Turkey and Russia have recently signed a memorandum through which the two countries will enhance trading and investment relations in the next years. The agreement was signed by the representatives of the Turkish Wealth Fund (TWF) and the Russian Direct Investment Fund (RDIF). Foreign investors interested in starting a business in Turkey can rely on the services offered by our company registration representatives.
Turkey and the UAE are planning to increase economic cooperation in the years to come, according to a press release issued after a meeting held by in Ankara by the UAE ministry of economy and the Turkish deputy prime ministry. The two countries are also expected to increase trade relations in the near future. Our company formation agents in Turkey can assist all foreign investors interested in investing in this country.
2016 was a good year for the Turkish economy if considering the statistics which show an increase in the number of foreign investors who have established companies here. According to the Turkish Union of Chambers and Commodity Exchanges (TOBB), there were 4,523 new companies registered in Turkey last year. Our company formation representatives in Turkey can assist foreign investors interested in opening businesses here.
Turkey is known as a destination for some of the largest car manufacturers in the world and spare parts producer and recent surveys show the automotive industry is one the most performant sectors of the economy. In 2016, this industry rose by 8%, according to the Automotive Manufacturers Association in Turkey (OSD). Foreign investors interested in opening a company in this economic sector can rely on our Turkish company formation consultants.
The Turkish economy is about to take a positive turn after the government has signed several free trade deals with the European Union. It is known that the EU is one of Turkey’s largest trading partners and the new agreements reinforce their commitment to deliver products and services at good prices. Our company formation agents in Turkey can assist foreign investors who want to open companies in this country.
Even economists had predicted a rough year for the Turkish economy in 2016, new reports show an actual economic performance of +3.4%. According to the International Monetary Fund, the construction industry was one of the greatest income generators in the year that just ended. Our Turkish company formation agents can assist foreign investors who want to open companies in the construction industry.
Turkey and the Netherlands have decided to strengthen economic ties and investments during a meeting held in Ankara. Part of the plans were drafted during this meeting, the parties deciding to continue discussions in the Netherlands later on. Turkey and the Netherlands have agreed upon investments in certain industries for the time being. Our company formation agents in Turkey can offer information on the double taxation treaty with the Netherlands.
Turkey has managed to secure over 150 new investment projects worth a total of 24 billion USD since July, according to the representatives of the Investment Support and Promotion Agency (ISPAT). Among these, there are also investment projects which were started before the coup attempt, projects that will continue to be developed. Our company registration agents in Turkey can offer detailed information on the legislation on foreign investments.
For 9 years now, Turkish companies are among the most appreciated contractors in the world. More precisely, Turkey occupies the second position in the Top 250 Contractors, according to the Engineering News Record magazine. Both public and private companies in Turkey managed to be obtain contracts all over the world in the construction industry. Our Turkish company formation agents can help foreign investors interested in opening companies in this country.
The automotive industry is currently one of the most developed sectors of the Turkish economy, as it registered one of the highest growths in terms of exports during the last three years, according to the Automotive Industry Exporters' Association. Our company formation representatives in Turkey can help foreign investors set up a company in the automobile industry.
The Turkish real estate industry is flourishing and driving economic growth for the country, as foreign investors are attracted by this sector thanks to the slight decrease in housing prices registered in June after the 6.4% growth reported in May. Our company formation agents in Turkey can offer more information about the development of the real estate industry in this country.
Foreign investments made by Turkish companies in the greenfield industry have soared last year, according a recent report. These companies have put more than 15 billion US dollars in foreign direct investments in 2015. Our Turkish company formation agents can provide you with information about the foreign investment laws in this country.
The purchase power of Turkish households has increased in May, according to the Turkish Statistics Institute (TUIK). The consumer confidence index has also risen last month, which was the third consecutive month when consumers remain positive about their ability to purchase goods. Our company formation agents can assist foreign investors seeking to open a company in Turkey.
Turkey seeks to secure an important investment from US companies during a presidential visit to the United States. Turkish President Recep Tayyip Erdoğan stated his intentions to discuss the possibility of foreign investments with more than 20 large corporations from the United States.
A tax exemption for young entrepreneurs was recently introduced in Turkey. If certain conditions are met, a pre-established amount of income calculated over three tax periods will be exempt from the income tax. The law entered into effect in February, after the Amendment to the Income Tax Law was published in the Turkish Official Gazette. Our company registration experts in Turkey can help you understand how if can influence your business and if you qualify for the reduction.
Turkey aims to diversify its traditional export partners and for this purpose, the country means to more than double trade with Latin America and Iran. While speeding up the process of concluding more bilateral trade agreements in South America, Turkey also looks towards Iran, a country that is now free from the sanctions against it. Foreign investors in Turkey can benefit from these newly strengthened ties.
The number of start-up companies in Turkey has increased in 2015, according to experts, which is also why investments in start-ups have also grown. The companies benefiting from most investments were high-tech enterprises providing high-end products and services. This has led to a positive change in the influx of foreign investors seeking quality products and services in Turkey.
Turkey has ended 2015 on a good note with an economic growth of 3.4% on a year-to-year basis, according to the Turkish Statistics Institute. The Gross Domestic Product rose by 4% in the last quarter of 2015 alone, which was above the expected percentage. Our specialists in Turkey can provide you with more information about the actual economic situation of the country.
Despite the global economic crisis, Turkey has been economically growing in a constant manner and its strategically crucial position (as it neighbors Europe, Iraq and Europe, among others) gives the country the potential for becoming the second production hub in Europe. Our company formation experts can offer you the complete details about Turkey's economy and also assist you in setting up businesses in Turkey.
Turkish officials have expressed their hopeful provisions on a rise in investments in 2016. The news is welcomed by all Turkish officials and by foreign investors who can now look forward the new policies which will be implemented by the recently elected government. Turkey’s Investment Agency has already announced that it is working on two important projects and its representatives say that they have received more offers for future investments.
Turkey officials are seeking more Islamic finance in various business fields, both for the public and the private sector. The government will continue to issue sukuk, a type of Islamic bond, in hope that this way it will encourage foreign investors and widen the interest for this financial instrument. Considering the challenging global climate, this is a bold move but one that will be beneficial for Turkey as it will allow access to new markets.
Fitch Ratings, one of the most important credit rating agencies, has maintained Turkey’s stable outlook. The country has a BBB-rating, already affirmed by the rating agency last month. In light of the recent elections that took place in Turkey, another rating agency Moody’s, expressed its favorable predictions for Turkey and its future evolution under the new leading party. The government’s economic strategy for the country will be very important in the near future for attracting foreign investments.
Turkey intents to apply additional taxes on certain types of goods imported into the country. Electronic products are the targeted category of products and the higher taxes will most likely be introduced in a few months. Turkey is revising its taxation policy for imported products and customs duties. Import and export activities are favored by the country’s position and foreign investments are quite important in this area.
Turkish officials have published draft guidelines for taxpayers who are interested in entering an advance pricing agreement (APA). This is a type of agreement made between the taxpayer and the tax authority to establish the appropriate transfer pricing method for some transactions. Our company formation experts in Turkey are ready to help you, if you want to resolve certain tax issues using an APA.