Turkey, not yet a EU country, is very attractive for foreign investors, especially from Europe, who are interested in opening a company in one of the special investment zones, where the authorities offer a few incentives. The Turkish economy is well-known for its important growth from USD 231 billion in 2002 at USD 786 billion in 2012 for GDP. Specialists in the economy field expect the Turkish economy to grow in the future years and become the first fast growing among the Organization for Economic Cooperation and Development (OECD).
Nowadays, Turkish economy is ranked the 16th largest economy in the world and the sixth largest in Europe. Two years ago, Turkey was considered the 13th most attractive destination for foreign direct investment due to the fact that in 2012 Turkey attracted USD 123 billion from foreign investments.
Foreign investors can hire for their businesses the local workforce – over 27 million (at a total population of 76 million) well-educated and skilled people, interested in working with foreign entrepreneurs. Nearly half of the population is very young, under 30, which means that Turkey has the largest youth population compared to EU countries.
Besides of these, the infrastructure from Turkey is well developed especially in transportation and technology and the costs for sea transport facilities are low, which is a very important aspect for foreign investors who need different means of transportation for their products to the important EU countries.
Turkey is well connected to Europe through a large energy terminal and corridor that goes from east to west and is close to the energy resources. Even if Turkey is not yet a member of EU, this country has a custom union with EU and free trade agreements signed with 22 countries.
The authorities from Turkey have removed in the recent years many restrictions regarding the development of foreign investments in this country and offer a business-friendly environment. Although the Turkish authorities say that incorporation of a company lasts only six days, it may take two weeks to get things done. But despite the incorporation procedure, the opportunities offered for foreign investors are important for the development of their businesses, so Turkey is definitely a country to invest in.
The foreign investors are not discriminated and all are treated equally, so Turkey has become the home for more than 33,000 companies opened by foreign citizens.
They can benefit from incentives, such as corporate income tax of 20% (instead of 33%), other tax benefits and exemptions if they set up a company in special investment zones.
The foreign entrepreneurs who want to find out more about opening a company in Turkey, can contact our company formation agents. They can also recomend you other important investment zones in the neighborhood, such as UAE (Dubai).