As the end of 2017 is closing in, many countries start drawing the line and verify their results; however, for some countries the last few months of this year will bring good news and better results. Among these countries there is Turkey which, according to the World Bank, will have an annual growth rate of 5-5.1%, higher than the 3.5% predicted at the beginning of the year. Foreign investors interested in starting businesses in this country can receive assistance from our company formation consultants in Turkey.
Turkey is already a sought tourism destination among European citizens, which is why the government wants to seize this opportunity and transform the country into a world leader in terms of tourism. By 2023, Turkey aims to become the most sought health tourism destination in the world. Our company formation agents in Turkey can assist foreign investors interested in starting a business in tourism.
At the beginning of the year, the Development and Technologies Association of Turkey (TGGT) announced a strategy through which the export of digital games would reach 2 billion USD by 2020. The digital games industry now represents one of the leading economic sectors of Turkey as the government has enabled several incentives for innovation and technological production. Our company formation consultants in Turkey can assist investors interested in starting a business in the gaming sector.
Turkey is once again a sought vacation destination, after the number of tourists rose by 43% in a single month this year. June brought close to 3,5 million visitors to Turkey, most of them arriving from Russia. The rise in tourist numbers comes after the same spectacular growth registered in April. Foreign investors interested in business opportunities in tourism can consider the company formation services offered by our Turkish consultants.
The Turkish economy is on the rise and one of the main factors contributing to its increase is the confidence of investors and of the population. Moreover, the confidence level in the economy has reached its highest peak since November 2013. Retail and services were the industries registering the highest growth in July. Enterprisers who want to open companies in this country can rely on the support offered by our company registration agents in Turkey.
The beginning of the year meant the increase of several industrial sectors in Turkey. Among these, industrial production and manufacturing registered the best results between April and June 2017. Foreign investors who want to open companies in one of the above-mentioned industries can rely on our company registration consultants in Turkey.
During the last several years the number of Turkish private companies interested in setting up all types of facilities with the purpose of helping the economy has increased considerably. The last initiative of this kind is a research and development (R&) center which will be established in the center of Istanbul. The new project aims to help companies bringing innovative solutions. Our company formation agents in Turkey can assist investors interested in setting up businesses in the research and development field.
The Turkish Office of Statistics came with some good news for the economy at the end of April: foreign direct investment (FDI) number registered one of the highest growths during the month of February since the beginning of the year. Foreign investors interested in starting a business in this country can rely on the company formation services offered by our company registration consultants in Turkey.
The Turkish government has recently announced several subsidies for transportation companies operating in various industries. One of the most important subsidy refers truck companies exporting goods outside the country for which the upper limited for buying fuel was increased. Another subsidy will be offered to aviation companies transporting passengers. Our company formation consultants in Turkey can offer more information on the incentives offered to transportation companies.
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.