Starting a Business in Turkey

April 3, 2022

While Turkey is considered to be one of the countries where foreign investors are most interested, it is also very curious to establish a business in Turkey. Starting a business in Turkey, where foreign investments have increased significantly recently, provides advantages in many ways. We have discussed with you the advantages and opportunities of investing in Turkey for a foreign investor!

Turkey is considered to be a bridge between Asia, Europe, and the Middle East. It is known that Turkey is considered a remarkable center due to its strategic location and its location on many connecting roads. In addition to its location, Turkey has an important place in being so important, as well as hosting important transit points such as the Bosphorus of Istanbul and the Dardanelles Strait within its borders.

Why Start a Business in Turkey?

Starting a business in Turkey is very important to evaluate opportunities as well as financial terms. For this reason, it is necessary to mention that different factors influence foreign investors’ choice of Turkey. the fact that it has a population of 85 million and a young population is important for investments to be a very serious level in Turkey. On the other hand, it is quite easy to find qualified personnel in Turkey, where educational standards are also very good. However, other factors turn to invest in Turkey into a greater opportunity for foreign investors. 

It is possible to seize the following opportunities within the framework of incentives and support for foreign investors in Turkey.

  • Foreigners who have established a new business in Turkey are granted all the rights that existing businesses have,
  • Guarantees related to the protection of investment rights are provided,
  • Investment and venture opportunities are offered in accordance with international standards,
  • Extra credit and financing support is provided for foreigners who will invest in Turkey,
  • It is supported that enterprises that will invest in Turkey do not pay taxes when importing some machinery and equipment,
  • Incentives for Income Tax and Social Insurance contributions,
  • Exemptions on energy expenses,
  • Laws and regulations for the protection of the rights of foreign investors,
  • Recognition of the right to obtain Turkish citizenship by investing in Turkey.

All these opportunities manage to create great opportunities for those who want to invest in Turkey. As a foreign investor, you can meet your expectations by capturing opportunities in this regard.

What Should I Do to Start a Business in Turkey?

For foreigners who want to start a business in Turkey, they first need to get advice to find out the legal and structural conditions in Turkey. It should be known that investments that will be realized without knowing the conditions of Turkey will cause serious losses. After studying similar company structures and receiving consulting services, the idea of starting a business should be implemented. 

Is There Any Limit for Starting a Business in Turkey?

For foreigners, investing and starting a business in Turkey is a very important issue. However, it is necessary to know whether there is a limit in this area and to act accordingly. 

It is possible to establish a company in the fields of a bar, restaurant, cafe, hotel, real estate company, consulting firm, and many more. For foreigners who are usually interested in starting businesses that do tourism-related work, it is necessary to obtain prior permission to start a business in some sectors. The areas where the idea of starting a business will be realized with the permission of the Ministry of Commerce are alternatives such as bank, factoring, foreign exchange office. If you want to invest in Turkey as a foreigner, you should definitely evaluate the legal limitations by getting legal support. Otherwise, it is possible that you will encounter surprises and experience negativity.

Establishment Costs of a Limited Liability Company in Turkey

One of the most important issues for investors who want to invest in Turkey is the expenses related to the establishment of the company. An average of TL 20,000 of capital is needed when evaluating overhead costs related to a limited liability company organization. Part of this amount is considered company capital, and part is considered general expenses. 

It is necessary to state that the costs will vary depending on the place where the companies will be established and some other conditions. In this context, it will be very important for foreign investors to take action by evaluating the best quality solutions.

Things to Know About Starting a Company in Turkey

Obtaining legal and financial support during the company’s establishment process is an important issue for almost every foreign investor. For this reason, it is important to be as meticulous as possible and to build your company on a healthier foundation. In order to avoid any negativity that may arise during the establishment of the company, you should definitely get counseling.

In order to start a business in Turkey, foreign investors should be in touch with consultants who have previously helped foreigners to get support, as it will be difficult for them to learn the processes. All other options will be able to cause problems.

Starting a Business in Turkey and Obtaining Turkish Citizenship

One of the most important issues that you should pay attention to if you want to start a business in Turkey is that you will get Turkish citizenship. Within this framework, you should focus on providing the necessary conditions as a foreign investor and obtaining the right to citizenship. Here are the opportunities waiting for you as a foreign entrepreneur in Turkey!

  • Providing employment opportunities to at least 50 people
  • Depositing your 500.000 USD assets into Turkish bank accounts
  • Buying real estate worth USD 250,000.

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