Benefits of Starting a Company in Turkey
Turkey offers great advantages to investors wishing to set up companies. Acting as a bridge between Europe, the Middle East, and Central Asia, Turkey has a strong economy, a liberal investment environment, and an ideal taxation regime. Turkey, which is in a strategic position in trade to many parts of the world, is widely preferred by foreign investors due to the practices of foreign capital to facilitate the activities in our country.
Turkey has a dynamic economy and private sector that attracts foreign investors. Moreover, the economic growth of the country creates an excellent opportunity for investors. A qualified workforce combined with developed infrastructure makes Turkey a viable option. Besides, government incentives and the advantages of the tax system for investors make it easy to establish a company in this country. Government incentives can be used in many activities. Also, compared to Europe, this country has a much easier process to establish a company.
Foreign entrepreneurs who want to invest in Turkey can benefit equally from the rights granted to Turkish citizens based on the provisions of the Direct Investment Law. The Foreign Direct Investment Law is based on the principle of equal treatment, and it allows international investors to have the same rights and obligations as local investors. Turkey has agreements with 80 countries to avoid double taxation. Turkey has signed these agreements to prevent double taxation, which aims to deduct a tax previously paid in any country from the tax that must be paid in another. In addition, Social Security Agreements have been signed with 26 countries. Thanks to the Customs Union Agreement in force since 1996, it is possible to trade with EU countries without customs restrictions.
The conditions for establishing a company are equal for local and foreign investors. Accordingly, international investors can establish all types of companies specified in the Turkish Commercial Code (TCC). TCC meets international standards, encourages private equity and IPO activities providing transparency in government operations and business environment, which makes Turkey's compliance with EU legislation and EU accession process offer an approach to corporate governance. Turkey has adopted the ease of doing business as a principle with the reform to improve the investment environment.