Reasons to Start a Business in Turkey

Reasons to Start a Business in Turkey

Turkey is blessed with the sea all around it and the natural beauty and mind-blowing historic buildings are every person’s desire. With amazing beauties, Turkey is blessed with amazing business prospects as the oceanic transport booms in the country.

If you are a foreign investor, then there are many benefits of investing in Turkey as it has a strategic position by being the trading center of the whole of Europe. The Turkish government is also supporting business ventures.

Reasons to Invest and Start a Business in Turkey:

The Government Incentives to Encourage Foreign Investors

Turkish government encourages both local and foreign businessmen with offering incentives and helping their business in the initial stage. Foreign investors who obtain Investment Incentive Certificate (IIC) are granted great benefits like custom duty exemption, interest rate support, and many more benefits.

Strong Consumer Spending

Turkey has a lot of young people and the main source of spending in Turkey is their young generation. Young people follow trends which always change, thus keeping the market running and with a full-proof plan, you can establish a successful business in Turkey, keeping the young generation as your target customers.

Low Operating Cost

Low operating costs are one of the main benefits of establishing a business in Turkey. If you are planning to establish a business in more posh countries like the UK or the US, then you have to pay the operating cost on a very high range. Millions of people graduate in Turkey every year and when the large number of people are looking for a job, the initial cost of labor will be on the lower side.

Local Manufacturers

A common rule of establishing a business is to locate a manufacturer near you to eliminate transfer costs. Plus, the locals are helping in Turkey, and they will be ready to assist you. The locals are humble and ready to take minimum orders to help start your business.

Turkish Citizenship

From 2017, the Turkish government has made it feasible to obtain citizenship easily. If you invest more than a certain amount, then you may be eligible for citizenship. If you invest at least $500 thousand or create 50% of employment, then you are eligible to apply for Turkish citizenship.

Turkey is a great city to invest and the people are very humble, supportive, and welcome foreign investment with open arms. If you are planning to establish a business in Turkey, then you can do it without any worry!