Transportation and Storage Company in Turkey
The strategic location and the bridge between Asia and Europe make Turkey the epicenter of transportation and storage companies. Although the Turkish logistic sector is young, it is expanding at the speed of light, equivalent to its remarkable economic growth.
Turkey is making its presence felt with a strong foothold in the global transportation and storage business and holds the 30th rank on the World Bank’s Logistic Performance Index. Turkey will exploit its fortuitous location by positioning itself as the hub of logistics in the long term.
Related Article: Establishing a Company in Turkey.
Why Should You Consider Opening A Transportation and Storage Company in Turkey?
The reason is simple: The logistics industry in Turkey has been growing in parallel with the gross domestic product (GDP) over the years. The sector was worth around $44 billion in 2013 but, as mentioned above, growing identically with GDP, which stands around 4%.
According to Turkey’s Investment Support and Promotion Agency (ISPAT), the transportation sector contributed roughly 10-15% of the total GDP. If we calculate, the current GDP of Turkey is $798.4 billion, meaning the market valuation of Turkey’s logistic industry is close to $80 billion.
It is estimated to grow exponentially from $150 to $200 billion by 2023. This financial growth may attract you to go to Turkey and open a transportation and storage company.
How to Establish A Logistic Company in Turkey?
The Turkish limited liability company (LLC) is the best option for opening a transportation and storage company is the Turkish limited liability company (LLC) because these are medium-sized businesses and need an appropriate entity. After registering the company, the entrepreneur must prepare the fleet through which the merchandise will be transported.
If you plan to open a transportation and storage company in Turkey, you need to purchase trucks and get them registered with the land transportation authorities. If you consider the possibility of transporting goods by land, then the formalities are simple for cargo companies.
Serious government backing, space for international and local investment opportunities, expanding market, and an amazing location to become the next transport hub make Turkey on every business’s radar and reap the lucrative rewards of the logistic business.