Turkey is one of the quickest-growing economies in the world, and it is obvious that people from different parts of the world would like to invest in this country. The country’s geopolitical position makes it an ideal place for manufacturing, information technology, logistics, and other sectors.
So, what are the benefits of opening a company in Turkey? The following section provides a guide to the benefits of starting a business in Turkey. The country seeks foreign investors in different sectors to boost its business ecosystem.
Lesser Expenses in Conducting Business Operations
Investing in Turkey is luring due to the low expenses in business operations in the country. The business operation cost is high in the USA and UK. Many countries offer cheap labor, though they have a scarcity in rendering skilled labors.
Turkey, in contrast, serves both aspects with precision. Businesses investing in Turkey get low-cost labors easily. Moreover, you will find skilled labors who understand your business’s requirements and help fulfill business goals.
According to the reports, around a million students become graduates from various colleges and universities in Turkey. The students are well-educated and highly skilled in their respective sectors. Employers can hire them and improve business productivity.
A High Consumer Demand
Turkey has a young and vibrant population that wants to make expenses for various products. Consumers have money to purchase the goods and services a business brings. Such a consumer market is encouraging for businesses that want to invest in Turkey.
So, small and medium businesses can invest in Turkey, as the country has good consumer market liquidity. There will not be a shortage of demand for your business’s products and services to the consumers.
Incentives from the Turkish Government
Opening a company in Turkey is hassle-free due to the government’s policies to provide ease in doing business. The government makes a consistent effort to create a more business-friendly environment for the people. A business that wants to invest in this country may qualify for certain grants and incentives introduced by the Turkish government.
For example, a foreign investor can apply for the Investment Incentive Certificate to enjoy a VAT exception. Furthermore, you can get customs duty exemptions and tax deductions. The government is committed to assure social security for the corporate. Therefore, investors can obtain premium social security support in Turkey.
Free Economic Zones
The Turkish government has developed multiple free economic zones to encourage foreign investors. Investing in the free economic zones fetches corporate tax dedication. Moreover, investors can easily apply for leasehold lands and commercial properties without hassles.
Understanding the regulations is crucial, and Foreign Operation Consultancy offers guidance on how to open a company. Investors can choose this company for effortless guidance on investing in Turkey, facing zero legal compliance challenges. Moreover, it helps the clients choose the right company type, depending on the company’s mottos and future goals.
So, these are some benefits of investing in Turkey. Investors should understand the legal policies before investing. Moreover, you must know the requirements to open a company. Hiring a reliable consultant will make the process simpler.