In this article, why you should invest in Turkey, the advantages of invest in turkey, earnings, with invest in Turkey will transfer the data to you. All data are based on official data and no misleading data are used. In this article, supported by data from independent organizations you can find all the details they give you about invest in Turkey.
Why should invest in Turkey?
Turkey’s economy, registering a record growth in 2003, 2003 and 2018, while among the world’s 18th largest economy rose to 13 in 2018 as well. Turkey grew by 6 percent in the last quarter of 2019, Gross Domestic Product (GDP) grew 0.9 percent in 2019. According to the production method, GDP at current prices increased by 14.9 percent in 2019 compared to the previous year and reached 4 trillion 280 billion 381 million TL.
Turkey, January-February-March 2020 period, the European Union and the growth rate in the first quarter, was one of the countries showing the strongest growth among the G20 and OECD countries. It has been observed that the economies of countries such as Germany, France, England and Italy have contracted. Data of Turkey when we consider that a significant growth potential and emerging countries it is cheaper in the TL offers a great advantage to investors by reason.Why should invest in Turkey?
What are the benefits of invest in Turkey
Structural reforms carried out by Turkey in the last 10 years with an outstanding record of growth, has attracted the attention of international investors. According to the European Country Attractiveness Survey 2018, Foreign Direct Investment (FDI) in relation to Turkey, the country has advanced to the 7th position taking place in the top 10 in Europe. Turkey in 2018, an increase of 14% compared to 2017, has hosted 261 projects. It had a 4% share in FDI projects in Europe in 2018. Also, the number of companies with international capital in Turkey in 2002, while 5,600, by the end of 2018 reached 65 533.What are the benefits of invest in Turkey
Turkey, population is the 11th largest economy in terms of GDP per capita among countries with over 50 million. Strong population is a serious and growing market in the automobile sector in Turkey. While there were 4.6 million passenger cars in 2002, this figure reached 12.4 million passenger cars in 2018. with goods and services produced in Turkey is among the leading countries in terms of economic growth and social development. There are 23 cities in Turkey population exceeding 1 million. Among these cities, Istanbul is the most populated city in Europe. It is one of the popular cities with a population of 1 million in tourism cities such as Antalya, İzmir, Aydın, Muğla, Denizli and Samsun.
Is a very strategic position as Turkey. Turkey, the European network of powerful air with a 4 hour flight, the Middle East and a total of 24 trillion US dollars worth of volume in North Africa and Central Asia region and provides easy access to a market of 1.5 billion nüfusluk. Turkey’s strategic location, from Tokyo to New York offers easy access to markets in 16 different time zones. Turkish Airlines (THY) operates flights in 127 countries in 319 cities. Turkish Airlines plane with 182 thousand more than I’m a big win for Turkey. International production companies, prefers to Turkey as a base for export and management.
investors are faced with major challenges such as aging and declining population in Europe, Turkey’s young and well-educated population are considered to be a significant advantage.
Turkey is living a serious investment in the domestic market and the European countries with a young population in excess. Turkey offers unique opportunities for the growing young population. Turkey Statistical Institute (TUIK) that Turkey’s population of 82 million in 2018, 86.9 million in 2023, while in 2040 it is estimated to reach 100.3 million. Turkey 100 million in 2069, surpassing growth momentum is expected to reach 107.6 million. Turkey, compared to the EU member countries with a young population under the age of 32 in 2018, according to data has half of young people in Europe.
Turkey has a young population of the country as the most important factor in the growth of the labor force has contributed to getting top position compared to competitors. Turkey also has realized the highest growth in the labor force compared to EU countries.
Turkey, the third largest workforce in Europe with 32.7 million people, has the potential labor force. The increasing number of universities in Turkey offers to become a qualified workforce of young people by providing the increase of the number of university graduates.
The number of students in the Turkish higher education system has reached 8 million 76 thousand 615, according to the data in the journal “Higher Education” published by the Higher Education Council (YÖK) quarterly.
In 2019, approximately 24% of the population aged 6 and over are primary school graduates, 21% are high school graduates and 18% are secondary school graduates. While 13.9% of this population is a graduate of college or faculty, 10.5% are people who are illiterate but not graduated from any school. The lowest rate in the population aged 6 and over belongs to doctoral graduates. 211 thousand, including 86 thousand women in Turkey have doctoral graduates.
According to the number of high school, university and graduate graduates, it is seen that Istanbul and Ankara come first. Izmir, Bursa and Antalya follow Ankara in the ranking. In this context, in 2019, all schools in Turkey / 22.4% of university graduates and about 29.2% of master’s graduates were living in Istanbul.
In addition, 25.4% of the total population of doctoral graduates live in Istanbul. Other provinces with high graduate population are Ankara, İzmir, Konya, Antalya and Bursa, respectively.
The Turkish government has always prioritized reforms for international cooperation for qualified workforce, innovative production, sustainable growth, a sustainable environment and development. extensive reforms over the past 16 years, according to the current number of restrictions on foreign investors in Turkey is much lower than the OECD average.
Turkey, as a result of recent developments in labor regulations, in order that the World Bank’s Ease of Doing Business Index of 190 countries showed a remarkable improvement takes place has risen to 33 as well.
Turkey’s investment legislation provides equal rights to all investors with simple and complies with international standards.
The basis of investment legislation; The Law on the Promotion of Investments and Employment No. 5084, the Foreign Direct Investment Law No. 4875, the Implementing Regulation on the Law on Foreign Direct Investments, multilateral agreements and various laws governing the promotion of investments in sectoral areas.
The purpose of the Foreign Direct Investments (FDI) Law No. 4875 is listed as follows.
• To encourage foreign direct investments to the country,
• Protecting investors’ rights,
• To bring investor and investment definitions to international standards,
• To establish a notification-based system for foreign direct investments instead of an approval-based system,
• Increasing the volume of foreign direct investments through established policies and procedures,
FDI Law defines foreign investors and foreign direct investments. It also includes important principles of foreign direct investment, such as investment freedom, national treatment, expropriation and nationalization, free transfer of profit, national and international arbitration and alternative dispute resolution methods, non-cash capital valuation, foreign personnel employment and liaison offices.
Procedures and principles regarding the issues in the FDI Law are determined in the FDI Law Implementing Regulation. The aim of the FDI Law on work permits for foreigners:
• To organize the works carried out by foreigners,
• To determine the terms and conditions related to the rules on work permits issued to foreigners.
Bilateral agreements for the promotion and protection of investments have been signed with countries that have the potential to develop mutual investment relations as of 1962. The main purpose of mutual investment agreements is to establish economic cooperation between the parties by determining the standards for investors and investments within the borders of these countries. These agreements aim to provide a stable investment environment by increasing the capital flow between the parties. In addition, these agreements with international arbitration clauses indicate the most effective ways to resolve disputes that may arise between investors and the host country. Turkey has signed Bilateral Investment Treaties with 98 countries. Turkey, however, be approved to become a part of the national legal systems is a country that needs an international agreement and the publication. For this reason, 81 of these 98 Bilateral Agreements have entered into force so far.
Afghanistan, Germany, United States, Argentina, Albania, Australia, Austria, Azerbaijan, Bahrain, Bangladesh, Belgium-Luxembourg, Belarus, United Arab Emirates, Bosnia and Herzegovina, Bulgaria, Czech Republic, China, Denmark, Estonia, Ethiopia, Morocco, Philippines, Finland, France, Guatemala, South Korea, Georgia, Croatia, India, Netherlands, England, Iran, Spain, Israel, Sweden, Switzerland, Italy, Japan, Qatar, Kazakhstan, Kyrgyzstan, Kosovo, Kuwait, Cuba, Latvia , Libya, Lithuania, Lebanon, Hungary, Macedonia, Malaysia, Malta, Mexico, Egypt, Mongolia, Moldova, Mauritius, Uzbekistan, Pakistan, Poland, Portugal, Romania, Russia, Senegal, Serbia, Singapore, Slovakia, Slovenia, Syria, Saudi Arabia, Tajikistan, Tanzania, Thailand, Tunisia, Turkmenistan, Ukraine, Oman, Jordan, Vietnam, Yemen, Greece. Listed as 81 countries.
Turkey is a tax which is paid in one of any two countries with 85 countries, to be deducted from the tax payable in the other, and thus double that allow taxation prevention Avoidance of Double Taxation Treaties (DTT) has signed.
Turkey, the Avoidance of Double Taxation adding new ones to the countries which are party to this agreement continues to increase the scope of the Agreement.
Turkey has signed Social Security Agreements with 30 countries, these agreements facilitate the arrival and departure of employees between countries outside their own country. The number of these countries will increase over time depending on the number of FDI resource countries.
In recent years, Turkey’s investment environment has improved significantly and reduced the tax burden of the tax system in international standards.
Turkey, as well as greenfield investments offers incentives for large investment projects. It offers many incentive programs through KOSGEB, which supports the minimization of initial costs and acceleration of return on investment.
These incentives can be given extra incentives for projects in the priority sectors classified as important areas for technology transfer and economic development. Republic of Turkey to investors; In addition to its support programs for R&D innovation projects and additional employment, it also supports exporters through some grants, incentives and loans.
The comprehensive reform process that was initiated in the early 2000s continues today.
Coronavirus, public health spending in Turkey has led to the separation of higher budget for social security and educational fields.
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