Turkey is a country with a rapidly growing economy whose strategic position at the crossroads of Europe and Asia offers a variety of business opportunities for foreigners seeking to establish a business in the country.
One of the most promising business sectors in Turkey is tourism. The country has a diverse landscape, a rich history, and a growing number of luxury resorts and vacation spots, making it a popular destination for travelers from around the world. Investing in hotels, restaurants, tourism companies and other businesses that provide services to tourists can be a profitable business.
Another promising sector is the construction and real estate industry. Turkey has a rapidly growing population and a housing shortage, leading to high demand for new developments. Foreigners can invest in the construction of new buildings or buy and manage existing properties.
The manufacturing industry is also a good opportunity for foreign investors. Turkey has a well-developed infrastructure, a large workforce, and access to raw materials and markets, making it an ideal location for manufacturing. This includes the textile, automotive, appliance, chemical, etc. sectors.
The service sector, especially in finance and technology, is also growing in Turkey. The country has a thriving startup ecosystem and a rapidly developing technology sector, and foreign investment in these areas can be very profitable.
To register a business in Turkey for foreigners, the first step is to choose a legal form for the business. The most common form for foreign companies is a limited liability company (LLC). Once the legal form has been chosen, the next step is to obtain a tax identification number and a commercial register number from the Turkish government. After that, the company must be registered with the relevant authorities and obtain the necessary licenses and permits.
There are many reasons why these companies make sense for foreigners in Turkey. The country offers a large and growing market, a well-educated workforce and a business-friendly environment with relatively low taxes and regulations. Moreover, Turkey’s strategic position allows easy access to markets in Europe, Asia and the Middle East.
However, it is also important to note that running a business in any foreign country can present its own challenges and it is important to understand the cultural, legal and economic environment before setting up a business.
