Invest in Turkey
- Why Invest in TURKEY?
The World Trade Organisation considers Turkey to be one of the most dynamic countries in Europe.
With its wonderful climate, charming towns and villages, golden beaches, wealth of history and friendly, hospitable people, Turkey is becoming increasingly popular for foreigners buying homes in the Mediterranean.
It's also a vibrant, thriving country which is proving to be an important new market for both British and international companies. Sony Ericsson has recently opened a new centre in Istanbul and many more businesses are recognising the potential of this emerging country and opening offices in Turkey.
What's more, with the country expected to join the European Union in 2012, there are more people than ever looking to buy property in Turkey and therefore the potential return on investment is enormous.
Last year alone, property prices rose by around 50%. The extra demand is sure to push prices even higher in the next few years. Investors who buy now can enjoy the benefit of an investment that should soon increase in value.
Strategically situated - Turkey is close to Central Asia, the Middle East, North Africa and the European markets.
Double Taxation - Agreements between Turkey and 39 other countries to promote and protect mutual investments.
Liberal - A very liberal investment climate, including free (international) movement of capital, profits, dividends and salaries, free-trade zones and subsidies.
EU membership - With progressive alignment with the main policies and standards of EU, Turkey is expected to join the EU in 2007 which should push property prices even higher.
Tourism - In recent years, Turkey has become a major tourist destination in Europe. With the rapid development of both summer and winter resorts, more and more people from around the world cane to enjoy the history, culture, and beautiful sites the country has to offer.
Emerging Market - A rapidly growing emerging market of 67 million people.
Membership - A member of many multinational institutions (UN, NATO, OSCE).
Globally competitive and diligent workforce
Low unemployment - Having a young population and high quality standards of education, the unemployment in Turkey is well below the current EU average of 11%.
Healthy Economy - Healthy economic growth is predicted in 2005, thanks to the economic reforms of the Turkish government.
10 REASONS TO INVEST IN TURKEY
1. SUCCESSFUL ECONOMY
- Booming economy (USD 230 billion to USD 736 billion of GDP from 2002 to 2010)
- Sustainable economic growth (4.8 percent annual average real GDP increase for the last 8 years)
- Promising economy with a bright future as it is expected to be the fastest growing economy among the OECD members during 2011-2017 with an annual average real GDP growth rate of 6.7 percent
- 16th largest economy in the world and 6th largest economy compared with the EU in 2010
- Institutionalized economy fueled by over USD 94 billion of FDI in the last 8 years and ranked as the 15th most attractive FDI destination for 2008-2010 (UNCTAD)
2. POPULATION
- A population of 74 million people
- Largest youth population compared with the EU
- Half the population under the age 29
Young, dynamic, well-educated and multi-cultural population
- *2010 data
3. QUALIFIED AND COMPETITIVE LABOR FORCE
- Over 25 million young, well-educated and motivated professionals
- 4th largest labor force compared with the EU
- Increasing labor productivity combined with decreasing real unit wage
- The longest working hours, and the lowest sick day leaves per employee in Europe (53.2 hours worked per week and annual average of 4.6 sick days per employee).
- Approximately 500,000 graduates from 156 universities
- Around 663,000 high school graduates, including one third from vocational and technical high schools
*2010 data
4. LIBERAL AND REFORMIST INVESTMENT CLIMATE
A dynamic and mature private sector with USD 114 billion worth of exports and an increase of 225 percent between 2002 and 2010
Strong industrial and service culture
Equal treatment for all investors
More than 25,000 companies with international capital and international arbitratio
Guarantee of transfers
5. INFRASTRUCTURE
- New and highly developed technological infrastructure in transportation, telecommunications
and energy - Well-developed and low-cost sea transport facilities
- Railway transport advantage to Central and Eastern Europ
- Well-established transportation routes and direct delivery mechanism to most of the EU countries
6. CENTRALLY LOCATED
- A natural bridge between both East-West and North-South axes, thus creating an efficient and cost effective outlet to major market
- Easy access to 1.5 billion customers in Europe, Eurasia, the Middle East and North Africa
- Access to multiple markets worth USD 23 trillion of GDP
7. ENERGY CORRIDOR AND TERMINAL OF EUROPE
- An important energy terminal and corridor in Europe connecting the East and West
70 percent of energy resources are located in the south and the east of Turkey, while the largest energy consumer, Europe, is located in the west of Turkey
8. LOW TAXES & INCENTIVES
- Corporate Income Tax reduced from 30 percent to 20 percent
- Individual Income Tax varies from 15 percent to 35 percent
- Tax benefits and incentives in Technology Development Zones, Industrial Zones and Free Zones could include total or partial exemption from Corporate Income Tax, up to 80 percent grant on employer’s social security share, as well as land allocation.
- R&D and Innovation Support Law
Region and sector-based incentive system
9. CUSTOMS UNION WITH THE EU SINCE 1996
- Customs Union with the EU since 1996, and Free Trade Agreements (FTA) with 20 countries
- More FTAs underway
- Accession negotiations with the EU
10. LARGE DOMESTIC MARKET
- 35 million internet users in 2010, up from 4 million in 2002
- 62 million GSM users in 2010, up from 23 million in 2002
- 46 million credit card users in 2010, up from 16 million in 2002Over 102 million airline passengers in 2010, up from 33 million in 2002
28.5 million international tourist arrivals in 2010, up from 13 million in 2002