This article is for you if you are thinking about investing in Turkey and want to know what benefits you might receive. Turkey has experienced substantial growth over the past ten years as a result of its investments in large-scale projects, R&D, and development. Turkish economic growth has drawn the interest of numerous foreign investors. Turkey rose to the seventh-most popular Foreign Direct Investment (FDI) destination in Europe in 2018, according to the Investment Office of the Presidency of the Republic of Turkey, which was first reported in the EY Attractiveness Survey Europe.
WHY INVEST TURKEY?
The growing economy, population, big domestic market, skilled labor force, innovative investment climate, strategic position, incentive opportunities, cheap corporate taxes, and potential in various sectors are the primary reasons to invest in Turkey. Those reasons are intended to attract foreign capital to our country through agreements, regulations, and policies that encourage foreign investors. Overall, Turkey is an excellent place to invest due to its rising economy, young labor force, and a variety of other factors. Overall, Turkey is an excellent place to invest due to its rising economy, young labor force, and a variety of other factors.
The government’s financial incentives for foreign investors.
Turkey has a comprehensive investment incentive scheme that helps to reduce the initial cost burden and accelerate the return on investment. Furthermore, the Turkish government offers several assistance programs in the form of grants, incentives, and loans. As a result of all of the government’s incentives, international investors stand to benefit greatly.
Who can benefit from investment incentives?
- Real people,
- Common partnerships,
- Stock Company,
- Cooperatives,
- Joint ventures,
- Government institutions and agencies,
- Public professional groups, associations and foundations,
To summarize, foreign investors are operating their businesses more profitably and productively as a result of these incentive opportunities.
What are the sectors in Turkey that foreign investors are investing?
You should first become knowledgeable about the industries if you want to make a wise investment. The top three industries in which foreign investors are most interested are described in detail below;
REAL ESTATE
One of the most profitable investment industries in Turkey is real estate. The Investment Office reports that “the total number of residences sold in the Turkish real estate market reached 1.4 million units in 2018.” Foreign investors interested in making investments favor Turkey due to its geographic location, cultural and social prospects, favorable currency rate, ease of getting citizenship, and opportunities for a fulfilling life and profession. Additionally, 39.663 properties in Turkey were sold to foreigners in 2018.
Additionally, according to the Investment Office, Istanbul, Antalya, Bursa, and Ankara have the most demand among the cities where foreigners are interested in investing.
Foreign investors has easier and simpler way to invest in Turkey due to the Turkish government’s relaxation of its real estate investment regulations in 2017. To provide information on acquiring Turkish citizenship, it should be noted that charges associated with money and investments have decreased since the decision was announced in the official newspaper on September 19, 2018. The recently established regulation stipulates that you must invest a minimum of $250K USD in real estate and hold onto it for three years before selling.
The real estate market is attractive to many foreign investors since it includes large-scale projects like the Eurasia Tunnel, the Marmaray, the Istanbul Airport, and the Canal Istanbul. Additionally, Turkey has a wealth of natural attractions that can be used to fund social and cultural activities. In conclusion, there are many reasons to invest in real estate, and doing so in Turkey is almost always advantageous.
TOURISM:
Turkey has long been a highly desirable travel destination due to its distinctive coasts, year-round tourism, and excellent location for cultural and ecological tourism. With more than 46 million visitors, Turkey was the sixth most popular tourist destination in the world in 2018.
Turkey is a very appealing destination for history lovers as well, distinguishing out for its long history. Winter tourism is also a focus for both domestic and international businesses due to its natural beauty. It emphasizes that the tourism industry is one of the most lucrative to invest in due to the government incentives provided to both domestic and foreign businesses.
HEALTH INDUSTRY:
Due to the health sector’s fast change during the past ten years, health industry gained the attention of numerous foreign investors. Every year, a large number of tourists travel to Turkey for dental work, cosmetic surgery, hair transplants, and other medical procedures. Official statistics show that approximately 1 million foreigners traveled to Turkey for medical care in 2018.
Foreign investors are increasingly interested in Turkey’s health sector, particularly because they can obtain high-quality services at reasonable prices. Turkey’s major source of income is the health industry, investments could be extremely successful.
