Turkey is considered one of the best countries for investments in general , given the economic situation, and the existence of a strong central government and the laws that have contributed to providing suitable working conditions for investors, capital holders.
Investment incentives in Turkey:
Turkey has succeeded in recent years in achieving a quantum leap in terms of investment , where it has become the best competitor in the field of investment in the whole world , and there are several
factors contributing to the success of investment including:
Strategic Location: –
Turkey’s prime location in the heart of the world has made it a great tourist destination for the other countries of the world, which increases this state revenue, especially with the opening of the New
Istanbul Airport which is considered one of the largest airports in the world, which made a historic leap in Turkey’s investment value, and its status among countries radically changed.
Growth and prosperity of the economy:
Turkey’s economy is booming, with the country’s GDP rising. In 2017 the GDP reached 851 billion US $ according to official data released by the Institute of National Statistics in Turkey, the size of foreign direct investment in Turkey has reached more than 190 billion US dollars, Turkey reached the second level on the European countries terms of economic growth.
Infrastructure : –
The infrastructure in Turkey is characterized by high technology, especially large modern projects, where the aim of the local community is not only to build the necessary service facilities such as bridges and airports water channels and others, but to the extent that they are aiming to be giants and compete worldwide.
Taxes and low customs: –
The most important characteristic of taxes in Turkey is that it is the same for the local citizens and foreigners, as the distinguished tax in Turkey on companies and investment projects is somewhat low, and especially after the government’s reduction of thecorporate income tax in Turkey from 33% to 20% tax on real estate. In Turkey there is also exemptions and tax cuts for projects of environmental, technical and industrial zones and hubs.
Types of Investments in Turkey:
Investments in Turkey ranges from general trade, manufacturing and telecommunications, agriculture and food, health care and medicines , financial services, communications and information,
but the most important of these sectors are:
Tourism sector:
This sector is witnessing a great boom, especially in Istanbul, where Turkey is visited annually by approximately 15 million tourists from different countries, and those who invest in tourism are Buying a number of cars and offering them for renting on a daily or monthly basis. Many tourists go with renting cars for traveling around Turkey, or renting them with a tour guide, as well as tourists the cars offered for rent are also requested by Turks .
Photo by Meriç Dağlı on Unsplash
Real Estate Sector:
Property prices in Turkey are cheaper than in other European countries, real estate investment is one of the safest sectors for investment, and the least risky type of investment, houses and land do not lose value over time but acquire additional value that forms the value of the profit provided that you buy the properties that are under construction where the price at its lowest which is at the beginning of the project and then resell at the end of the project and gain profits, the rate of foreign demand for Turkish real estate is estimated at 25%.
Photo by Emre Genceron Unsplash
Industrial sector :
Turkey is a member of the Group of 20 industrialized nations, which account for about two-thirds of trade in the world and more than 90% of the world’s crude output. Turkey has also become a reliable source For high quality consumer goods , there is no doubt that Istanbul occupies an advanced position among Turkish cities in the field of industries , where the city has several industrial zones ,
which are active in the following industrial fields:
Iron, steel and metals industries , furniture , construction materials, machinery , iron molds, Plastics , electrical and electronic industries, chemical industries, textile industry clothing , machinery and car parts .
Commercial sector :
This sector is considered one of the most profitable sectors, especially since Turkey is one of the top producing countries in the world, where its products are exported to more than 170 countries in the world such as apparel, shoes cereals, fruits and oils where they are available for cheap prices in Turkey, or the trade of Machinery, equipment and raw materials.
Agricultural and Food Sector:
Climate regions vary in Turkey, and agricultural crops include fruits and vegetables, this sector includes some signs of strength, including the market size and the population average age of the workforce. This has a vital role for the economy and for the private sector. Turkey is the seventh largest country in the world for agro production , turkey is one of the world leaders in the production of figs , hazelnuts , raisins , dried apricots, Turkey is also one of the world’s leading countries in the production of honey.
Photo by Ilker Simsekcan on Unsplash
Construction Sector:
In this sector, there are many licenses that are needed to start any project in addition to the knowledge of materials prices and construction costs, an easy investment is to buy old apartments, refurbish them and then sell them, this work gives excellent revenue especially in Istanbul.
The future of investment in Turkey:
This great nation has shown a great deal of strength and insistence on competing with other nations, and its distinguished by a prestigious reputation in the world, encouraging everyone to invest in it from all over the world, it is one of the most famous, beautiful, and prosperous places to live and invest in for the future.