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Here you can access most recent articles on legislative updates regarding Personal Data Protection Law, Social Security Law, Taxation Law, Occupational Health and Safety Law, Code of Obligations, Labor Law, Turkish Commercial Code, Law on Protection of the Value of Turkish Currency, Foreign Exchange Legislation, and Immigration Law in Türkiye.
Bilateral Treaties
You can access the dates of the most recent international bilateral social security and double taxation treaties made between Türkiye and other countries and relevant documents here.
Türkiye has become an emerging country to invest in for foreign investors of all industries with
its ever-growing economy, geostrategic value, and unrivaled opportunities it has to offer.
Located on two different continents, Türkiye serves as a bridge between the East and West, North and South axes. This characteristic of the country brings a significant advantage in terms of logistics and workforce, making Türkiye a robust investment center with reasonable costs for thriving markets.
Türkiye’s geographical advantage provides rapid access to a population of 1.5 billion including those of Europe, the Middle East, North Africa, and Central Asia, and to a market worth more than USD 20 trillion. As it is surrounded by sea on three sides and has constantly developing railway and highway lines while Turkish Airways flies to 255 destinations in 122 countries, the passenger transportation and freight shipment integratedly support commercial activities.
Türkiye is Europe’s third-largest country in terms of a qualified workforce. The youthful population in the country is the major reason for the growth achieved in the workforce and Türkiye’s strong position in the labor market, which is better than in many countries.
Türkiye broke a new record with regard to the economic growth it experienced between 2003 and 2008 and rose to 13th place among the world’s largest economies in 2018 from 18th in 2003. (Source: IMF World Economic Outlook Report, April 2019 (IMF WEO) )
Let’s take a look at the advantages a foreign investor benefits from when starting a business in Türkiye.
01
Türkiye ranks higher on the list than many countries regarding the highly educated and competitive workforce it has. As of 2020, approximately 1 million undergraduates graduate from more than 200 universities every year. The workforce in Türkiye experiences the biggest growth among the EU countries as it becomes more and more productive every day.
02
Türkiye offers highly extensive incentive programs for investors where they benefit from low taxes whether they seek to expanse their investments or start one. Hundreds of leading global companies in automotive, energy, and retail industries take advantage of competitive R&D incentives. Additionally, companies established in Free Zones located in many areas in Türkiye are exempt from tax.
03
Compliant with international standards, the investment regulations encourage foreign direct investments and protect the rights of the investors. Various laws and implementations provide an environment where all investors share equal rights. Even though the country saw a decrease in foreign direct investments in 2020 due to the COVID-19 outbreak, the figures of the past 18 years illustrate an increase of approximately fifteenfold in the number of companies with international capital in Türkiye. Particularly İstanbul has become a strong attraction center for foreign investors.
04
Thanks to the reforms introduced in the fields of innovativeness of production, the sustainability of growth, qualified workforce, and collaboration in the international market, the average time period required to start a business shortened to 6.5 days from 38.
05
In addition to its expanding domestic market, Türkiye also offers access to approximately 1 billion consumers in the regional market with the support of free trade agreements.
06
Türkiye serves as a regional headquarters for international companies who aim to expand to different markets.
Capital | : | Ankara |
Official Name | : | Republic of Türkiye |
Official Languages | : | Turkish |
Government | : | Unitary Presidential Constitutional Republic |
Geographical Location | : | Türkiye is located on the geographic coordinates of 36° - 42° North latitude and 26° - 45° East longitude. It is on the northern side of the Equator and the eastern side of Greenwich, the prime meridian. |
Area | : | 783.562 km2 |
Population | : | 82 Million (Source: 2019, Eurostat ) |
Currency | : | Turkish Lira (TRY) |
Time Zone | : | UTC+3 |
International Calling Code | : | +90 |
Driving Side | : | Right |
Internet Domain Name | : | .tr |
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