TOP REASONS TO INVEST IN TURKEY:
Turkey is a dynamic and growing G20 economy that links the east and the west in a unique way. In addition to being one of the world’s fastest growing economies, Turkey also supports international investors’ growth via a business-friendly agenda and through access to a large domestic market and neighbouring international markets.
- Turkey Has a Strategic Location as a Bridge Between Asia And Europe
Turkey is a natural bridge between both the East-West and the North-South axes, thus creating an efficient and cost-effective hub to major markets.
Turkey offers easy access to 1.5 billion people and a combined market worth of USD 24 trillion GDP in Europe, MENA, and Central Asia within a 4-hour flight radius.
- Easy Raw Materials and Cheap Production
Turkey is surrounded with many kinds of natural agriculture elements as well as underground sources. Therefor it is legitimate to find cheaper products to process in Turkey. Labour force and taxes are also cheaper that leads to the solution of production facilities are much cheap and convenient compared to Europe.
- Skilled and Cost-Competitive Labour Force
Turkey's overall labour force is around 32.7 million people, which makes the country the 3rd largest labour force in Europe. Also, Turkey has the cheapest Labour force according to Europe cause of exchange rate. The minimum wage in Turkey is 320 € per month.
Hourly working rate is 45 hours per week, and over time work is 270 hours per year that means 22,5 hours per month.
Compering to EU; If we accept the minimum wage is approximately 1.000 €uro and the average wage is 3.500 €uro in EU. This means that in EU labour costs are min. 3, max. 10 times higher than Turkish labour costs.
Turkey’s young population is the largest labour force growth among the EU countries.
A rapid expansion in the number of universities has allowed Turkey to have more university graduates. Over 800,000 university graduates annually, World-class engineering education.
- Convenient International Trade Centre
Turkey is a part of European Custom Union there for the exclusive custom models are also applies during export or import situations to Turkey. It avoids the problem that the free trade zone needs to be supplemented by the principle of origin to maintain the normal flow of commodities. In this sense, the customs union is more exclusive than the free trade zone It makes the 'national sovereignty' of the member countries to be transferred to the economic integration organization to a greater extent, so that once a country joins a customs union, it loses its right to autonomous tariffs. Which makes trade easier between the members of the union with decreased custom taxes.
- Free Trade Agreement with the United Kingdom;
The Agreement concluded with the United Kingdom is one of the important trade agreements that Turkey recently signed. The Agreement ensures the continuity of the tariff-free trade between Turkey and the United Kingdom. The Agreement also paves the way for more comprehensive regulations that will improve the trade and investment relations between the two countries.
Turkey attributes great importance to foreign investment and aims to improve its foreign investment climate while defining “foreign investment”, “investor” and related terms in line with international standards. To that end, Turkey has become a party to several bilateral and multilateral investment treaties. Importantly, Turkey has also concluded double-taxation treaties with over 80 countries.
TOP REASONS TO INVEST IN IZMIR CITY:
Izmir is the third largest city in Turkey with a population of around 4 million, the second biggest port in the country and a very good transport hub. The city hosts tens of thousands of university students educated scientists, artists, business leaders and academics. It is a rapidly growing city on the Central Aegean coast of Turkey.
Izmir offers an ideal investment environment and infrastructure to investors. There are plenty of Organized Industrial Zones, Free Zones and Techno parks in Izmir. Hosting 13 Organized Industrial Zones, 4 Technology Development Zones and 2 Free Zones.
Izmir welcomes the investors with its;
- Strong Economy
- Strategic Location
- High Quality of Life
- Young and Dynamic Workforce
- Developed Investment Infrastructure
- Wide Innovation and R&D (research and development) Ecosystem
- Intense Foreign Direct Investment Interest
- Eco-Friendly Business Environment
K&P Legal has a comprehensive understanding of the Turkish market and can provide clear, strategic advice on a wide range of investment matters including the acquisition and disposal of residential and commercial property, mortgages, leases, asset managements and turnkey company establishment.
Whatever investment opportunity you are hoping to pursue, we can offer guidance on the best way to finance and structure your transaction within the guidance of EU and Turkish regulations. We can advise our international and national clients looking to invest in growth areas particularly in Turkey and Europe.
At all times, the K&P Legal investment lawyers endeavor to provide you with straightforward, timely advice in pursuit of your commercial objectives in our offices which are situated in Izmir, Istanbul and Athens.
We provide a highly personalized service that is uniquely tailored to your needs, our specialized team members will take the time to understand you, your business and your ambitions to guarantee that your expectations are not only met but are also exceeded.
For further information please check our web site.