Invest in Turkey. Make your investment in Turkey
Make your investment in Turkey. According to World Investment Report 2017 (UN Conference on Trade and Development, UNCTAD), Turkey ranked second in western Asia in terms of foreign direct investment (FDI) in the economy. Some experts believe, Turkey will become in 2017-2020 one of the most dynamically developing economies in OECD. The ongoing process of accession to the EU already had a positive impact on the business climate in Turkey. A set of several legal acts was adopted and that brought the business conditions closer to European standards and made operations more transparent. The country is a party to bilateral investment agreements with more than 80 countries, 65 of which have already entered into force. Turkey is a commercial hub in the center of western Asia, opening access to the markets of the Middle East, Africa and Central Asia. Fast-growing, consumption-oriented middle class, relatively low labour costs are some of the attractive features of this market.
Recently government has taken number of positive steps to improve the investment attractiveness of the country: assistance to investors in the form of reducing the tax burden on invested funds, companies exporting goods and services from Turkey are exempted from customs duties and VAT, they are subject to a reduced corporate tax rate. More than 20 industrial parks have been opened and are operating in the country, these are managed by the Ministry of Science, Industry and Technology.
The government also provides support to companies investing in the industrial development of Turkey`s provinces. In the past two years, the country has adopted amendments to the laws on citizenship, and foreign investors have the opportunity to obtain Turkish citizenship under certain conditions:
– acquisition of real estate worth $ 1 million and ownership of this property for more than three years;
– investment in fixed assets from $ 2 million;
– creation of at least 100 workplaces in the country;
– depositing an amount of $ 3 million in a Turkish bank for a period of at least three years.
Turkey offers excellent opportunities for foreign investors and developers. Over the past 10 years, Turkish real estate market which is still far from being oversaturated developed at a rapid pace and amounted to almost 5% of the country’s GDP. The emergence of global real estate players in the Turkish market has increased the attractiveness and competitiveness of the sector, while the ongoing process of mergers and acquisitions fuelled its overall growth. The economy of Turkey showed stable growth in 2017, GDP growth reached 5.1% in the first half of the year, and investments in construction grew by 25% y-o-y. Property purchase also became more interesting for individuals – the income from the sale of real estate is not taxed, provided that the property was owned for more than five years. The region of Antalya – one of the most attractive for investors due to the Mediterranean climate, its rich history, traditions, excellent ecology and popularity among European tourists – is on the second place among the regions of Turkey in terms of total investment in real estate, and the first among the regions with access to the sea. Investments in real estate promise to become even more attractive, given that buyers from Arab countries are planning to increase the volume of acquisition, subject to additional softening of the requirements for foreign buyers.
Our Company offers you cooperation in construction sector from the design and commissioning phase to the management of finished objects. We will be happy to provide you with additional information about our projects, and the opportunities they open.