5 reasons why to invest in Turkey
Turkey today shows high and stable economic growth, thereby offering foreign citizens a large number of directions for profitable investments. One of the fastest growing sectors is the real estate market. The rise of prices for the property in the country is confident. This trend is especially noticeable in the resort regions located on the Mediterranean coast. Combined with low tax rates for the purchase and subsequent ownership, investing in Turkish real estate is a safe and win-win option that will not only save, but also increase your investment. This area is attractive for investment for several reasons:
In 2018, Turkey launched its own program of citizenship for investments. When buying real estate, a foreign investor has the right to obtain the Turkish passport.
“Sonmez Real Estate & Construction” is ready to offer you the most reliable and promising options for a profitable investment in Turkish real estate.
Turkey is one of the most promising real estate markets in Europe. With its strategic location at the crossroads of Europe, the Middle East and Central Asia, and with an estimated population of 81 million people, Turkey offers excellent opportunities for developers and investors, combining a vast construction sector with increased commercial and industrial production.
Some information and key indicators related to the Turkish real estate sector:
In 2018, the Turkish government introduced the possibility of obtaining Turkish citizenship in a short period. Anyone who has bought property worth $ 250,000 or put in deposit $ 500,000 in Turkish banks can apply. In this case, the applicant is not entitled to either sell this property or withdraw money from the account for 3 years. Also, those who have made investments in the Turkish economy in the amount of at least $ 500,000 and those who have created 50 jobs for Turkish citizens can apply for citizenship in an accelerated mode.
Also, entrepreneurs and investors can apply for the Turquoise Card, which guarantees almost the same rights as ordinary Turkish citizenship.
Required Documents for Application for Turkish Citizenship by Investment
Preparation of documents for obtaining citizenship requires special knowledge and experience. Since each applicant in his particular case may have different conditions, we recommend that you contact our company for legal support. We provide you with full support in the preparation of documents.
List of required documents:
Tourism is one of the most important sectors in the Turkish economy and has been playing an increasing role in recent decades. It employs about two million people (510 thousand directly, another 1.5 million in related industries). The country is the sixth most popular tourist destination in the world and continues to offer ample investment opportunities in both established and emerging subsectors of the tourism industry.
Thanks to its favorable geographic location, existing potential, mega-projects and ambitious targets set for 2023, the tourism sector continues to grow at a rate that exceeds its capacity. Although investment has increased over the past few years, there are still countless opportunities for new businesses. The regions of Eastern and Southeastern Anatolia have untapped tourism potential. The same applies to the increasingly popular boutique hotel concept, which blends perfectly with the characteristic nature, history and culture of these regions.
Here are some key facts and figures about Turkey’s tourism sector:
The growth of the Turkish tourism industry in recent years has been higher than the global average, and the industry’s direct contribution to the current account deficit in 2017 was 36%.
At the end of 2017, 12,856 hotels were registered. 9,186 of these institutions were licensed by the respective municipalities, and the remaining 3,670 were licensed to manage tourism. The total aggregate capacity of these facilities exceeds 1,482,492 units.
Currently, 281 promising projects are under way, which will add 74,130 places needed to overcome the shortage facing Turkey.
With regard to religious tourism, Turkey is one of the few countries in the world where the shrines of the main religions are located. A total of 316 relics, 167 relate to Islam, 129 Christianity and 20 Judaism.
Antalya is the most popular city in Turkey in terms of the number of foreign visitors arriving. In 2017, Antalya was visited by 25% of foreign tourists. There are more than 500 4-star and 5-star hotels in the center and more nearby cities such as Kemer, Belek and Kas.
Since 2001, the number of hotel chains and hotel groups in Turkey has doubled to 165. The number of hotels in these 165 chains in Turkey reaches 824. In addition, 82% of these hotel chains and groups are owned by Turks, 15% are foreigners and 3% – to national and foreign partners.
Turkey has 7,200 km of coastline and ranks 2nd out of 38 countries with 454 blue flag beaches; it is ahead of Spain with 579 beaches of this type. Turkey also has 22 Blue Flag marinas.
In terms of geothermal tourism potential, Turkey is among the first seven countries in the world and ranks 1st in Europe with 1,500 thermal springs. The total capacity of the various resorts has reached 55,140 people.
Belek region is the most important destination for golf in Turkey and is among the most popular tourist destinations in the world with 15 golf courses, with 50 000 beds, and the flow of two million tourists. In addition, Belek received the Best Golf Destination in Europe award from the International Association of Golf Tour Operators (IAGTO) in 2008.
By 2023, the tourism sector has set annual targets of 50 million tourists and revenues are estimated at US $ 50 billion.
The Turkish government offers incentives and policies for low-cost utilities and tax breaks. It is also working to remove bureaucratic barriers that could undermine growth in the tourism sector.