İs Turkey a Good Place To Start a Business?
İs Turkey a Good Place To Start a Business? Starting a business in Turkey can be a promising venture due to various factors highlighted in the search results:
- Strategic Location: Turkey’s strategic location between Europe and Asia, with cities like Istanbul serving as a bridge between continents, offers significant advantages for businesses.
- Low Operating Costs: Turkey provides lower operating costs compared to countries like the UK or US, making it an attractive option for entrepreneurs. The cost of living, labor, and suppliers is relatively low while maintaining quality standards.
- Strong Consumer Spending: The young population in Turkey has a good level of disposable income and a penchant for spending, presenting opportunities for businesses targeting this demographic.
- Local Manufacturers Support: Turkey has local manufacturers willing to assist and support investors, offering flexibility in orders and closer collaboration for businesses.
- Government Incentives: The Turkish government supports foreign investors through various incentives like tax exemptions, social security premium support, and more. Foreign investors can also apply for Turkish citizenship under certain conditions.
- Ease of Business Setup: Establishing a business in Turkey involves straightforward procedures that can be mostly carried out online. From getting a tax number to determining the legal entity type, the process is streamlined and efficient.
- Strategic Location: Turkey’s strategic location between Europe and Asia, with cities like Istanbul serving as a bridge between continents, offers significant advantages for businesses
Overall, Turkey’s growing economy, geopolitical position, young population, and government support make it an appealing choice for starting a business.
What are the most profitable industries to start a business in turkey?
Some of the most profitable industries to start a business in Turkey include:
Agricultural Sector
Investing in agriculture in Turkey can be profitable due to the fertile soil, favorable climate, abundance of water resources, and government support for agricultural investment. Opportunities include projects like walnut farming, hazelnut farming, vegetable and fruit cultivation, olive cultivation, livestock projects, and beekeeping1.
Real Estate
Real estate investment in Turkey is lucrative and considered one of the safest ways to make money. With constantly rising real estate prices, options include buying property for resale or rent, investing in under-construction properties, tourist facilities, or for residency and citizenship purposes12.
Industrial Projects
Establishing an industrial project in Turkey is advantageous due to the country’s developed industrial sector. Opportunities exist in various industries such as textile, food, furniture, chemicals, iron and steel, dairy and cheese, plastics, automobiles, and spare parts2.
Commercial Projects
Turkey offers diverse profitable commercial opportunities where investors can establish small or large businesses easily. Options include investing in shops, commercial offices like shipping or exchange offices, and warehouses.
Goods Delivery Services
Starting a goods delivery service in Turkey can thrive due to the high demand from local stores that do not provide delivery services. This business can be successful with a means of delivering goods such as a vehicle, motorbike, or bicycle.
Construction Industry
Construction is a key sector in Turkey with opportunities for both large and small companies offering niche services. Opening a construction company can be a profitable venture due to the high demand for new developments and housing.
Automotive Industry
With a large market of car owners but a need for more suppliers of automobile parts, starting a business that manufactures or imports vehicle spare parts can be lucrative in Turkey.
Telecom Subcontracting
Becoming a telecom subcontractor in Turkey presents interesting opportunities in providing services to telecom operators through direct subcontracting arrangements.
These industries offer promising prospects for starting a business in Turkey due to factors like low operating costs, strong consumer spending trends among the young population, government incentives for foreign investors, and the country’s strategic location at the crossroads of Europe and Asia.
The legal requirements for investing in the agricultural sector in Turkey include several key conditions and controls to ensure equality and successful planning. Here are some of the main requirements outlined in the search results: