Business In Turkey for Foreigners, Turkey is a country located in Southeastern Europe and Southwestern Asia.
(the portion of Turkey west of the Bosporus is geographically part of Europe), bordering the Black Sea, between Bulgaria and Georgia, and bordering the Aegean Sea and the Mediterranean Sea, between Greece and Syria.
Business In Turkey for Foreigners
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Business In Turkey for Foreigners: Istanbul is the largest town in turkey and also the commercial capital of the city.
Its religion is about Muslim 99.8% (mostly Sunni), other 0.2% (mostly Christians and Jews). with the national symbol of a vertical crescent moon with adjacent five-pointed star; national colors: red, white.
The countries economics and social development since the year 2000, has to lead to an increase in employment and incomes. and this made Turkey an upper-middle-income country.
Turkey is the sixteen largest world economy at the same time the sixth-largest in Europe.
It is the 15th-largest salt-producing country in the world, and it averages 4,000,000 metric tonnes annually.
Turkey has attracted large foreign investments over the last few years because of its location. people have always chosen turkey for business tan other countries.
The country presently produces many goods including automotive, electronics, and petrochemicals. therefore there are a lot of business opportunities in turkey today.
Turkey’s Business environment
Business In Turkey for Foreigners: Turkey’s corporate law is based on the principle of equal treatment, entitling international investors to the same rights and duties as local ones. However, foreigners must request special authorizations to invest in a few regulated sectors such as energy or aviation.
Even as it is so on above mentioned, you should also understand that starting up a business or setting up a company outside your home country is not always easy.
Some of the main reason is that you have to learn the business environment of the country first, understand the laws guiding the environment, go for one registration to another, observe the country’s cultures and norms, obey the foreign policies, rules and regulations, pay some additional taxes as a non-indigene, etc.
Business In Turkey for Foreigners: Sometimes after thinking of all this, one may think it may not go successfully with the business, and many others are afraid of giving it a try.
But don’t worry we are going to show you step to step, easy ways to set up a business in Turkey as a foreigner.
Turkey is an open economy basically influenced by Europe. the country is part of NATO and various other organizations like G-20.
It has general agreements with various countries in Europe for cross-border trade where negotiations on tariffs were discussed which now benefits both the countries.
Also the country falls in a location that attracts tourists, directly boasting the countries economy. agriculture also contributes to the countries economy.
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Before starting up a business in Turkey as a foreigner consider the basic factors below:
- Getting a Visa for Startup
- Residential Permit
- Getting Capital Investment
- Deciding the Legal Entity of the Business
- Legal Issues
- Growth of Business
- Managing Employees
- Bank Accounts, Profit and Accounting
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Business In Turkey for Foreigners: when the above mention document is intact then proceed for the business of your choice. Consider the following businesses:
Business In Turkey for Foreigners: As a foreigner, you can start real estate, construction of private and public space, taking part in city renovation projects, and many other infrastructural constructions. this business is really profitable in the city of turkey.
Checkout: Top Profitable Businesses in Turkey
There are a thousand and one construction companies within the country., look for the one that is friendly to you.
Becoming a civil engineer or starting a business in construction with modern tools and technology that address the concerns of the environment and energy efficiency. Become a software engineer to ease your starting a better business in Turkey
This business can boast your finance as a foreigner and a beginner, and it is easier to start.
Business In Turkey for Foreigners: The city of Turkey fall in a strategic location where it attracts Tourists from different part of the world.
There different part of the country which holds utmost significant to some of the religion, like the Muslim, Christian, the Jews, etc.
You can become a tourist agency guiding the tourists on their part to their different locations.
As a tourist, you may like to study in Europe to add more experience to your love for tourism.
Business In Turkey for Foreigners: Tourism is a lucrative business for many foreigners who spent a reasonable amount of time in the city before you will be able to carry out this operation.
It is this way because, it is for those who know the part that can lead others to their main destination.
Business In Turkey for Foreigners: Automotive
Business In Turkey for Foreigners: Investing in an automotive setup that produces quality spare parts would be a very good choice to make. the study has shown that 25% of the population in Turkey owns a car, and it has been astronomically growing since early 2000.
You will also understand that till this year there are a thousand and one automotive Factories for the local Automotive spare parts, production. Considering this one understands that cars will be available to a large number of people and prices will be significantly less because of local production.
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You can invest in an Automotive setup that produces quality spare parts, this would be a lucrative business to do in the city of Turkey.
Business In Turkey for Foreigners: Information technology
Turkish IT is not anywhere near Silicon Valley, This is a great opportunity for a foreigner who is a software developer, PHP developer, Data analyst, etc.
You can actually start to develop new apps and stuff through biotechnology, nanotechnology, and electronics.
Business In Turkey for Foreigners: Due to laws by the European Union. there are no many telecom companies. use your talent if you are in the area of information technology.
You have to also understand that to start this type of business you need to have enough capital in hand to enable you to run a successful business.
Business In Turkey for Foreigners: Hazelnut Farming
Business In Turkey for Foreigners: It has been rated that Turkey produces almost 80% of the world’s hazelnut production.
Agriculture is one of the main parts of the city’s economy. hazelnut farming, packaging, and exporting is a profitable business.
Get online loans to expand your business.
This business can be easily started, with a little amount of income at hand. farming has always been profitable. e-business to do. so as a foreigner you can gradually start this business.
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Business In Turkey for Foreigners: Natural Stone
Business In Turkey for Foreigners; Natural stones onyx, turf, limestone, basalt, granite, travertine, andesite, diabase, and slate are all mined from Turkey, and it is the 4th largest marble producer, around the world.
Looking at the city, it is surrounded by ocean from three sides so there are bound to be mountain ranges. Check out business insurances available for your business in Turkey
Therefore choosing a career in mining or investing your money in this sector, will surely be a good business to always do.
Business In Turkey for Foreigners: Textile
Business In Turkey for Foreigners: Turkey has many factories that manufacture goods, chemicals, and raw products. The textile industry is responsible for exporting textiles to European countries.
Therefore, textile factories are always looking for investors because there is a huge return on investment. so get a job in the textile industry, and you will not regret having started a business in the city of Turkey.
Business In Turkey for Foreigners
Business In Turkey for Foreigners: There are other simple businesses you can start as a foreigner in Turkey, and remember it is not as hard as many people think.
All you need to do is have all the required documents and set for the business of your choice.