How To Start A Business In Turkey?
The Turkish economy ranks 16th in the world and is presently the sixth biggest in Europe, making Turkey a high-growth market for numerous investments and businesses. Turkey’s rapid development, youthful and skilled workforce, and strategic position between Asia and Europe make it an appealing place for expansion and investment.
Among the areas that make it easier to establish a small business in Turkey is the services sector, which accounts for about 65 percent of the Turkish GDP, while agriculture accounts for approximately 26 percent. However, the agriculture industry remains one of Turkey’s biggest employment sectors. Tourism is also a significant source of income. Turkey is rated sixth among the most popular tourist destinations in the world, while banks and the construction industry are also significant income generators.
If you are an investor wondering how to start a project in Turkey, examine the following list of best-proposed ventures in Turkey:
Turkish Automobile Industry
If you are wondering how to start a company in Turkey, you should do the automobile trade since just 25% of the Turkish population has a vehicle, but the consumer middle class has been increasing in size since 2000, and therefore a huge increase in domestic usage of cars is anticipated. Furthermore, there is a severe lack of suppliers in the auto parts industry, making it difficult to earn a significant profit if you begin selling vehicles or replacement parts in Turkey.
Constructing And Building
If a small investor asks you how to establish a project in Turkey, tell him to invest in the construction and building industry. Construction is a critical industry in Turkey, and it is a major generator of both public and private investment. There are a lot of construction firms in Turkey, but there are still a lot of gaps in the environment and infrastructure, therefore there are a lot of possibilities for investors to work in the construction industry. If you have a solid experience in engineering or construction, you may simply start working in Turkey or establish a business that distributes building raw materials. Construction and building in Istanbul especially is a very revenue-making industry. The city is full of culture and people with amazing attractions, restaurants etc. That is why you can find many customers in Istanbul.
How Do I Start A Business In Turkey?
You must visit the Turkish Chamber of Commerce, which has offices in all major cities and most smaller cities across Turkey. After completing and legally verifying your commercial documents, contact them within 15 days to arrange for registration in the Trade Register.
A Turkish business registration application form, a written application for registration, evidence that you are a founder member, a letter of commitment to an obligation imposed by Article 29 of the commercial register rules, and a receipt for the required amount must be submitted.