Turkey is a nation that has a tourist, commercial, and investment environment all at the same time, so it draws the attention of investors from all over the globe, as well as the fingers of those seeking for productive and lucrative business ventures. we will discuss the best methods to start your business in turkey as well as the most successful projects that you may undertake in turkey in this post.
published: 14 September 2022 / updated: 13 March 2024Share
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.
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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.
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Purchasing property in any place in the world has its boring necessities. Buying real estate in Turkey is not much different from other parts of the world as the purchaser must follow some legal steps in order to be an owner in the country.
Turkey Limited Company Registration A Turkish Limited Liability Company (LLC) must have a capitalization of 10,000TL and 1 to 50 shareholders to be formed. A partnership care is determined for an LLC shareholder based on the nominal value of capital committed to. In some circumstances, regardless of nominal value, each shareholder's whole share is treated as one equity share. Transfers of shares in an LLC are subject to significant limitations (such as approval by other shareholders representing 75% of the capital) and may be prohibited entirely.
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When it comes to jewelry.turks are among the most professional manufacturers and traders. this is because of the rich history of this city and its strategic location that connects europe with asia. many centuries ago, people of istanbul were able to learn the secrets of jewelry design, production, and trade.