Investing in a business is not a piece of cake. Every investor needs to make sure before making an investment whether the business is scalable and whether it can help them make substantial profits. You couldn’t agree more with the aforementioned points if you have been investing for years. Keep reading if you are eager to establish a company in Turkey.
Apart from its cultural heritage and tourist attractions, Turkey, a country between South Western Asia and Europe, is worthwhile for LLC company formation. Carrying out the registration procedure of a company in Turkey is pretty simple. However, adhering to stringent local law guidelines is imperative.
Here are the irrefutable reasons to opt for LLC-type company registration in Turkey.
Turkey’s Developing Economy
At present, one of the rapidly prospering countries, in terms of economy, is Turkey. The reason is it welcomes everyone with an innovative mindset. This country doesn’t shy away from encouraging people from all over the world to visit it in order to establish a company.
Investors from different countries are investing and contributing significantly to Turkey’s economy. It is one of the top 60 countries in the world suitable for conducting business activities. Turkey’s GDP is over USD 650 billion and is growing steadily.
Free Zone for Trading
Incorporating an LLC type of company in the free trade zone in Turkey is feasible for an investor interested in company registration. You can reap a host of benefits if you do so without breaking the local law.
You can receive different tax incentives from the government if you opt to incorporate your company in the free zone for trading. Moreover, repatriating the received funds back to your home country is also possible if you agree to form a company in the Turkish free trade zone.
Hassle-Free Business Operation
An LLC company registration in Turkey and operation is quite straightforward for foreign investors. All you need is a partner or shareholder, aside from a director, to make this happen. An investor requires a minimum capital of 10,000 TL to form an LLC-type company in Turkey.
There is no need to make the full payment initially. You have a couple of years to do the same. In addition, you do not even have to be physically present in Turkey while setting up a company. So, all these reasons help investors eliminate all their worries and conduct business operations hassle-free.
Foreign Direct Investment
Turkey has been receiving considerable investments for many years from foreign countries, including the US, UK and India. So, this is solid proof that the Turkish government helps diverse sectors receive foreign investments in Turkey.
Besides the ones mentioned above, establishing an LLC company in Turkey helps a company receive exemptions pertinent to tariffs and trade regarding Turkish goods. It is prudent to get in touch with Foreign Operation consultancy if company registration processes in Turkey need to be clarified for you.