Developing countries have a lot of opportunities in every field. When it comes to investment, Turkey is one of the first countries that come to mind as it is a natural bridge between the east and the west. Find out why Turkey is considered a great country to invest in, be it buying a property, setting up a business.
1- The Population of Turkey
Turkey officially has a population of 81 million people, and the unofficial number is almost 110 million. The average age in Turkey is 32 which means the country has a young and dynamic population. Foreign investors can find a cheap labor force, and people to employ in any field as there are many young, energetic and educated people seeking a job.
2- Strategical Location
Turkey is not only a bridge between the east and the west, but it is also a bridge between the north and the south. Its perfect location makes all the markets reachable. For example, it is not too far from European and Asian markets like Argentina and Brazil. There are direct flights to almost every country every day from Turkey. Transportation is quite fast for both outside and inside, and no high prices for marine transport. Owing to its strategical location, Turkey is a favorite country of the eastern and western people who want to spend their holiday, or set up a business.
3- Real Property Value
One of the best ways to invest in Turkey is to buy real properties as their value never decreases especially in big cities like İstanbul, Ankara, and İzmir. Big cities accept millions of immigrants, and for this reason, real property values are increasing by 20% almost every year. Moreover, investors can get Turkish citizenship by buying real property. In case they do not want citizenship, being an investor, they can extend their residency easily. The only condition when buying a property for citizenship is that the investors cannot sell real properties for three years.
4- Business Friendly Environment
To encourage foreign investors, corporate tax is decreased from 33% to 20% in recent years. Whether you are a Turkish citizen or not, the average time for establishing a company is six days in Turkey, and foreign investors are required to pay equal corporate tax as Turkish citizens. Also, incentives for establishing innovation, R&D facilities, and strategic investments are the same as the local citizens.
5- Growing Economy
Turkey has the world’s 13th and EU’s 5th largest economy. As a developing country, Turkey has a stable economic growth of 5.8% every year. According to Turkish Statistical Institute, Turkey’s export has reached $157 billion in 2017. The economy has a bright future and is expected to become the fastest-growing economy among the OECD (Organisation for Economic Co-operation and Development) countries. Besides exports, Turkey has a large domestic market which makes huge additions to the country’s economy. Here are some numbers for the domestic market.
Turkish Statistical Institute Numbers:
- 69 million internet users
- 78 million mobile phone users
- 63 million credit and debit card users (according to Interbank Card Center’s data)
- 193 million Air Transportation Users
- Almost 50 million tourists visit the country every year.
Become a Resident
Turkey is the ideal place to invest and make your home. Why not become a citizen?