Investing Property in Turkey
At this time, Turkey is preparing new laws and regulations in order to become a full member of the European Union. The expectation is that the process of joining the European Union will take 2 to 3 years. After that, prices of Real Estate will most likely rise to a near European level. Therefore this is the right time for Investing in Turkey, and we have the right professionals to help you do so.
Turkey has a wide range of opportunities on offer for the foreign investor. Reasons for investing in Turkey include the following:
The country is strategically situated, close to Central Asia, the Middle East, North Africa and the European markets.
Agreements between between Turkey and 39 other countries to promote and protect mutual investments as well as an agreement to preclude double taxation.
Since 1996 there has been a customs union with the European Union and since 1999 Turkey has been a candidate member of the European Union.
A very liberal investment climate, including free (international) movement of capital, profits, dividends and salaries, free-trade zones and subsidies.
No government price regulations.
STRONG>A large labour force at relatively low costs.
Large home market with 62 million consumers.
A modern infrastructure.
A prominent European holiday destination.
The World Trade netanisation considers Turkey to be one of the most dynamic countries.
Although the first law regarding foreign investments dates back to 1954, Turkey was a relatively closed market to foreign companies until 1980. Previously, for instance, a Turkish citizen was not allowed to smoke American cigarettes and therefore the import and export was at a very low level.
Like many other countries, Turkey found itself in an acute economic crisis in 1979. Pressurised by the IMF, a policy of far-reaching liberalisation was chosen, especially focused on attracting foreign investors and promoting export. One of the main policy decisions regards the approval of a liberal and flexible foreign investment policy. The Foreign Investments Act was adjusted and the investment climate was made more attractive and better tailored to potential investors.
These opportunities and the liberalisation developments did not escape foreign investors’ attention. So you can be assured that your investment in Turkish property will not be lost...
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