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Turkey, An Investment Opportunity
By the
General Directorate of Foreign Investment, Undersecretariat of the
Treasury
Background
Turkey has a
unique geographical location. It is strategically located having the
Commonwealth of the Independent States bordering to her north and
the northeast, Iran to the east, Iraq and Syria to the south. Its
land on the European continent borders with Bulgaria and Greece. It
is in the Mediterranean at close proximity to the Middle East, hence
the Gulf states and the North African markets.
In Turkey
developments in foreign capital investment occurred in the early
fifties. During this period, with the formation of rapid development
strategies and international economic cooperation, the Foreign
Investment Law No. 6224 was enacted.
In 1983 with
the introduction of the outward-oriented policies major economic
policy changes, such as:
the
deregulation of interest rates; establishment of organized markets
for money, foreign exchange, stocks, and securities; liberalization
of the capital movements; reforms in the banking sector occurred.
Following these measures, protectionist economic policies were
abandoned and a comprehensive economic liberalization program was
implemented.
In this era,
one of the major policy decisions was the adoption of liberal and
flexible foreign investment policy. The Foreign Investment Law was
modified, the investment climate was made more efficient and
suitable for potential investors.
As a result
of new policies, the Turkish Lira became almost fully convertible.
Freely transfer of profits, fees, and royalties and in case of
liquidation, the transfer of capital was made possible. The equal
treatment was regarded as the basis for all investors, foreign
investors were provided with the same rights and responsibilities as
local investors. The minimum investment amount for foreigners
investing into Turkey was determined as 50,000 US Dollars.
For further
information:
Turkey: A Secure Environment
Alternate Methods of Investing
More Locations for Investments
Ten Good Reasons to Invest in Turkey
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