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Istanbul Fact Sheet

Istanbul Fact Sheet
ISTANBUL DEVELOPMENT AGENCY Regional Development Agencies have initiated a new era, bringing a boost to local  socioeconomic development in Turkey. The agencies coordinate the socioeconomic tendencies on a regional level by bringing together all the stakeholders including public sector, private sector, academics and Non-Governmental Organizations  NGOs), for the shared future of each region. Team Spirit @the Agency…
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TR – Snapshot

TR – Snapshot
Official Name of Country Republic of Turkey Capital City Ankara Government Parliamentary Democracy Population 78.7 million (2015) Labor Force (Population) 29.7 million (2015) Median Age 31 (2015) Official Language Turkish President Recep Tayyip Erdogan Prime Minister Binali Yildirim Area 783,562.38 km² Coordinates 39° 55' North, 32° 50' East Time Zone GMT +2 Neighboring Countries Bulgaria,…
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Economic Outlook

Economic Outlook
The Turkish economy has shown remarkable performance with its steady growth over the last decade. A sound macroeconomic strategy in combination with prudent fiscal policies and major structural reforms in effect since 2002 has integrated the Turkish economy into the globalized world, while transforming the country into one of the major recipients of FDI in…
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Legal and Political Structure

Legal and Political Structure
Constitution The Republic of Turkey amended its Constitution for the first time in 1924. It retained the basic principles of the 1921 Constitution, most notably the principle of national sovereignty. As in the 1921 Constitution, the Turkish Grand National Assembly was deemed the "sole representative of the nation." The Constitution of the Republic of Turkey…
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Living in Turkey

Living in Turkey
An increasing number of people from various parts of the world are moving to Turkey to start a new life, to work, or even to find peace of mind for their retirements. The country has developed dramatically in the last fourteen years, and the pace of progress in certain fields is nothing short of astonishing.…
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10 Reasons to Invest in Turkey

10 Reasons to Invest in Turkey
1. SUCCESSFUL ECONOMY Booming economy; more than tripling its GDP, reaching USD 720 billion in 2015, up from USD 231 billion in 2002 (TurkStat) Stable economic growth with an average annual real GDP growth rate of 4.7 percent between 2002 and 2015 (TurkStat) Promising economy with a bright future as it is expected to become…
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Access to Finance

Access to Finance
The Turkish banking sector, which is the 2nd largest banking system in Emerging Europe after Russia, is well capitalized and highly liquid, allowing it great flexibility to provide financing for investors in the country. In addition to banks, the Turkish credit market allows investors to access to project financing through leasing and factoring companies. There…
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Establishing a Business in Turkey

Establishing a Business in Turkey
Overview Turkey’s FDI Law is based on the principle of equal treatment, allowing international investors to have the same rights and liabilities as local investors. The conditions for setting up a business and share transfer are the same as those applied to local investors. International investors may establish any form of company set out in…
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Investment Zones

Investment Zones
There are three types of special investment zones in Turkey: 1. Technology Development Zones - Technoparks Technology Development Zones (TDZ*) are areas designed to support R&D activities and attract investments in high-technology fields. There are 63 TDZs of which 50 are operational and 13 have been approved and are currently under construction. Advantages of TDZs…
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Investment Legislation

Investment Legislation
Turkey’s investment legislation is simple and complies with international standards, while it offers equal treatment for all investors. The backbone of the investment legislation is made up of the Encouragement of Investments and Employment Law No. 5084, Foreign Direct Investments Law No. 4875, the Regulation on the Implementation of the Foreign Direct Investment Law, multilateral…
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