Why Invest in Turkey?
Turkey, with a sizeable young population and high internet and credit card usage habits, is the shining star of South-Eastern Europe and the Middle East. In terms of location, Turkey is a well-positioned, attractive hub, only three hours by flight away from the most important cities in Europe and many key cities in Asia.
A key driver of the Turkish financial sector has been its robust economy with a bright future. Over the past 16 years, the Turkish economy has been growing with an average annual real GDP growth rate of approximately 5.5%, and the growth momentum is expected to continue. Turkey’s sizeable and diversified economy has achieved remarkable growth. -Turkey is currently the 19th largest economy in the world with an average annual GDP growth rate of 5.5% between 2003-2019. Turkey’s economic growth has resulted in income growth and a growing robust middle class with increasing purchasing power. As the Turkish economy has expanded, it has gradually integrated with the global economy.
A Universal and Strong Health Care System
State hospitals, social security hospitals, and institutional hospitals were merged for use by all citizens. With their modern infrastructure, high-tech devices, and qualified healthcare professionals, 12 city hospitals entered into service in 11 provinces. 10 more city hospitals are under construction.
1,526 hospitals, some 4,000 medical treatment facilities, and over 15,000 primary healthcare centers continue to provide healthcare services without any disruption.
State-of-the-art technology ambulance fleets were formed with 5,400 fully-equipped vehicles and 19 aircraft.
Targeting to reach 5,000 at the end of May, Turkey can manufacture domestic ventilators to address domestic and international demand. The budget set aside for healthcare services was increased from 19 billion TRY to 190 billion TRY over the past 17 years.
An army of medical professionals was built with the employment of around 1.4 million people.
Healthcare expenditures during the past 6 years have grown by 14%. Having 46 intensive care beds per 100K inhabitants, Turkey is leading in the list of countries including Germany (34), Austria (29), the US (26), France (16), Canada (13), the UK 11), Spain (10), Italy (9), Denmark (8) and Ireland (5).
An Unmatched Opportunity of Growth
Automotive sector:
15th largest manufacturer
1.5 million vehicles are produced yearly.
Turkey exports $31.2 billion worth of automotive, while having a market value of $24 billion.
Financial Industry
Istanbul Finance Center: Turkey has set specific economic targets to achieve soon. One of them is to transform Istanbul into a prominent financial center. Turkey’s large and young population, qualified labor force, and rapidly developing markets along with its geostrategic location appoint Istanbul as an ideal candidate for an international financial hub. Since the government launched the project for Istanbul Financial Center, Istanbul has rapidly made progress and is now considered among the emerging financial centers in the world.
Start-Up Paradise
The growing population is both digitally connected and active, evidenced by being the 10th largest market for Facebook, 6th largest market for Instagram, 6th largest market for Twitter, 3rd largest market for TikTok, and the 8th largest market for YouTube globally. Furthermore, Turkey was the 7th largest top market for mobile apps, as determined by the total number of app downloads.
In 2015, e-retail sales accounted for 2.9% of all retail sales in Turkey; e-retail reached 6.2% in 2019. In 2019, this ratio was 6.7 in developing countries and 12.3 in developed countries, with Turkey eclipsing both Spain and India.
In 2019, e-commerce grew by 18% over the previous year, reaching 14.6B USD. From 2015-2019, the average annual growth rate was 13%. In 2013, online shoppers made up only 23% of Internet users in Turkey. In 2019, this ratio had reached 68%.
A Global Connection Center
1.3 billion people and $26T GDP in Europe, MENA, and Central Asia at 4-hour flight distance. Turkish Airlines can help you reach 323 destinations in 127 with a fleet that is in constant growth.
A Global Tourism Hub!
In 2018 alone, Turkey has greeted more than 45 million tourists.
Citizenship Options Through Property Purchase or Investments!
Citizenship through Property Purchase
1) The value of the property must be a minimum of USD 250,000 before taxes.
2) A “property assessment report” must be obtained by applying to one of the organizations authorized by the Board of Capital Markets (SPK) for property assessment.
3) Application must be made to the directorate of the land registry with the required documents.
4) The directorate of title deed checks whether the receipt, appraisal report, and the declared values satisfy the criteria required in the directive.
5) If the required conditions have been satisfied, the title deed fee required to be paid for action, and the revolving fund payment must be communicated to the related person.
6) After the contract is signed and completed, a statement indicating that the property may not be sold for three years shall be registered and the title deed of the property shall be handed over to the landlord.
7) Following the completion of the transaction, the directorate of the land registry sends the transaction documents via the system to the General Directorate/Regional Directorate to issue the “certificate of conformity” for citizenship application.
8) The ‘certificate of conformity’ issued after the necessary checks have been completed is sent for action to the General Directorate of Census and Citizenship and General Directorate of Immigration Administration with an official letter, and information to the related individual by e-mail.
Citizenship Through Business Investments
1. Made a minimum fixed capital investment of USD 500,000 or equivalent foreign currency or Turkish lira, as attested by the Ministry of Industry and Technology.
2. Acquired a property worth a minimum of USD 250,000 or equivalent foreign currency or Turkish lira with a title deed restriction on its resale for at least three years, as attested by the Ministry of Environment and Urbanization.
3. Created jobs for at least 50 people, as attested by the Ministry of Family, Labor, and Social Services.
4. Deposited at least USD 500,000 or equivalent foreign currency or Turkish lira in banks operating in Turkey with the condition not to withdraw the same for at least three years, as attested by the Banking Regulation and Supervision Agency.
5. Bought at least USD 500,000 or equivalent foreign currency or Turkish lira worth of government bonds with the condition that they cannot be sold for at least three years, as attested by the Ministry of Treasury and Finance.
6. Bought at least USD 500,000 or equivalent foreign currency or Turkish lira worth of real estate investment fund share or venture capital investment fund share with the condition that they cannot be sold for at least three years, as attested by the Capital Markets Board of Turkey.
Rent Values Are on the Rise!
From Offices to apartments, per m2 value of land has been increasing for the past decade! 167 thousand foreigners have purchased property in the last five years.
Sources: Invest.gov.tr
