Last Updated on 12/06/2023
With its vibrant economy, advantageous location, and wide range of investment prospects, Turkey presents investors with a promising environment. Istanbul, and Antalya, are mong the numerous fascinating places worth investment. Yet, every city has distinctive characteristics that cater to various business sectors and industries. As always, making successful investments requires extensive research, careful consideration, and contact with local specialists. So let’s discover together the best place to invest in Turkey in 2023.
Best place to invest in Turkey for foreigners
Investors can choose wisely the best place to invest in Turkey by taking into account several aspects. They should consider the infrastructure, labor force skills, and market potential. But of course, you should know that the investment type has an important role to decide the most suitable area.
Istanbul: The Economic and Financial Hub
Istanbul, the largest city in Turkey, is for many people the best place to invest in Turkey. Being a commercial hub in the country, it offers a wealth of investment prospects, especially after the opening of the Istanbul Financial Center. Moreover, it is a prime site for enterprises across industries. This is thanks to its strategic position, strong infrastructure, and talented workforce. Besides, the city has a healthy real estate market, a booming tourism industry, and a vibrant financial district. its investment potential is also increased by mega infrastructure projects like the Istanbul Canal and Istanbul Airport.
Ankara: The Political and Administrative Capital
Ankara, the capital of Turkey might be the best place to invest in Turkey for those who would like to invest in technology industries. O explain, the city is the location of several government agencies, defense sector businesses, and ministries. Consequently, Ankara has access to a highly trained workforce. In fact, thanks to its close proximity to prestigious institutions and research facilities, it promotes innovation and technical development. Furthermore, Ankara is a potential alternative for investors with an interest in the aerospace, defense, and IT industries.
Izmir: The Gateway to the Aegean Region
Izmir, which is located on the Aegean coast, is a significant commercial and logistical hub that connects Turkey to Europe and the Middle East. Furthermore, the city is a desirable location for firms in the manufacturing, logistics, and maritime industries thanks to its good geographic location and well-developed infrastructure. The opportunity for investment in Izmir is further enhanced by the city’s expanding tourism sector, rich cultural legacy, and proximity to well-known tourist spots like Ephesus and Pamukkale.
Antalya: A Thriving Tourism Hotspot
The Mediterranean city of Antalya is well known for its stunning scenery, immaculate beaches, and historic sites. Therefore, this city is the best place to invest in Turkey in the tourism sector. Besides, being Turkey’s booming tourism business, it provides numerous investment opportunities, particularly in the hospitality, real estate, and entertainment industries. Millions of tourists visit Antalya each year, both domestically and internationally.
Bursa: The Industrial Powerhouse
Often referred to as Turkey’s “industrial heartland,” Bursa is a significant player in the manufacturing industry. Conseqyently, the city draws domestic and foreign investors looking for possibilities in manufacturing and export-focused firms because of its reputation in the automobile, textile, and machinery industries. Moreover, Bursa’s prominence as a well-known investment location is a result of its advanced supply chain network, educated workforce, and well-developed infrastructure.
Investment Incentives in Turkey for Foreigners
After deciding the best place to invest in Turkey, interested people should be aware of the available investment incentives in Turkey.In other words, to encourage foreign investment and strengthen the economy of the country, the Turkish government has put in place a number of investment incentives. Therefore, these incentives could be a useful asset for international investors who are thinking about making an investment in Turkey,
Foreign investors are eligible for a variety of tax benefits, such as exemptions from corporations, income, and value-added taxes.
Concessions on land and property:
Foreign investors can purchase land and property in Turkey on the same terms as Turkish citizens.
Free trade zones:
These areas allow for the establishment of firms by foreign investors and provide a range of advantages, including tax and customs duty exemptions as well as streamlined investment procedures.
The Turkish government offers foreign investors a range of assistance services, including assistance with locating land and property, securing financing, and establishing businesses.
Specific incentives Types
Regional incentives: tax exemptions, subsidies, and subsidized loans are only a few of the incentives available for investments in Turkey’s less developed regions.
Industry-specific incentives: Investments in specific industries are eligible for additional incentives, such as tax rebates, grants, and subsidized loans, in some sectors, including manufacturing, tourism, and agriculture.
Incentives for strategic investments:
This is the most generous incentive. It includes as tax breaks, grants, subsidized loans, and free land and property. They are available for investments that are strategically significant to the Turkish economy.
Best place to buy property in Turkey
It’s crucial to take your investment objectives and risk tolerance into account when deciding the best place to invest in Turkey. Real estate in a big city like Istanbul or Antalya might be an excellent choice if you’re seeking a safe and secure investment. However, considering investing in a smaller city or town with a rising economy is preferable if you’re searching for a riskier investment with the potential for large returns.
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