The advantages of investing in a free zone in Turkey
The free zones in Turkey offer important advantages to investors who set up companies there. The incentives and advantages include:
- 100% VAT exemption;
- 100% exemption for customs duties;
- 100% exemption from corporate tax and income tax;
- 100% foreign company ownership;
- Easy transfer of profits;
- No time limits for stocking goods;
- Companies are treated equally.
In order to be able to open a free zone company in Turkey, the investor must choose from the following business activities:y abroad.
- Manufacturing and production,
- Purchase and selling,
- Assembling and disassembling,
- Repair and maintenance,
- Banking and insurance etc.
- Leather Products
- Machinery and equipment;
- Furniture for residential and office spaces;
- Textiles and garments.
- Electrical and electronics;
- Machinery and equipment production;
- Textiles and fashion
- Gold metal processing;
- Furniture production;
- Food processing and exporting;
- Financial services;
- Production of various light industry goods.
Those interested in stock exchange listings can set up free zone companies in Turkey in the special economic area with the same name. Companies here can operate in the commodities trading sector, however, they must also obtain the special licenses for completing the activities of free zone company.
If you need help in company registration in Turkey, our local Team advisors can guide you.
Our company formation agents in Turkey can provide a complete list of the types of activities approved by the Council of Ministers. Investors can open a company in the Turkey free zone or a branch of a foreign company abroad.
Requirements to open a free zone company in Turkey
Turkish company formation procedure in Turkey free zones
Opening a free zone company in Turkey implies
- Selecting a business form – the limited liability is often the preferred choice of investors;
- Setting up a corporate bank account and signing a lease or rental agreement for an office space in the Turkey free zone;
- Registering the chosen business form based on the Articles of Association with the Trade Register in Turkey;
- Registering for taxation purposes, but also with the Customs Authorities in Turkey;
- Applying for the free zone operating license with the authority governing the Turkey free zone to operate in.
Turkey free zones have many advantages, among which the ones mentioned above. The corporate tax exemptions when opening a free zone company in Turkey are granted for unlimited periods of times, while the operating licenses can have a validity of 10 to 30 years.
Turkey free zone companies have access to international markets, but also to the Turkish market which is one of the largest in the Eurasia region. Also, the workforce in Turkey free zones is cheaper compared to other countries. The access to Turkish ports is easier when creating a free zone company. Free zone companies also benefit from tax free utilities, such as electricity and water.
For more information about the free zone and details about the other free zones and special investment areas in Turkey, please do not hesitate to contact Turkey Business Zone Team in Turkey. We can assist foreign investors who want to take advantage of full ownership to set up free zone companies in Turkey.