Imagine Sharazade of the 1001 Nights dancing exotic belly dance in a mystical palace while you are eating Turkish delights, washed down with the aroma of strong Turkish coffee with your business partner while talking about a new business venture in the oldest and most exotic empire in the old world. How can we even begin telling you about Turkey?
Turkey is a jewel whose civilization is older than the ancient Greeks and has been part of the world's richest empires since the dawn of civilization. It's been the meeting point of the Persian empires and the nations of the East and the Western empires since the beginning of civilization.
Mundo's country rating is essentially a freedom index whereby our team of specialists rates a combination of freedoms which include freedom from violence and personal attacks, financial freedom from high taxes and other government levies, and business freedom from government interference.
Political stability: 7
Turkey is a country with considerable political stability. The country has been ruled by the same political class since 2003 and especially by the former Prime Minister (2003-2014) and afterward, President Recep Tayyip Erdogan. Its sustained economic growth and accurate foreign policy towards Europe and the Middle East have enabled it to enjoy stability enough to improve the country.
Can you imagine having a passport that gives you access to 114 countries in the world from the thirteenth largest economy in the world, free entry to the states of the European Union, and the possibility to apply for the American E-2 visa? What if we told you could have all that for a $250,000 investment?
Turkey's Citizenship by Investment program, announced in 2016, has become one of the most popular programs in the world. What makes it so attractive? That for just a $250,000 investment, you can apply to become a Turkish citizen.
Yes, as you read it. By investing US$ 250,000 in a real estate property, you can enjoy all the legal benefits of Turkish citizenship, plus having a profitable, robust investment.
Turkey represents a robust an powerful banking system which is politically independent from Europe, The United States, China and Russia, and even the Arab world, which makes it a gateway for trade between these powers this means that having an account in a Turkish Bank is a sort of political risk insurance policy for your money.
It is not a secret that Covid-19 increased the risk of banks freezing money and governments are increasingly using political sanctions to justify bank freezing. Turkey does not bow to this pressure and is itself a powerful OECD partner. So, as long as you play by Turkish rules to hold your money, you can be relatively safe from interference. In other words, Turkish banks don’t need or rely on correspondent banking relationships with the other superpowers and therefore present an ideal banking diversification strategy.
When we talk about Turkey, it comes to mind a country with enormous cultural, political and economic wealth for various reasons. Taking into account that it is located between Eastern Europe and the entrance to the Middle East, this country is considered as the gateway that divides both regions.
After being the epicentre of important empires throughout history such as the Greek, Roman, Persian, Ottoman, among others, in the twentieth century, Turkey began a process of modernization that would allow them to grow politically and economically in a world that was going through two world wars and then, the Cold War.
Today´s world is full of uncertainties and having a second nationality can save your life. If you are looking for a plan B and you are wondering which is the best citizenship option to ensure your future, then you should definitely consider Turkey. In Mundo Offshore we do not hesitate for a second to recommend this country to investors from all over the world
Being a Turkish citizen will put you in the center of the world. With one foot in Europe and one in Central Asia, you will have access to 110 countries without the need to process a VISA. You will be living in one of the most dynamic and active markets on the planet. With the safeguard of a tolerant society, no matter what your creed or origin is, you are here to do business.
Having a passport that gives you access to more than 110 countries, as well as being from one of the most important countries in terms of economic growth in recent decades, Turkey, would be an incredible thing for anyone in the world.
With a huge culture, as well as several major cities, Turkey is simply an attractive place to live and to do business. People from all over the world would want to settle down in this country.
Not to mention the advantageous geographical location being the bridge between Europe and the Middle East, Turkey has a vast territory with diverse climates pleasant to anyone, especially in the regions close to the Mediterranean Sea.
We know that Turkey is a country in constant growth and that it has one of the lowest tax rates in Europe. However, there are other, lesser-known advantages that people are unaware of.
First of all, Turkey recognizes the concept of a branch office or subsidiary or representative which means your foreign company can register a Branch office utilizing Turkey and its banking system as a base.
Also, Turkey has one of the biggest collections of Free zones of any European country and the majority of these give 100% tax exemption if you open a company with employees that do the correct activities.
Not to mention that Turkish corporations can reduce their corporate tax by 50% if they operate in one of the areas of preferential services which include IT, engineering and high technology, and many others that are being prioritized by the government.
In the last decades, we have seen Turkey's exponential growth in different financial areas, becoming more and more attached to a free market economy that favours both domestic and foreign investment.
Areas such as real estate or information technology have been the turning points in the economic growth of this country, however, there are other industries with a relative growth in recent years, especially those that are considered as young industries, as is the case of the wealth management industry in Turkey.
However, we have to consider the fact that moving to another country brings many responsibilities for the person. One of the most prominent things to consider during this process is to secure and control your finances.
The different currency rates, exchanging, and transferring money to your home country may give you a headache. However, with an elaborate financial plan and management type, you can overcome these struggles.
Since they are one of the emerging real estate markets in Europe, it is very common to find projects in Turkey that have the necessary convincing power to make investors decide to buy property in this country.
We have already mentioned that the benefit/price ratio in Turkey seems to be superior to other Western European countries, so this area has been attracting a lot of attention from all over the world for those willing to spend money on these projects.
In another article we discussed the process of investing in real estate in Turkey, as well as the many reasons why an investor should consider investing in Turkey in this sector.
Ministry of Foreign Affairs - https://www.mfa.gov.tr/default.en.mfa
Turkey's foreign relations are directly linked to this ministry, which deals with international institutions and diplomats from other countries in the world, as well as directing the country's foreign policy.
Ministry of Industry and Technology - https://www.sanayi.gov.tr/
This institution is in charge of the technological and industrial development of the country, with the objective of promoting both sectors and positioning them in the international arena.
Ministry of Justice - https://www.justice.gov.tr/
This ministry is responsible for all cases related to justice, the interpretation of laws and the passing of sentences for all the nation's cases, whether they involve civilians, organisations or public officials.
Turkey is one of the most influential countries on the planet because of its rich history, strategic location and powerful economy. From the Ukraine invasion to the relationships between Europe and the Middle East, Turkey has had a major role in every geopolitical issue in this part of the planet.
Lets see some of the most relevant business news in this country in the last weeks.
Inflation skyrockets in Turkey
Yearly inflation in Turkey hitted 61% in March 2022, a 20-year high, as energy prices surged because of the Russian invasion of Ukraine and the post-COVID19 global recovery.
Two years after the uprising of the COVID-19 pandemic, humankind has developed a series of treatments and vaccines to fight the disease.
Massive vaccination campaigns have allowed governments to lift restrictions and lockdowns. This is the case of Turkey, a country that on March 3rd eased domestic measures to contain the spread of the Coronavirus.
Since March 3rd 2022, facemasks are no longer required outdoors or in well-ventilated uncrowded spaces indoors. However, these are still required on public transport, healthcare facilities, theaters or cinemas.
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