Turkey
Finance in Turkey
Recent forum posts
-
Varsity Maker
A Varsity Jacket is a timeless piece of outerwear that is both elegant and comfortable. Its traditional style includes contrasting sleeves, snap buttons, and a plush lining for added warmth. Varsity Jackets are ideal for students, athletes, and anybody who enjoys a sporty style. It may be worn for informal occasions, school days, or cold evenings. Many individuals customize it with patches or init
Total Posts: 1 Last post by michalej758
-
Best Assignment Help Australia for Subject-Specific Support
Finding reliable academic guidance is essential for students aiming to excel in competitive universities. Our best Assignment Help Australia service delivers subject-specific support tailored to diverse academic disciplines, including management, engineering, nursing, law, and information technology. With expert writers who understand Australian university standards, we ensure every assignment is
Total Posts: 1 Last post by alexwilson
Financing Your Business in Turkey
Government Finance and Incentives
The Turkish government offers a number of finance and tax incentives for UK businesses looking to start up or expand a business in Turkey. Information and contacts can be found at www.invest.gov.tr
Support for SME (Small and Medium Enterprises)
Aimed at companies working in education, healthcare, mining, agro-industry, tourism and software development. The business must employ less than 250 employees and have an annual turnover of less than TYR25million. The benefits include:
- Exemption from custom duties
- No VAT taxation
- Credit allocation from the company budget
- New credit guarantee support
The KGF (Credit Guarantee Fund) offers financial support and the KOSGEB (Small and Medium Sized Industry Development Organization) offers support in areas such as research and development, marketing and training.
Industrial Thesis Program (SANTEZ)
With the intention of stimulating investment in new technologies, funding and support is offered for businesses working on scientific or technical projects. This also covers process development, quality improvement and modification projects and the following incentives are offered:
- Up to 75% financial support for a project through direct grants
- Laboratory, materials and equipment support
- Approval for a project proposal in 4 months by an independent commission.
Environmental Development
The TTGV (Technology Development Foundation) was established to encourage the development of environmental technology. The fund covers renewable energy production, energy efficiency improvement and environmental impact-reducing projects. The foundation offers the long term interest-free loans to companies looking to invest.
Free Trade Zones
The government has set up special areas to encourage foreign investments with the following incentives:
No customs duties and other assorted duties.
- No corporate income tax for manufacturing companies.
- No VAT or special consumption tax.
- No income tax on employees salary (subject to export conditions).
- No foreign exchange controls
There are also general exemptions from import duties and VAT for UK businesses investing in Turkey, although this varies depending on the location, scale and subject of the investment.
Private Finance
Credit from financial institutions is available from a variety of private financial institutions such as the HSBC, which have branches in the country. As with all commercial loans, a strong business plan and an understanding of the local business conventions and etiquette are important if pursuing this form of finance. It is also advisable to secure the services of an accountant.
