The Turkish government has passed a regulation that simplifies the process of investing in Turkey by foreigners. The regulation, which was published in the Official Gazette on August 1, 2023, reduces the number of required permits and approvals for foreign investors, and it also establishes a one-stop shop for foreign investors to obtain the necessary permissions.

The regulation is part of the Turkish government's efforts to attract foreign investment and boost the economy. Turkey is a strategically located country with a large and growing market. The government hopes that the new regulation will make it easier for foreign investors to do business in Turkey and help to create jobs and boost economic growth.

Key Provisions of the Regulation

The regulation includes the following key provisions:

  • Reduced number of required permits and approvals: The regulation reduces the number of required permits and approvals for foreign investors. This will make it easier for foreign investors to obtain the necessary permissions and start their businesses in Turkey.
  • One-stop shop: The regulation establishes a one-stop shop for foreign investors to obtain the necessary permissions. This will make it easier for foreign investors to navigate the Turkish bureaucracy and get the permissions they need to start their businesses.
  • Guarantees for foreign investors: The regulation guarantees foreign investors the same rights and protections as Turkish investors. This includes the right to transfer profits, the right to repatriate capital, and the right to access the Turkish court system.

Impact of the Regulation

The regulation is expected to have a positive impact on foreign investment in Turkey. The regulation makes it easier for foreign investors to do business in Turkey, and it also guarantees foreign investors the same rights and protections as Turkish investors. This is expected to attract more foreign investment to Turkey and help to boost the economy.

Conclusion

The Turkish government's decision to pass a regulation that simplifies the process of investing in Turkey by foreigners is a positive step. The regulation is expected to make it easier for foreign investors to do business in Turkey and help to boost the economy. The regulation is also expected to attract more foreign investment to Turkey, which will create jobs and boost economic growth.