Nunziante Magrone, present in Istanbul since 2010, provides its clients with legal services for the activities carried out in Turkey, mainly in the fields of commercial, corporate and labor law. *.*.* Turkey is one of the world’s fastest growing and most dynamic economy with an annual average GDP growth rate of 5.1 % over the last ten years. In the aftermath of the global finance crisis Turkey’s economy reached a growth level that clearly outpaced those of western countries and granted Turkey the 16th position among the largest economies in the world. Turkey’s stable economic growth is not least a result of the country’s large domestic market and growing international investments but is also boosted by the highly developed transportation, telecommunications and energy sectors. WHY INVEST IN TURKEY Unique geopolitical position Foreign investors interested in engaging the markets of Central Asia, Middle East and North Africa can benefit from Turkey’s role as a gateway to these markets. Ongoing strong pace of growth Driven by well-‐implemented reforms, monetary policies ensuring growth and the development of an investment incentive regime, Turkey’s economy grew at a strong pace over the last decade. Cost-‐effective workforce Turkey is highly effective in terms of skilled and cost-‐effective labor force. It is ranked as 4th largest labor force amongst EU states and offers over 28 million well-‐educated and dynamic professionals. Attractive tax regime Competitive corporate tax rates (reduced from 33% to 20%) and various tax incentives created a most lucrative investment environment in Turkey for foreign investors. Incentives packages An extensive investment incentive system introduced by the Government aimed at increasing competitiveness of the investments is equally available to both domestic and foreign investors. Advantageous legal framework with regard to setting up a business With regard to setting up a business, foreign investors are offered a legal framework that is close to European standards. Companies can be established with 100% foreign capital without the requirement of equity participation by Turkish nationals. Infrastructure As often reported in western media, in the past years Turkey’s government has realized huge infrastructure projects in particular in the transportation, construction and energy sectors such as the world’s first sea tunnel linking two continents.
EU accession process As a part of the EU accession process Turkey implemented numerous reforms that contributed to the modernization of its political and judiciary system. Key sectors Key sectors in Turkey are construction, automotive, energy, transportation, banking, healthcare, textile and clothing (one of the largest supplier to the EU), retail and tourism. For any further information, please contact: Gianmatteo Nunziante Tel. +39 06 695181 Fax +39 06 69518333 E-‐mail g.nunziante@nmlex.it