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Conveyor tips for investors
With the promotion of foreign investments the Turkish government traces, above all, the destination to make the economy of the land "country" by the attraction of foreign capital and technology transfer internationally more competitive. In addition "moreover", the differences should be compensated in the regional and champagne-oral economic development. The conveyor duration lies as a rule between three and six years.
The application "motion" for promotion of an investment plan must be put "arranged" before the formation of a company with the general directorship for foreign investments. With new investments the promotion application can be put "arranged" together with the application "motion" to the investment license. Beside an economic efficiency study the potential investor must submit farther "further" specific bases "documents" relating to of the investment plan. Whether, in the end "finally", a promotion is granted or not, it is decided as a rule within eight weeks after application position. By positive evaluation "benchmark test" and license "authorization" a conveyor document which contains the typical properties of the investment and the granted supporting measures is displayed.
The sum of the investment must reach "arrive" a certain least height whose height of the region in which the investment should be effected is dependent "subordinate". Depending on location and kind "way" of the investment the relation "ratio" of company capital and whole investment volume must lie between ten and 60 percent. The developed the region, must be the higher the company capital rate. Kind "way" and height of the promotion differs according to region and sector. Normal, development and priority-regions which enjoy the highest "top" promotion are expelled "deported". The sectors which have priority for the investment promotion are services, infrastructure, environmental care and electronic industry. Farther "further" aspects are a high technology transfer, high value added rate in the land "country" as well as good export views for the product.
With fulfilment of the conveyor criteria the kind "way" of the support of the project can be very different. In total there are 13 different supporting measures from which the most important ones are:
entire dismissal of the investment expenses
Freeing "Exemption" from different fees
Value added tax freeing or restitution "compensation" with import "importations"
free assignment of state land "country"
partial cover of the relocation expenses by grant of credit
Invest in foreign trade zones
Increasingly foreign investors make use of the possibility to invest in one of the Turkish clear areas. In these zones settled companies are promoted and see themselves as a rule compared with slightest bureaucratic obstacles than in remaining Turkey. Responsibly for the foreign trade zones the state office is for foreign trade where with the general directorship for clear areas a special drop-in center has been set up for interested investors. Principal purpose of the foreign trade zones should be to attract "lure" foreign capital and to create workplaces "jobs" just in structure-weaker regions.
Within the zones every industrial and commercial activities as well as all kinds "ways" of services can be carried out, provided that a suitable license has been given by the general directorship. Because the clear areas do not belong to the customs territory of Turkey and the shops "dealings" are dealt with generally in foreign currencies, the high inflation rate in Turkey has no negative consequences on the current shops "dealings".
In 21 expelled "deported" clear areas which were opened "disclosed" up to now about the whole land "country" scattered are meanwhile more than 3,000 companies, under it "among them" 543 foreign companies active. In the foreground of the foreign engagements "commitments" stand, above all, Istanbul and environment, Izmir, Antalya, Mersin and Adana. However, the zones could be interesting also for an alignment to the former Soviet Union on the Black Sea coast as for example Trabzon.
Big "Great" differences arise "surrender", above all, concerning the pricing in the single zones, so that before a possible investment a precise comparison of the being possible locations should be carried out, while the extensive service performances of the zones absolutely show differences. The juridical basic conditions "determining factors" are same "identical" against it "however" basically for all zones. There is a uniform legislation and it no withholding taxes, corporation taxes and wage taxes result. Indeed, social security contributions must be performed on the wages. According to tax law there lie the zones on "neutral" ground "bottom". Nevertheless, tax facts of the matter as for example the profit distribution in the homeland remain relevant. The double taxation agreement plays in this respect no role "roll". Tax advantages will affect here always only when possibly the profits are tipped out not to the German investor, but are reinvested by the company in the clear area.
The advantages of an investment in a foreign trade zone are:
no elevation of corporation tax and income tax
no value added tax
no import duties
duty-juridical treatment "processing" of the zones like "foreign country "abroad""
a little bureaucratic obstacles
no setting up of a company according to Turkish right "law" inevitably
good transport binding also in seaports and airports
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