Turkey

The present Commercial Code – the basic law governing companies – has been in force since 1957 almost without modification. Its replacement has now been enacted and comes into force in stages. The first main stage is expected to be implemented on July 1, 2012.

If Turkish tourism sector has been struggling to breaking into the high-value visitor market, the tides may be turning. The past two years have been characterised by a marked increase in arrivals from the Middle East. Drawn by Turkey’s growing regional presence, expanding facilities and cultural similarity, Middle Eastern guests are diversifying –...

A young, tech-savvy population with rising incomes and a receptivity to new ideas makes today’s Turkish media audience a desirable market for investors. A 2011 report by global consultants PwC suggested that by the end of 2015, Turkish entertainment and media would be worth roughly $11.4bn, with annual growth rates averaging 13.2% over the 2011-15...

Long described as a “bridge of civilisations” by locals and travel writers alike, Turkey is now enjoying a new inspiring status: an island of stability. Surrounded by Arab uprisings and eurozone crises, the country is attracting attention and visitors with its economic growth and increasing international prominence. In 2011 Turkey hit its goal of...

RESIDENCE: Residents are fully liable under the Turkish tax system: that is, they pay taxes based on their worldwide income. Non-residents have limited liability and are subject to tax on their business earnings derived in Turkey.

The Turkish economy has emerged from the world’s most recent financial troubles relatively unscathed. That, coupled with its image as a star performer among emerging markets, has made the country a favourite destination for foreign capital. As a result of both this inflow of foreign capital and the accumulation and livening of domestic capital, the amount of large-scale...