According to Foreign Direct Investment Code, real person who have the citizenship from another state and Turks who live abroad could be foreign investor. Also, the legal entities or international entities which are established thorough a foreign state’s law can be accepted as a foreign investor. Foreign investors can establish a new company in Turkey. However, being a partner of a company is more easy way to make investment.
Work permit is needed while opening a company or giving license of work permit. Thus, a foreign should need work permit to be able to make investment in Turkey.
- What is “work permit”?
It is a document which gives a foreign right to work and right of residence. There will be some sanctions if the foreign would not apply to Ministry of Work and Social Security for work permit. There are three type of permit such: temporary, indefinite and independent.
Foreign investor should take the work permit for himself/herself and also his/her foreign employees.
- Other Requirements
Share of capital should not be under 40.000 TL, is at least 20% for the foreign who need work permit Also, there should be five Turk employees at the company. Amount of the wage which will payed to foreigner has to be directly proportionate to the duty of the foreigner. According to article 48 of The Regulation on Implementation of International Labour Force, there are exceptions for work permit.
As a result, foreigners can be able to make investment in Turkey. There are two ways for investment such: establishing a new company and being a partner of a company. The work permit is necessary for both ways. Otherwise, the foreigner might be faced some sanctions. If the exemption conditions are provided, then the work permit would not be necessary anymore.
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