The Republic of Turkey is a transcontinental country located at the crossroads of Europe and Asia, extending across the Anatolian peninsula and into the Thracian peninsula in the Balkans area. It borders Georgia to the northeast, Armenia, Iran and Azerbaijan to the east, with Russian territorial waters in the Black Sea to the north, with Bulgaria and Greece to the northwest, with the Greek islands of the Aegean sea to the west, to the south with Cypriot waters, the Mediterranean Sea and Syria, and to the southeast with Iraq.
Due to its strategic position, located between Europe and Asia as well as between three seas, Turkey has been a historical crossroads between Eastern and Western cultures and civilizations. Its territory has been home to several great civilizations such as the Persian Empire, Ancient Greece, Roman Empire, Byzantine Empire and the Ottoman Empire, among others.
The country is inhabited by 80 million people. Its capital is Ankara, although its most populated city, as well as financial, cultural and commercial center, is Istanbul. Its official language is Turkish and its official currency is the Turkish Lira (TRY).
Turkey’s economy is a complex mix of services, modern industry and agriculture. It has a growing private sector and the State plays an increasingly less involved role in industry, banking, transportation and communications. Due to its location, Turkey is a gateway and distribution hub to the European market, Middle East, Central Asia and North Africa. Its most important industries and its main export products are motor vehicles and electrical and electronic products, as well as textiles, agri-food and chemicals. The country is rich in mineral resources such as boron, coal, iron, chromium, copper or silver, most of which are still underutilized.
The tourism sector has played an important role in the Turkish economy, but by 2016 it fell by around 30% compared to 2015, due to the perception of political insecurity.
Turkey is one of the countries that offers a citizenship by investment program, where through the acquisition of real estate, entrepreneurship, bank deposit, investment of fixed capital or investment in treasury bonds, a foreigner can obtain Turkish citizenship.
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If you want to set up a company, open a bank account, immigrate and/or obtain residency permits in Turkey, you can view some of the articles and more information about the country below, or get in contact with us directly for a free private consultation.