The Republic of Turkey is a transcontinental country located in the crossroads between Europe and Asia, that extends across the Anatolian and Thracian peninsula in the Balkans area. It borders to the northeast with Georgia, to the east with Armenia, Iran and Azerbaijan, to the north with the Russian territorial waters in the Black Sea, to the northwest with Bulgaria and Greece, to the west with the Greek islands of the Aegean sea, to the south with the 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 important 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 sectors. The country is rich in mineral resources such as boron, coal, iron, chromium, copper or silver, which most 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 insecurity.
Turkey is one of the countries which 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 would obtain Turkish citizenship. At Flag Theory, we help you to find strategic locations globally to build your life and business internationally and maximize your privacy, freedom and wealth. Here, you can find further information on why and how to get citizenship by investment in Turkey, residency visas, business and investment opportunities, set up a company and banking options.