Free zones in Turkey are strategic areas that provide a flexible business environment and tax benefits for companies. In this article, we review how to benefit from free zones in Turkey, including their advantages and the steps needed to benefit from them.
Advantages of free zones in Turkey
Tax exemptions:
Customs exemption: Companies operating in free zones benefit from a complete exemption from customs duties on goods imported into these zones.
Tax exemption: Free zones also provide tax exemptions including corporate tax and value-added tax, which reduces operating costs.
Regulatory flexibility:
Simplified procedures: Free zones simplify administrative and commercial procedures, helping companies deal with bureaucracy more efficiently.
Infrastructure: Free zones provide advanced infrastructure including ports and logistics facilities, which contributes to improving shipping and distribution operations.
Steps to benefit from free zones
Determine the appropriate area:
Select the location: Choosing the appropriate free zone depends on the type of business activity and logistical requirements. Turkey contains a group of free zones designated for different industries.
Research: Conduct a thorough research on the available free zones and their benefits to determine which one is best for your business needs.
Application:
Required Documents: This includes submitting a comprehensive application that includes details of the business activity, company information, and business plans. Make sure to submit all required documents accurately.
Review: After submitting the application, the competent authorities will review the application and issue the necessary license to start operations in the free zone.
Best Practices
Compliance with Regulations:
Follow the laws: Ensure compliance with all the laws and regulations of the free zones to ensure smooth operation and avoid legal problems.
Reporting: Providing periodic reports on activities and revenues can help maintain transparency and compliance with the laws.
Partnership with Local Authorities:
Cooperation: Collaboration with local authorities in the free zone can help facilitate procedures and maximize the benefits offered.
Conclusion
Free zones in Turkey are a unique opportunity for companies to gain tax and regulatory benefits, which contribute to improving operational efficiency and reducing costs. By understanding the benefits of these zones and following the appropriate steps, companies can achieve success in a flexible and favorable business environment.
