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The investment incentive system comprises 5 Investment Models, 2 Investment Programmes and 12 Incentive Elements. General incentive practices Regardless of the region, all projects that meet certain conditions and minimum fixed investment amounts are supported within the framework of General Incentives. Support elements of general incentives; VAT exemption Custom Duty exemption + RUSF+ Additional Customs...

The new investment incentives scheme is specifically designed to encourage investments with the potential to reduce dependency on the importation of intermediate goods vital to the country’s strategic sectors. Effective as of January 1, 2012, the new investment incentives system has been comprised of four different schemes. There are several incentives depending on the region,...

Turkey welcomes foreign investors to apply for citizenship by investment program. With the recent changes in the legislation Turkish Republic started to grant citizenship to individuals who invest in Turkey without a minimum residence requirement. The citizenship opportunity has become even more attractive as the minimum investment figures have been further reduced in 2018 and...

A social audit is a formal review of a company’s endeavors, procedures, and code of conduct regarding social responsibility and the company’s impact on society. A social audit is an assessment of how well the company is achieving its goals or benchmarks for social responsibility. KEY TAKEAWAYS A social audit is a formal review of a company’s...

Globalization and increased consumer awareness is putting more responsibility on companies to ensure that the goods they sell are made in safe working conditions, at fair rates of pay and respecting the basic human rights of those involved in production. Adverse publicity, the hint that companies are not respecting these standards, can cause reputational damage...

Labour unions are legal in Turkey, and have been present since 1947. The Constitution of Turkey of 1982 affirms the right of workers to form unions “without obtaining permission” and “to possess the right to become a member of a union and to freely withdraw from membership” (Article 51). Articles 53 and 54 affirm the...

The Labor Act of 2003 establishes a 45-hour workweek, and unless otherwise agreed upon, working time will be divided equally among days worked. With a written contract, work can be divided unequally among working days, but must not exceed 11 hours in a single day. Any work beyond 45 hours in a single week is...

In the case that, when a foreign employee, coming for a temporary assignment from a country where Turkey has no social security agreement, the maximum duration for temporary assignment shall be 3 months. Within 3 months period, if foreign employee can provide a confirmation for his/her social security coverage in the origin country, will be...

Social security system of Turkey is governed by Social Insurance and Universal Health Insurance Law (Law no. 5510, Enactment 16.06.2006), bilateral and multinational social security agreements to which Turkey is party. Under Turkish legislation, in regard to social security coverage of the foreign employees, so called “The Law of the place of work principle” (Lex...