About Board of Investment (BOI) Law in Istanbul, Turkey
The Board of Investment (BOI) law in Istanbul, Turkey deals with the regulation of investment activities with the aim to promote and ensure domestic and foreign representations. It assists in facilitating smooth operation of businesses, providing advice and consultation, and coordinating with agencies involved in investment promotion.
Why You May Need a Lawyer
A lawyer experienced in BOI law may be indispensable in navigating through complex investment matters. They can help you understand the legal requirements of setting up, managing, or dissolving an investment in Istanbul. Additionally, legal professionals can protect your rights, mitigate risks, and help you understand tax benefits, incentives, and exemptions associated with investment.
Local Laws Overview
Istanbul follows Turkey's national investment laws. These laws provide tax benefits and subsidies, property rights, and access to local and foreign financing. Investors are subject to corporate income tax and are obliged to abide by environmental, labor, and industrial standards. Any dispute that arises from investment operations is subject to arbitration. The Law on Foreign Direct Investment (FDI Law) governs foreign investors' activities and offers equal treatment to both local and foreign investors.
Frequently Asked Questions
What are the benefits of investing in Istanbul, Turkey?
Istanbul is strategically located, enjoying the advantage of a crossroad between two continents and having access to numerous markets. Turkey provides an attractive and protective legal environment for investors, robust public and private sector partnerships, and participation incentives.
Are there regulations specific to foreign investors?
Yes, the Foreign Direct Investment (FDI) Law governs the activities of foreign investors. This law offers equal treatment to both local and foreign investors, and segregates no such specific sector for investment.
What are the tax benefits for investors?
There are several tax benefits including but not limited to corporate tax exemptions, VAT exemption, custom duty exemptions, social security premium support, and income tax withholding support.
What rights do investors have?
Investors have the right to transfer profits, dividends, and proceeds from liquidation overseas. They are also protected by international arbitration and can claim compensation for losses due to social riots.
Can ownership of a company be transferred?
Yes, the ownership of a company in Turkey can be transferred, provided the proper legal procedures are followed. This is where legal help becomes crucial.
Additional Resources
The Republic of Turkey Prime Ministry Investment Support and Promotion Agency (ISPAT) and the Istanbul Chamber of Commerce (ITO) are crucial resources for investors. Websites like 'Invest in Istanbul' and 'Doing Business' provide in-depth information about investment in Istanbul, Turkey.
Next Steps
If you need legal assistance with Board of Investment in Istanbul, begin by seeking advice from a lawyer who specialises in BOI Law. They can provide appropriate guidance catered to your specific situation. Make sure to thoroughly understand the legal aspects before making an investment decision. Always stay updated with the laws and regulations to ensure the legality and success of your investment.
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Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation.
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