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What has changed for British investors following the recently concluded free-trade agreement between the UK and Turkey?

I'm interested in living for many years by the Turkey's Mediterranean coast while I set up and run my agribusiness there. What options would you advise me? Do investors get any benefit following the FTA?


Answers
  • ADMD Mavioglu & Alkan Law Office
    March 03, 2021

    Only processed agricultural products are included within the FTA, yet it was expected to include all agricultural products into the scope of the agreement; the services sector and investments have also not been included in the scope of the agreement. Thus, there are no significant changes due to the FTA. The FTA does provide exporters freedom from possible additional burden of taxes and sanctions. Investors get benefit in terms of the tariffs to be applied on agricultural goods, depending on the classification of the product being imported into the U.K. and Turkey. If you wish to settle in Turkey and run an agribusiness, I would advise you to benefit from citizenship-by-investment programs of Turkey, become a citizen and then take benefit from the incentives offered for agribusinesses by the Turkish government.