Turkey is still underestimated in the corporate world. Many see it as an emerging country with little to offer for smaller companies. Yet, more and more businesses are deciding to either outsource some of their processes or to open branches and entire entities there, even going as far as to handle payrolls in Turkey. And with good reason! Recruitment in Turkey is no longer as complex as it once was, as umbrella groups are flourishing.
The 36,000 foreign companies now present on its territory show just attractive this destination is to investors. Acting as a bridge between Europe and Asia, Turkey provides a convenient foothold as many German, British and Dutch businesses are already taking advantage of what it has to offer.
A Highly Occidentalised Country
Some business owners still see Turkey as an oriental country where life is widely different from the western world. It is, in fact, just another European country, with added tax-related benefits. General consumption habits there are based on the European model, with an ever more defined middle class. With the exception of farmed products, the circulation of goods between Turkey and the rest of the EU is not subject to customs.
The Turkish employment model is quite specific, but umbrella companies allow foreign entities to operate without the need to create a legal structure, making it highly adaptable to the expectations of western businesses. Payroll in Turkey is greatly facilitated by such organisations, which can also handle bookkeeping and all manners of administrative tasks.
A Re-Exportation Hub
Once reserved for very large companies looking to cut costs, the Turkish workforce is no longer praised for being cheap, but rather for its true industrial know-how. Recruitment specialists now allow businesses to grow their European presence thanks to the expertise of a highly skilled personnel on their payroll in Turkey.
Going well beyond textile and automobile manufacturing, the country is now offering an excellent return on investment is such sectors as aeronautics or defence. Energy, luxury goods and capital goods are also soaring. Thanks to the free-trade agreements Turkey signed with various Turkish-speaking territories and to the bonds the country has with other Middle Eastern nations, its economy makes it an exceptional geostrategic stronghold.
A Golden Opportunity for Partnerships
On-site recruitment – as opposed to bringing in foreign employees to put on a payroll in Turkey – goes hand in hand with creating a business where workers feel valued. Similarly, building new partnerships within the country is also highly beneficial. Enlisting the help of an umbrella company specializing in partner detection aids new businesses in securing alliances. Thanks to these connections, they can position themselves competitively and stand out in a busy market.
Joint ventures are an excellent option for many, but they derive from a deep knowledge of the various elements at stake. Relying on the right specialists is therefore paramount.
Put an emphasis on quality, long-term relations and meet with your associates in person as often as possible to build trust. This will work to both your and your Turkish partners’ benefit.
Between the investment support Turkey receives from its government, its status as an international crossroads, its young, highly skilled and cost-effective workforce and its economic strength, the country offers a wealth of opportunities. By opting to have a specialized company handle the establishment of your business and your recruitment in Turkey, you can take advantage of all this even if you have never set foot there.