As per World Bank's Ease of Doing Business Report in 2020 (Link 1), Turkey positions 33rd out of 190 economies. Contrasted with earlier years, there are huge upgrades generally. With its populace which is among the most youthful in Europe, key international area and a developing working class, Turkey is a powerful market for some abroad organizations.

All things considered, as in each country, there are sure difficulties abroad finance managers face while carrying on with work in Turkey. Turkey offers a promising, yet in addition confounded and testing market. It expects that worldwide firms pursuing business sector open doors in Turkey are versatile and tenacious.

• Complex Bureaucracy & Regulatory Issues

There are various authority rules and cycles which make it challenging for unfamiliar organizations to adjust into a Turkish approach to carrying on with work. In specific cases, regulations and guidelines change out of nowhere, some of the time more than an evening. It is for sure quite difficult for organizations to follow and immediately adjust into the unusual administrative climate. Subsequently, abroad organizations might have to team up with neighborhood accomplices, counseling organizations or law offices so that defeat the obstructions related with administration.

• Communication Problems & Cultural Differences

English language is not broadly spoken in all areas in Turkey, but you can find English speaker in significant areas like Istanbul, Izmir and Ankara. In particular, the Millennials and Generation Z that are situated in the significant urban communities communicate in English easily, but the quantity of English speakers in towns and less-created regions is low. In specific cases, this might bring about correspondence issues while carrying on with work in Turkey. In these conditions composed organization might demonstrate more successful correspondence than talking.

Turkish individuals esteem individual associations with worldwide accomplices. Benevolence and cordiality are key components of the Turkish culture. Thusly, building a relationship initially is critical to prevail in the Turkish market. Business conversations and arrangements over lunch or supper are ordinary and typical practices inside the Turkish business culture.

• Currency Risk & Payment Risks

Nowadays, exchange rates varied fundamentally in the Turkish market which presented issues for organizations sending out to and bringing in from Turkey. Because of this variety, installment issues are probably going to happen while working with nearby organizations. It is prescribed to talk about these issues ahead of time and settle on a specific swapping scale level with the nearby accomplice. Likewise, it is encouraged to incorporate FX rates and installment terms in the agreement, preceding beginning a business in the Turkish market.

• Strong Local Competition & Localization Requirements

Turkey is a lively market with continually evolving elements. At the point when an unfamiliar organization intends to enter the Turkish market, it should remember that there are nearby contenders who have proactively been working in the area for a long time. Mostly because of moderately low expenses, neighborhood players are probably going to offer items at lower costs contrasted with unfamiliar brands. Moreover, additional import charges increment the cost of the products, which in outcome, drives customers to incline toward nearby brands, except if the global proposition is of more excellent. Solid nearby contest additionally requires unfamiliar organizations to limit their deal so that better location the interest on the lookout.

• Regional Differences

Generally, there are contrasts between the east and west regions of Turkey. As far as monetary turn of events, speculation amazing open doors and gifted workers, the western locales of Turkey offer better open doors. Additionally, there is a different culture changing from one area to another and even city to city inside a similar district. Along these lines, it is prompted that abroad organizations assess the provincial distinctions preceding the venture or wholesaler arrangement choice.

Link 1, Business Enabling Environment (worldbank.org)

New companies, business, international combines, and startups have started to turn out to be exceptionally famous in Istanbul and numerous collaborating spaces have opened for similar individuals to meet up and work. Aside from offering workplaces for lease, collaborating spaces hold occasions and studios to advance inventiveness and new undertakings. We picked the best spaces where you can work and meet new individuals.

Many individuals, peoples, can companies get some information about the future of cooperating area after the new COVID-19 pandemic truly influencing the overall economy. At that point, collaborating space suppliers are confronting a monstrous drop in the quantity of individuals utilizing their work areas wherever on the planet.

As per Murphy, a portion of the cooperating spaces chose to execute an improved cleaning and sanitizing approaches to really focus on much of the time contacted surfaces and henceforth decreasing the gamble of the Covid for the individuals.

Kelly Konya from the Coworker.com - a site that intends to associating individuals with cooperating spaces all over the planet - guides us to a basic inquiry of "whether shared workplaces offer a reasonable answer for the overall flood in telecommuters emerges?" According to Konya, clearly numerous telecommuters don't approach the conveniences they need to beneficially telecommute that makes collaborating spaces engaging for them during the COVID-19 emergency. Notwithstanding, the cooperating spaces should offer high cleanliness practices and subsequently they can turn into an option for organizations needing a substitute work area that might demonstrate valuable.

All of this can imply that Covid repercussions will prompt a transformation in collaborating industry. With new monetary circumstances there would be a more appeal for cooperating spaces - exceptionally by SME's - as a result of the minimal expense they offer. Then again, because of social removing issues, individuals might like to join a work-from-home development. On the two cases, a new organized cooperating administrations can turn into the most ideal decision for them.

Situated in Istanbul, We Are Istanbul Coworking and Business Services is one of the organizations that keenly estimate the new requirements of its clients, and it completely moved into a foundation of advanced administrations including on the web organization enrollment, proficient business improvement consultancy, cloud administrations, charge, bookkeeping, deals and showcasing, normal asset use, monetary administration, award consultancy, instructive projects and beyond what 150 different administrations that any money managers could require in Turkey. They offer their individuals to "simply center around their center business" and pass on the rest to We Are Istanbul, that outcomes to draw in an ever-increasing number of individuals for them during a brief timeframe.

With everything taken into account, adjusting "We Are Istanbul" as an effective model, the cooperating business definitely needs to digitalize their administrations, and to re-consider the clients need in the post Covid time. Offering advanced administrations ought to be went with remaining in a nearby touch with the clients. They could utilize collaborating region whenever they feel like it, however they can get all the business administrations on the web. This will be an answer for truly decline client expenses and increment their adaptability and productivity.

Accounting System and Bookkeeping in Turkey

Turkey applies a unified accounting system under the Tax Procedure Law No. 213. This system is mandatory for natural and legal persons who keep accounts based on balances. These companies and entities must adhere to the methods and principles set out in these communiqués. 

Companies implementing a unified accounting system are obliged to prepare annual financial statements such as balance sheet, income statement, cost of sales statement, fund statement, cash statement, profit distribution statement and statement of changes in equity.

However, banks and insurance companies, private financial institutions, financial leasing companies (also in the area of factoring), securities funds, brokerage firms and capital investment firms use different accounting techniques according to their different areas of activity, although they retain their own is recorded on a balanced basis. 

Companies with this special status will keep their books in accordance with the Turkish Financial Reporting Standards/Turkish Financial Reporting Standards (TMS/TFRS) Unified Chart of Accounts, the Turkish Tax Code and the Turkish Commercial Code. However, the persons subject to audit and those mentioned above must prepare their individual and consolidated financial statements in accordance with TMS/TFRS.

With one of the fastest growing economies in the world, Turkey is one of the best places to grow your business. With a thriving economy, geopolitical location, promising growth opportunities, hardworking business community and young population, the country attracts foreign investors from all over the world.

There are many advantages for foreign investors planning to set up a company in Turkey. Turkey is an exciting market due to its strategic position as a trading hub in Europe and the Middle East. Furthermore, with the continued support of the Turkish government, the country offers unique opportunities for foreign investors with high investment potential in the future.

One of the benefits of starting a business in Turkey is the low cost of ownership. About 1 million students in Turkey graduate from university each year, many of whom then go on to find work rather than start a business. Because of this, starting salaries and labor costs are relatively low. While the quality of goods and services remains high, the cost to suppliers is also relatively low. This is a great advantage because you no longer have to worry about the startup costs of your business.

Another benefit of Turkey’s young population is the volume of their spendings. Young people love to follow trends that they have their favorite brands, and they like to spend money without thinking twice. With the right business plan and marketing strategy, you can establish a successful business in Turkey according to the needs of the young population. By following the latest trends and practicing them in your business, you can easily attract young consumers in Turkey.

In business, it is logical to locate manufacturers close to where you are. There are many local manufacturers in Turkey ready to help and support investors. If you have an idea and want a local manufacturer to implement, they will be happy to help you. Local manufacturers are also more willing to accept minimum orders than larger suppliers. This is a great advantage for investors setting up companies in Turkey.

The Turkish government encourages local and foreign investors by reducing investment-related costs and creating a more investor-friendly environment. With the new investment incentive system, they reduced investor spending. Foreign investors who have obtained an Investment Incentive Certificate (IIC) can enjoy the following benefits: VAT and exemption, tax relief, social insurance premium support, interest support, land allocation, VAT refund and income tax withholding support.

Step 1: Pre-registration Tasks

For the establishment of the company, if the person is desired to be the founding partner or manager of the company as an individual, the passport’s Turkish translation and personal Tax number (can be obtained by passport’s Turkish translation and showing a resident address in Turkey) should being sent to mersis@ito.org.tr. By doing this, the person is getting known in the system of the Ministry of Commerce in Turkey. If the person has a residence permit or temporary ID in Turkey, then there is no need to make an identification to the system, but the address information in Turkey and the residence permit ID should being register in the national address database (the residence permit should be valid and not expired).

If the founding partner of the company is going to be another company (and not an individual), then the notary translation of the company's founding agreement and activity certificate as well as the apostilled tax number should be sent to mersis@ito.org.tr  in order to be defined in the system. Moreover, If the founder of the company will be another company, the apostilled and notarized translation of the decision of the board of directors regarding the address, title and capital of the company that is going to be established in Turkey must be submitted to the chamber of commerce. If the company abroad is going to give a power of attorney for the establishment, the establishment process and the person to whom the power of attorney will be given should also take a decision of the board of directors.

After the definition is made in the system, the company establishment process starts, and an appointment is made from the Turkish chamber of commerce for the company establishment.

We Are Istanbul does all of this tasks for you, even when you are not in Turkey. All you need to do is to send your passport copy by email to our team, determine the suitable time for you (the stakeholders should be in Turkey for the date of appointment from the chamber of commerce), and leave the rest to us.

Step 2: Registration

In limited companies, the minimum company's founding capital is 10,000 TL. In joint stock companies, the minimum company's founding capital is 50,000 TL. In a joint stock company, ¼ of the company's founding capital must be deposited in advance into a temporary bank account to be opened in the name of the company. Companies with a capital of over 250,000 TL in Joint Stock Companies are obliged to receive consultancy services from an official lawyer in Turkey.

Establishment of a company in Turkey may take 1-3 working days. After our initial consultation, We Are Istanbul team will tell you the exact time it will take to finalize all the procedures necessary for your specific business and thus the minimum time needed for stakeholders to be in Turkey for the establishment process. However, it is possible to register a company in Turkey with or without all stakeholder’s presence (their official power of attorney will be enough). But consider that it is not possible to open a bank account remotely.

The signatures of the persons authorized to represent the company under the title of the company shall be approved by the competent authority and signature declarations shall be prepared. This process is carried out in any trade registry offices in Turkey.

During the company registration date, the stakeholder(s) aligned with the company’s assigned official financial advisor will be present in the Notary office to give attorney to the advisor for the registration process. 

Step 3: Confirmation of Registration

Upon the application of the founders or the financial advisor of the company to the registry office with the relevant documents, the trade registry office completes the registration process. 

Step 4: Post-registration Tasks

2 hours after the company establishment process is completed and the establishment is approved, the company officials can issue the passport originals, passport translations and potential tax numbers, along with the signature circular and power of attorney, with the Trade Registry Newspaper. After the circular of signature and power of attorney is issued, an application is made to the tax office for the company's notification and the company's tax office passwords. All these tasks can be followed by your assigned official financial advisor.

Documents Required for Registration of Limited Company

• Company agreement with approved signatures of founders

• Written statements of non-partner member of board of directors that they accept this duty 

• In the case of a legal person in the board of directors, the name and surname of a real person determined by the legal person on behalf of the legal person and the notarized copy of the decision of the competent body for determination

• If any, valuation reports prepared by the court appointed expert for the determination of the committed capital other than cash, the assets to be taken over during the establishment and non-cash assets

• If capital other than cash has been committed, letter to be taken from the relevant registry stating that there is no restriction on the capital in kind

• If capital other than cash is committed, document showing that the immovable, intellectual property rights and other values put as capital in kind are annotated to the registries in which they are registered

• If any, contracts with the company being established and with its founders and other persons about the establishment, including those related to the takeover of non-cash assets and corporation

• Signature declarations of company directors

• Document of payment indicating that the Competition Authority’s share has been paid

Documents Required for Registration of Joint Stock Company

• The Articles of Association of which the signatures of the founders have been certified

• Document showing that at least twenty-five percent of the capital committed in cash is deposited in the bank

• Proof of payment indicating that the Competition Authority’s share has been paid

• If any, valuation reports prepared by the court appointed expert for the determination of the committed capital other than cash, the assets to be taken over during the establishment and non-cash assets

• If capital other than cash is committed, letter to be taken from the relevant registry stating that there is no restriction on the capital in kind

• If capital other than cash is committed, document showing that the immovable, intellectual property rights and other values put as capital in kind are annotated to the registries in which they are registered

• If any, contracts with the company being established and with its founders and other persons about the establishment, including those related to the takeover of non-cash assets and corporation

• For companies whose establishment is subject to the approval or appropriate opinion of the Ministry or other official institutions, the letter of this permission or appropriate opinion

• If any, written statements of non-shareholder board members, that they accept this duty

• In the case of a legal person in the board of directors, the name and surname of a real person determined by the legal person on behalf of the legal person and the notarized copy of the decision of the competent body for this determination

• Signature declarations of persons authorized to represent and bind the company

Introduction

As We Are Istanbul, we provide comprehensive legal and consulting services for business registration in Turkey. Registration of a company in Turkey is one of the first steps to establish a business in this country. We Are Istanbul is pleased to provide its members with services on company formation in Turkey. Regardless of the scope of your business, We Are Istanbul will offer you the most appropriate solution. From the very beginning we will provide you with all necessary information about taxation, corporate rights, and duties, required permits, licenses, etc. This guide will give you general, trustable, and important information on registering a company in Turkey.

Overview

The process of establishing a company in Turkey is clear and one of the shortest in Europe. The investor can set up his new business in about a week if all documents are complete. The establishment of a company in Turkey by foreign real and legal persons is subject to the same rules as domestic investors. The trade registry is kept by 238 trade registry directorates operating within the chambers of commerce under the supervision and control of the Ministry of Commerce.

Company Types in Turkey

The following types of companies can be incorporated in Turkey:

• Sole proprietorships (Şahıs Şirket),

• The limited liability company (Limited şirket) is the most popular business form among foreign entrepreneurs in Turkey,

• The joint stock company (Anonim şirket) which is best suited for foreign investors seeking to develop large projects,

• The commandite or the collective company (Komandit Şirket) is the equivalent of the general or limited partnership in other countries (The collective company is established with at least two partners and each partner has the right and duty to manage the company separately),

• The cooperative company (Kooperatif) that is widely spread among investors operating in agriculture in Turkey (A cooperative company is not a private company or a capital company, but a commerce company),

• Branches and subsidiaries

Joint stock company, limited company and limited partnership divided into shares are the capital companies. In capital companies, the partners are only liable to the company with the capital they have committed. Ordinary limited partnership and collective companies are private companies. In private companies, the principle of the second and unlimited liability of the partners for the debts of the company is valid.

The establishment, basic characteristics and operation of these companies are regulated in the Turkish Commercial Code No. 6102. About the cooperatives, Cooperatives Law No. 1163 is applied primarily. Joint stock companies and limited companies are the most common type of companies in Turkey. Approximately 82% of all companies are limited companies, while 13% are joint stock companies and 4% are cooperatives. The total of collective and limited partnership companies is around 1%. The most three types of companies that are widely usen among foreign stakeholders are the sole proprietorships, limited liability, and joint stock companies. 

The sole proprietorships are widely using among sole stakeholders who generally work from home and only want to make their business official and to issue invoice and pay taxes. Sole proprietorships are individual companies that are smaller than joint stock companies and limited liability companies. They are much easier to open and close, however, foreigners can only establish a sole proprietorship if they have a valid resident permit in this country. 

A limited company is a company whose capital is definite and divided into shares and is responsible for its debts only with its property holdings. The shareholders are not liable for the debts of the company, they are obliged to pay only the capital shares they have committed and to fulfill the additional payment and performance obligations stipulated in the company contract. Shareholders are responsible for capital debts due to uncollectible public debts in the rate of their capital shares. Limited liability company is best suited for small and medium-sized companies. The incorporation procedure is straightforward, and its characteristics make it a favorite among foreign investors. A limited company with a single shareholder can be established. The number of shareholders may not exceed fifty. Partners of a limited company may be real or legal persons. At least one shareholder is required for this business form and the capital can started from 10,000 TL and the government gives 24 months period to deposit it in company bank account. Among the advantages of limited liability companies in Turkey is that they can be used for various activities. Among these, they can be set up as holding companies and thus make a great tax optimization solution.  Authorized (or so-called share) capital of LLC is divided into shares (parts or stakes), the amount of which is determined by the charter. LLC is responsible in front of the creditors only with the assets. In case of bankruptcy, LLC shareholders are not obligated to pay the company’s debt. Limited liabilities are most suitable for companies with one stakeholder or family companies. Finally, the maximum number of shareholders is 50. 

A joint stock company is a company whose capital is definite and divided into shares and which is responsible for its debts only with its property holdings. Shareholders in a joint stock company are only liable to the company with the capital shares they have committed. Joint stock companies may be established for any economic purpose and subject that is not prohibited by law. The joint stock company is generally used by those who want to start large businesses. At least one shareholder is needed to incorporate this company type and the requirements for the minimum share capital is at 50,000 TRY that 25% should be deposited in shareholders bank account in advance. The remaining amount shall be paid within 24 months following the registration of the company. The payment schedule may be set out in the articles of association of the company or may also be determined by the board of directors. The management of the company is also foreseen by a board of directors, together with a supervisory board. Joint stock companies are the only type of company whose shares are offered to public and whose shares are traded on the stock exchange. In addition. The joint stock company is the best match for those considering any investment round for their company. Lastly, the maximum number of shareholders is unlimited.

The Turkish entrepreneurial ecosystem has grown dramatically in recent years, with an increase in the number of businesses and investors. Turkey has a young, tech-savvy population that welcomes newideas and developments, making it a great location for entrepreneurs. This has resulted in a thriving startup ecosystem, with numerous accelerators, incubators, and co-working spaces available to help new businesses get started.

One of the key factors driving the growth of the Turkish entrepreneurship ecosystem is the support provided by the government. The Turkish government has launched a number of initiatives to support startups and small businesses, including providing tax incentives, grants, and loans. This has made it easier for entrepreneurs to access funding and resources, and has helped to create a more supportive environment for new ventures.

The presence of a strong network of mentors, advisors, and investors is another essential component of theTurkish entrepreneurship ecosystem. These individuals may offer fledgling entrepreneurs advice and support as they negotiate the obstacles of beginning and scaling a new firm. Several of these mentors and investors are successful entrepreneurs themselves,providing them a unique perspective on the obstacles and possibilities that new ventures face.

Aside from government assistance and a network of mentors and investors, the Turkish entrepreneurial ecosystem benefits from a number of prominent universities and research organizations. These colleges produce a regular supply of highly competent graduates who want to work in startups and entrepreneurship. This has contributed to the development of a culture of innovation and entrepreneurship in Turkey, making it an appealing location for entrepreneurs from all over the world.

Finally, it's worth noting that the Turkish entrepreneurship ecosystem is still relatively young and evolving, and there are a number of challenges that still need to be addressed. These include improving access to capital for startups, addressing the skills gap in certain industries, and increasing the visibility of the Turkish startup scene on a global level. However, despite these challenges, the future looks bright for Turkish entrepreneurship, with a growing number of successful startups and a supportive environment that is helping to drive innovation and growth.

Establishing a business in Istanbul can be a thrilling and rewarding experience for entrepreneurs, but it's critical to recognize the time and work required. The time it takes to start a business in Istanbul depends on a number of factors, including the type of business, industry, and legal requirements. But, most firms will need to perform a few general stages, which might give you an indication of the timing.

The first step in starting a business inIstanbul is deciding what kind of business to start and what legal structure to utilize. This includes deciding whether to form a sole proprietorship, partnership, or corporation. After deciding on a legal structure, you must register your company with the Istanbul Chamber of Business and Industry, which might take up to two weeks.

After registering your company, you must obtain any essential licenses and permissions. This will vary based on the industry and type of business you are launching, but it may involve a trade license, environmental permissions, or health and safety permits. Depending on the complexity of the procedures, obtaining these permits can take several weeks or even months.

Opening a bank account and obtaining any necessary financing is another critical step in beginning a business in Istanbul. Obtaining a loan or seeking investors to help support your firm is one example. This process can take many weeks or months to complete, depending on the size and complexity of your organization.

Youcan begin to focus on starting your business once you have completed all of the necessary legal and financial processes. Hiring personnel, locating a site, and marketing your business to potential clients are all examples of this. Depending on the size ofyour company, this procedure could take months or even years to complete.

To summarize, starting a business in Istanbul may be a lucrative but difficult process that demands careful planning and attention to detail. While the timing for beginning a business can vary depending on a number of circumstances, it is critical to be prepared for the time and work required to create a successful firm. You can set yourself up for success and achieve your entrepreneurial ambitions in Istanbul by taking the essentialmeasures and obtaining advice from professionals.

Doing business in Istanbul can be both easy and challenging for foreign entrepreneurs. On one hand, Istanbul has a dynamic and diverse economy, a strategic location at the crossroads of Europe and Asia, and a large pool of skilled labor. Additionally, the Turkish government has implemented a number of reforms in recent years to make it easier to start and operate a business in the country.

On the other hand, there are still some challenges that foreign entrepreneurs may face. For example, navigating the legal and bureaucratic processes can be complex, and there may be cultural and language barriers to overcome. Additionally, Turkey has its own unique business culture and practices that may differ from what foreign entrepreneurs are accustomed to.

To maximize their chances of success in Istanbul, foreign entrepreneurs should do their research and seek advice from local experts. It's also important to have a solid understanding of the Turkish market and consumer preferences, as well as the regulatory landscape and business environment. With the right approach and resources, it is possible to do business successfully in Istanbul as a foreign entrepreneur.

Advantages of doing business in Istanbul:

• Istanbul is a vibrant and cosmopolitan city with a rich cultural heritage and modern infrastructure.
• Turkey has a relatively low cost of living and doing business compared to other developed countries.
• Istanbul has a large pool of skilled labor, with many universities and technicalschools producing highly qualified graduates.
• The Turkish government has implemented several initiatives to attract foreign investment and support entrepreneurship, including tax incentives and streamlined business registration processes.
• Istanbul's location at the crossroads of Europe and Asia provides easy access to global markets.

Challenges of doing business in Istanbul:

• The legal and bureaucratic processes in Turkey can be complex and time-consuming, especially for foreign entrepreneurs who are unfamiliar with the system.
• The Turkish business culture and practices may differ significantly from what foreign entrepreneurs are used to, so it's important to invest time in building relationships and understanding local customs.
• There may be language and cultural barriers that need to be overcome, particularly for non-Turkish speakers.
• Istanbul is a competitive market, with many established players in various industries.

To succeed in doing business in Istanbul, foreign entrepreneurs should consider the following:

• Conduct thorough market research to understand the needs and preferences of Turkish consumers.
• Build strong relationships with local partners, suppliers, and customers.
• Seek advice from local experts and professionals, such as lawyers, accountants, and business consultants.
• Learn the basics of Turkish business culture and etiquette, including appropriate dress, language, and communication styles.
• Stay up-to-date with changes in the legal and regulatory landscape in Turkey, as these can affect businessoperations.
• Be patient and persistent, as building a successful business in Istanbul may take time and effort.

Export and import laws are a critical component of the Turkish regulatory framework. These regulations govern the movement of products and services into and out of the country and are intended to encourage economic progress while protecting Turkish enterprises and consumers' interests. The Ministry of Commerce is in charge of export and import restrictions in Turkey. The Ministry is in charge of formulating policies and regulations that promote trade and investment, as well as implementing these policies and regulations to ensure that enterprises follow the law.

The requirement for firms to get an import or export license is one of the most important legislation governing export and import in Turkey. The Ministry of Trade issues these licenses, which are intended to guarantee that enterprises follow necessary legislation and standards. Businesses must give proof of registration as well as information about the goods or services they intend to import or export in order to receive a license.

Another important regulation surrounding export and import in Turkey is the requirement for businesses to comply with customs regulations. Businesses must provide customs officials with accurate information about the goods or services that they are importing or exporting, and they must pay any relevant tariffs or taxes on these goods.

Furthermore, Turkey has negotiated a number of free trade agreements with other nations, which may have an impact on export and import laws. Tariffs and other trade obstacles may be reduced as a result of these agreements, making it easier for Turkish enterprises to sell their goods and services in other markets.

Overall, the regulations surrounding export and import in Turkey are designed to promote economic growth and protect the interests of Turkish businesses and consumers. By complying with these regulations, businesses can ensure that they are able to take advantage of opportunities in foreign markets, while also contributing to the overall growth and prosperity of the Turkish economy.