Streamlining the bureaucracy
Investors interested in Turkey often say that the most significant challenge is bureaucracy. Despite being mentioned frequently by politicians, there is still no solution for administrative hurdles, and the issue has been cited as a reason for the cancelation of billions of dollars in investment plans. Now, ISTKA will introduce a new direct service for foreign investors through its Investment Support Office. Investors applying to the Investment Support Office will complete all procedural work without needing to go to the usual seven different institutions required for registering and starting a business in Istanbul. Those include the Istanbul Municipality, the Chamber of Trade, the Chamber of Industry, the immigration directorate, the Labor and Employment Agency, the Istanbul tax authority and the social security office. Now, investors will be able to apply, follow up and check the results of their application at one institution.