Streamlini­ng the bureaucrac­y

Dünya Executive - - BUSINESS -

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.

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