Turkey Creates 80 Companies with Azerbaijani Capital

In the five months of this year 80 companies with Azerbaijani capital were created in Turkey. On the number of new joint-stock companies Azerbaijani investors are the second ones only to German businesses this year.

According to the Association of Chambers and Commodity Exchanges of Turkey, from the beginning of the year 29 JSC were established with Azerbaijan capital in the amount of 4 million 126.5 thousand Turkish liras.

In total for January-May 80 companies with Azerbaijani capital were founded in Turkey. The billed capital of these companies exceeds 13.2 million TL, of which 10.2 million TL was invested by Azerbaijani founders.

As a general rule, investment in companies is built up during their activities. Unlike Azerbaijan, the capital of companies in Turkey is reviewed based on the investment activity.

Currently, Turkey has about 1,700 companies with Azerbaijani capital. Capital outflows intensified in 2013. Since that time about 600 companies with Azerbaijani capital have been established there.

The state registration authority (Ministry of Taxes) does not publish information on registered companies in their countries and investments in the capital. ----08B