Wealthy Syrians Investing in Turkey

The fact that Turkey is an area of stability within its region is directing the businessmen of countries such as Iraq, Libya and Syria, which are struggling against civil wars, to Turkey. Hundreds of businessmen, who originally went to Saudi Arabia and the Gulf states, could not find what they were seeking there due to the strict ownership and residency laws in those countries. They are now choosing to settle in Istanbul as a last resort.

Animosity against Islam in EU and USA brought capital to Istanbul

Companies, which are providing consultancy services in every area from the purchase of real estate by foreign businessmen in Turkey to the formation of companies by them, are stating that the capital has come to Istanbul, especially following the animosity to Islam, which has begun in the EU, and the September 11 legislation, which was brought out in the USA against the Arabs. ICS Global, which was established 1.5 years ago, has also assisted with the formation of more than 100 Iraqi, Syrian, Lebanese and Jordanian companies, in 1 year.

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Syrian businesman buys 17 properties in Turkey

Dr. Mehmet Ali Çetinkale, a Founding Partner at ICS Global, emphasized that businessmen running away from civil wars had begun to come to Turkey, in particular after the Turkish public showed just how much they were looking out for democracy, on 15 July. Çetinkale, who stated that one businessman from Syria had purchased 17 properties in Turkey after setting up a company here, said, “Millions of dollars of investments have come into Turkey thanks to the companies we have helped to set up. The Egyptian Istanbul Trading Gate has set up a company for the import and export of elevators and elevator equipment. The Jordanian Lions Textile has come into the market with 400 thousand TL capital. The Iraqi South Trading Bride trades in technological equipment for engineering, oil products and oil refineries. Tri Towers, with Syrian capital, on the other hand, has come as an investor in land and property.”

Banks do not allow Syrian businessmen to open accounts

Çetinkale also stated that many more companies had been unable to come due to bureaucratic obstacles, and said, “The banks are also not keen to open accounts for Syrians. If these are resolved, many companies in the region are eager to settle in Turkey.” Çetinkale added that the same problems were being experienced with the banks. He stated that the banks were not allowing Syrian businessmen to open accounts, and said, “This is preventing the inflow of foreign currency into the country.”

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