The first thing foreign investors who want to invest in companies in Turkey look at is Turkey’s ranking in the Corruption Perception Index, which is announced every year by Transparency International. Unfortunately, recently Turkey has experienced a record decline compared to previous years and in the index announced in 2021, its score was determined as 38 out of 100. For this reason, especially US and European companies wanting to invest in profitable emerging markets such as Turkey pay special attention to anti-corruption culture and necessary policy procedures of companies, they are thinking of investing in.

Turkey’s International Corruption Perception Index in the last 4 years.

Year                    Ranking              Mark (out of 100)
2018                   78                       41
2019                   91                       39
2020                   86                       40
2021                   96                       38

The main points to focus on in this regard are as follows:

• Creation of a Company Code of Conduct
• Establishment of an effective notification/notification system
• Establishment of an anti-bribery and anti-corruption procedure
• Establishment of procedures related to risky expenditures such as cash expenditures, consultancy expenditures, donations and aids, representation, and entertainment
• Establishment of an effective internal control system
• Accurate definition of approval and transaction authorizations
• Investigation of risky accounts

NAZALI provides consultancy in company evaluation when foreign investors intend to invest in Turkey and supports companies in bringing them to a level where foreign investors will want to invest.