NEW SOCIAL SECURITY AGREEMENT OFFERS BUSINESS OPPORTUNITIES BETWEEN TURKEY & IRAN

WRITTEN ON 01 APRIL 2021.

 Karimi & Associates Law Firm presents according to AA News:

The Turkey-Iran Social Security Agreement inked on March 24 that would contribute to strengthening the commercial and economic relations between the two countries. 

Fatih Cayabatmaz from the Independent Industrialists and Businessmen Association noted that the agreement offers important opportunities for the business world. “Implementation of the Turkey-Iran Social Security Agreement will increase the Iranian businessmen’s interest in Turkey.

Stating that Iranians were at the top of the list of foreigners establishing a company in Turkey, Cayabatmaz added, “In February, Iranians came first on the list with 75 companies.” In addition to reinforcing relations, it will warm “the two nations towards each other,” he said.

With the new agreement, an Iranian businessman who founded a company in Turkey has to submit documents indicating that he paid insurance in his home country for the Iranian staff he employs, while not having to pay insurance in Turkey.

“The time the Iranian workers spend working in Turkey will be valid in Iran. This will reduce costs and increase the possibility of Iranian businessmen investment in Turkey. The same applies for Turkish businessmen operating in Iran and their personnel,” he said.

He further noted that health insurance for an employer would be valid in the other country, allowing workers to access health services free of charge.