Wealthy Syrians founding businesses in Istanbul 2012-08-30

Economy: wealthy Syrians founding businesses in Istanbul

As tens of thousands of Syrians flee the unrest in their country for Turkey the investors among them are looking to put money into in Istanbul, Anatolia news agency reports quoting data from the Istanbul Chamber of Commerce (ITO). Companies founded with Syrian capital in Istanbul have increased from 28 to 89 in the first seven months of the year. A 218% increase from the same period a year previously, according to ITO data. Consultancy firms top the inventory of new Syrian companies in Istanbul with 14 enterprises as tourism and accommodation, plastics, transportation. Textiles and food companies follow.

The total capital of these 89 companies registered by ITO exceeded 6.2 million Turkish Liras (TL, around 2.7 million euros). This figure stood at a little higher that 1.8 million TL (796,000 euros) for the 28 companies registered in the first seven months of 2011. Syrian refugees with passports can rent houses or remain with relatives in Turkey, rather than find accommodations at camps where those without passports are hosted. Syrian businessman, Gazi Misirli, told Anatolia news agency that Syrians with money prefer not to remain at camps.

''Usually the ones with a poor financial position and with no passports go to the camps. Passport holders may remain anywhere in Turkey. They are in Istanbul, Bursa, Mersin, Hatay, Gaziantep, Iskenderun and Mersin. They go to amount provinces in the south.

They hold a four-month residence permit,'' he said. Another option a lot of have looked into is staying in the country as tourists. There are a lot of businessmen from both Aleppo and Damascus in Istanbul as Turkey offers them and their families a safe place to remain , he said.