The structural options available to foreign investors vary significantly across Eurasia markets — in permitted ownership percentages, available legal forms, restricted sectors, and practical establishment requirements. Structure decisions made under time pressure at the start of a market entry engagement frequently create expensive constraints years later.
Turkey
One of the most foreign-investor-friendly structures in our coverage area. Foreign nationals and companies can own 100% of Turkish LLCs or joint stock companies in most sectors. Restricted sectors include media, aviation, certain defense activities, and maritime transport. The Turkey business setup guide covers registration in detail. Turkey’s investment incentive system provides meaningful cost benefits for qualifying investments in designated sectors and regions.
UAE / GCC
The 2021 UAE Companies Law reform enabled 100% foreign ownership in most mainland commercial activities, removing the previous 51% local ownership requirement. Free zones have always permitted 100% foreign ownership. Saudi Arabia maintains a more complex foreign investment approval process through MISA, with local partner requirements for most commercial activities.
Kazakhstan
100% foreign ownership permitted in most sectors, with restrictions in subsoil resources, media, and some financial services. The Astana International Financial Centre (AIFC) provides a common law (English law) jurisdiction within Kazakhstan — relevant for financial activities and structured investment vehicles. Investment contracts with the government are available for qualifying large investments, providing additional guarantees and incentives.
Azerbaijan
100% foreign ownership permitted in most sectors, with restrictions in oil and gas (production sharing agreements with SOCAR involvement are standard). Azerbaijan’s geographic position on the Trans-Caspian trade route makes it structurally important for Eurasia logistics operations.
Joint Venture Considerations
JV structuring requires that the legal agreement governs what happens when the relationship does not work — not just when it does. Governance, exit provisions, IP ownership, and employment terms must all be resolved in documentation before the JV begins operating. Our strategic partnerships development service covers JV structuring across our core markets.
Related reading: Services · Regions · Case Studies