Turkmenistan
The world's fourth-largest gas reserves, a closed and state-run market
Turkmenistan is the region's most closed economy. Practically all imports pass through state structures and public tenders; private distribution in the European sense barely exists. The exchange regime is strict and conversion restricted, which is the supplier's largest practical risk. The country is also an important node on the Middle Corridor through the Caspian port of Turkmenbashi.
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Setting up a company
Setting up a company and tax are the part of the profile you cannot assemble elsewhere in an afternoon. The rest of the page is open.
- ·Legal forms
- ·What to watch for
Taxes
Setting up a company and tax are the part of the profile you cannot assemble elsewhere in an afternoon. The rest of the page is open.
- ·Corporate income tax
- ·VAT
- ·Tax reliefs
What it makes and needs
Natural gas, oil products, textiles and cotton.
Machinery and equipment, vehicles, chemicals, food.
Gas and chemical technology, textile lines, agriculture and irrigation, port and transport infrastructure.
Money and payments
The rate is pegged and conversion restricted. Getting funds out is usually the hardest part of the deal; payment terms and the contract currency are therefore agreed in writing before signing.
Importing into their market
Outside the EAEU, a national customs regime; imports almost always run through a state structure or a tender.
Practical matters
Turkmen is the state language; Russian is used in business. Contracts are usually bilingual.
The Caspian port of Turkmenbashi is a Middle Corridor node; overland routes run through Iran or Kazakhstan.
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