Istanbul, Turkey is one of the world’s most beautiful places that is rich in its history, architecture, culture, and textiles. It is home to one of the world’s most breathtaking historic sites known as the Hagia Sophia which means “holy wisdom” it is also referred to as the Sultan Ahmet Mosque and the Blue Mosque. Many tourists throughout the world come to Istanbul, Turkey to visit the Blue Mosque to witness its grand structure and embrace what it felt like to be a part of the Byzantine Empire. This mosque was actually built as a Christian Church at first by the Byzantine emperor Justinian I in the 6th century CE (532–537). However, during the Ottoman era in 1617, Sultan Ahmet built a mosque in its place and had it renovated with beautiful domes and minarets. Ever since then this place of worship with its outstanding architectural design has been on the bucket lists of places to visit for many. Istanbul also has its very own Modest Fashion Week! This is why we decided to place our Modest Beauty brand right near the heart of Istanbul.
Inspired by the beautiful and intricate textiles and the exceptional leather quality of Turkey, Modest Beauty was born. With these resources, we were able to come up with products such as leather sandals/slippers, purses/handbags, modest silk dresses, hijabs/scarves, and jewelry! Another positive thing about doing business in Turkey is the low operating costs. Since the Modest Beauty team is originally from the United States the dollar rate when converted to Turkish liras is 7.50 liras for one U.S. dollar and 1 Turkish lira is only 13 cents in the U.S. Also, for foreign investors like us who have the Investment Incentive Certificate (IIC) “are granted to the incentives as follows: VAT and custom duty exemption, tax deduction, social security premium support, interest rate support, land allocation, VAT refund, and income tax withholding support”. (Doing Business in Turkey, 2019) Additionally, foreign investors like us can feel at home in Turkey because they offer citizenship to people who do business with them.
Page Author: Faha Ghauri
