Being one of the most popular Citizenship by Investment Programs, Turkish Program grants the applicant and applicant’s family visa-free access to more than 115 countries including Singapore, Japan, Qatar, and South Korea. When it comes to second citizenship, most of the investors are concerned about taxes and tax system of the Citizenship Country, this is why Mann’s Solutions team decided to prepare Turkey Tax System guide.
Unlike other countries, Turkey doesn’t impose any taxes on the income you are receiving from abroad. Besides, investors are not liable to pay taxes in Turkey if they dont stay there for more than 6 months. However, you need to pay a tax on your income generated within the Turkey.
Property tax is paid in 2 installments yearly. The annual tax rate is 0.2% for apartments and houses bordering a metropolitan municipality like Istanbul.
If you own a property worth 1,500,000TL, the owner has to pay 3,000TL per year in total.
Furthermore, if you’re selling a property, you’re supposed to pay the accumulated tax of all the previous years before transferring the deed transfer. Tax on personal income is rated at up to 35% on income exceeding TL110,000.
Turkey Citizenship Investment Options
Become a permanent resident of Turkey by choosing one of the following three qualifying investment options. The requirement for maintaining the investment is a minimum of 3 years from the date the residence permit is granted.
1. Property Acquisition From $250,000
2. Capital Transfer From $500,000
3. Creation of 50 Jobs or Business Investment
LONDON BASED SOLUTIONS ADVISERS – Turkey Citizenship by Investment
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Mann’s Solutions is an international immigration law firm with offices in London, Hong Kong, and Moscow.
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