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The Turkish government will soon issue a decision to reduce the amount of real estate property that is nominated for Turkish citizenship to $300,000 after the $ 1 million. But before going into the details. Let’s clarify what the current law is and how it will be after this decision? The decision of ownership and get Turkish citizenship between 2017 and…
Since the subject matter of this news is tax treatment of income derived from the rental of immovable properties and rights in Turkey by limited liable taxpayers (non-residents), it is wiser to confine the scope of the article solely to the definitions made in Turkish Personal Income Tax Law with regard to tax liability and…
Turkey has changed its law to offer citizenship to foreigners who buy property worth at least $1m in the country. The decree on the changes published in Turkey’s Official Gazette on Thursday also grants citizenship to foreigners who make a fixed capital investment of at least $2m, keep at least $3m in a bank account…
Legal Background The Regulation on the Law on Applications for Turkish Citizenship (“Regulation”) has been published on Official Gazette dated 12.01.2017 and numbered 29946. According to the amendment, a foreign investor who meets certain conditions mentioned under the provisions added to the Regulation can obtain Turkish Citizenship. Besides the Regulation, Land Registry Code also stipulates…
Turkish Statistical Institute (TUIK) announced growth figures for the first quarter of 2017. Accordingly, in the first three months of this year, Turkey’s economy grew by 5.00 percent. While the industrial sector grew by 5.3 percent, the growth rate in the construction sector was 3.7 percent. The rate was 4.5 percent in the same period…
After a tumultuous 2016, the number of Turkish properties sold to international buyers increased 75% in September compared to the same time last year, a report by the Turkish Statistical Institution shows. According to the report, released last week, foreigners of various nationalities bought 2,236 homes in September and 797 were in Istanbul, Turkey’s largest…
The Regulation on the Law on Applications for Turkish Citizenship (“Regulation”) has been published on Official Gazette dated 12.01.2017 and numbered 29946. According to the amendment, a foreign investor who meets certain conditions mentioned under the provisions added to the Regulation can obtain Turkish Citizenship. Besides the Regulation, Land Registry Code also stipulates criteria for…
Turkey has changed its law to offer citizenship to foreigners who buy property worth at least $1m in the country. The decree on the changes published in Turkey’s Official Gazette on Thursday also grants citizenship to foreigners who make a fixed capital investment of at least $2m, keep at least $3m in a bank account…
The Turkish Government has abolished VAT on property purchases for foreign buyers, as the country attempts to attract more international investors. The new law means that foreigners are exempt of VAT on the purchase of either a house or office in Turkey, with the condition that they make their acquisition payment in a foreign currency and do not…
Owning a home is a keystone of wealth… both financial affluence and emotional security.