Citizenship by investment
Investment creating jobsYou may become a Turkish citizen if you have a business in Turkey and you have created at least 100 full-time jobs for Turkish citizens. There is no minimum investment amount required.
- Confirmation by the Ministry of Labor and Social Security that you are employing at least 100 Turkish citizens.
No nationality is officially restricted
Dual citizenship is recognized in Turkey. You are not required to renounce your previous nationality to become a citizen of Turkey.
- Original and photocopy of passport
- Four passport-size photos
- Medical Certificate
- Original Police Clearance Certificate
- Original or Certified copy of Birth Certificate (if applicable)
- Original or Certified copy of Marriage Certificate (if applicable)
- Social security certificate regarding employees
- Statement of Source of Funds
- Certified copy of Business License or Incorporation documents
Visa Free Travel
To be a tax resident in Turkey, an individual must have its legal residency in Turkey or stay at least 6 months per year in the country. Persons who stay more than 6 months due to a temporary assignment, may be considered as non-residents.
Residents are subject to tax on their worldwide income, while non-residents pay taxes on their Turkish-source income.
Personal income is taxed at progressive rates up to 35% on income exceeding TRY 110,000.
Capital gains are subject to personal income tax, except gains from the sale of real property held for more than 5 years. Certain gains derived from the sale of shares and capital market instruments may be tax exempt.
Dividends received from local entities is usually 50% tax-exempt, those from non-resident entities are fully taxable. A minimum tax-exempt threshold may apply.
Interest income is taxed between 0% and 18% depending on its nature. Rental income is considered taxable income, but an exemption may apply subject to certain conditions.
Turkey has enacted controlled foreign companies rules. This means that profits retained in foreign entities owned deemed to be controlled by tax residents, may be attributable if certain conditions are met.
Real property tax is levied at rates that ranges from 0.1% to 0.3%, depending on the type of property. Both buyer and seller of real property are subject to a transfer tax at 4% (2% for each party).
Gifts are taxed at progressive rates from 10% to 30% and inheritances between 1% and 10%.
There is no wealth tax in Turkey.
V.A.T. is levied at a 18% rate. Reduced rates of 8% and 1% may apply to certain goods and services.
With regard to corporate taxation, resident entities are subject to a 20% income tax on their worldwide income. To learn more about Turkish corporate legal framework, taxes and tax treaties, check out incorporations.io/turkey.
This should not be construed as tax advice. Flag Theory | Passports.IO has access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.
ProceduresPlease sign in to view
Flag Theory | Passports.IO and our attorneys in Turkey, will guide you through each step of the process to ensure that it is as fast, efficient, pain free as possible.
First, we will do a due diligence check on you to ensure that you are eligible.
If required, we may incorporate your company, and introduce you to banks in order to open bank accounts and start to do business. We may handle your residency permit application, so you can reside legally in Turkey while you are setting up your business.
Once you have 100 employees, we will prepare all the documentation required to apply for the citizenship and handle all paperwork with the Ministry of Labor and Social Security. We will send you the application forms, and provide assistance to complete the questionnaires.
Once we have the confirmation from the Ministry of Labor and Social Security, we will submit your citizenship application to the Ministry of Interior.
The application should be processed in a maximum period of 3 month. After your application is approved, you will receive your certificate of naturalization. Then, you may apply for the Turkish passport.
For further information on Turkish Citizenship by investment, contact us for a free private consultation.