There is no minimum investment amount required; you just have to prove that you own a property or you are running a business, and that you have sufficient financial means to live in the country.
Your dependents (spouse and dependent children) may apply for a family visa, once you get your residence permit.
This permit is issued for a maximum of two years, extendable, provided that you are still running the business or owning a property, have stayed in the country at least 184 days per year, have been a tax resident and you have enough income to support yourself and your dependents.
After 8 years of legal residency, you may apply for a long-term residence permit, which will allow you to live in the country indefinitely. To be eligible, you must have not received any social aid from governmental institutions in the last 3 years prior to application, have sufficient and sustainable financial resources, and have a clean criminal record.
Instead of a long-term residence permit, after just 5 years of legal residency with a total interruption of less than six months, you may apply for citizenship. You must prove ties to the country, not have been convicted of any crimes, not have any serious disease and have sufficient income to support yourself and your dependents. In addition, you must attend an interview to prove your ability to speak Turkish.
- Declaration regarding sufficient and sustainable financial resources for the duration of the stay (stated in the application form; the authority may request supporting documents.)
- Official document regarding the applicant’s ownership of the residence (if applicable).
- An invitation letter or documents of such written by the person or companies to be contacted (if applicable)
- Valid medical insurance by a document facilitating health services in Turkey within the scope of bilateral social security agreements, or provision of a document issued by the Social Security Institution or document regarding the application made to the Social Security Institution that will be covered by the general health insurance or a Private health insurance.
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
- Proof of income
- Four passport-size photos
- Evidence of purchasing property (if applicable)
- Invitation letter by the company (if applicable)
- Evidence of Health Insurance
- Original or Certified copy of Marriage Certificate (if applicable)
- Original or Certified copy of Birth Certificate (if applicable)
- dual citizenship Yes
- Family members included Yes
- land ownership Yes
- Physical residence required No
- Personal visit required No
- Language skills required No
- Interview required No
- Investment Single -
- Investment Family 4 -
- Minimum annual income
- Time to citizenship 60
- Time to permanent residency 96
- Visa-free countries 105
- Financing available No
permanent residency benefits
temporary residency benefits
Due to its strategic position, located between Europe and Asia as well as between three seas, Turkey is a historical crossroads between Eastern and Western cultures and civilizations. Its territory has been home to several great civilizations such as the Persian Empire, Ancient Greece, the Roman Empire, the Byzantine Empire and the Ottoman Empire, among others.
The country is inhabited by 80 million people. Its capital is Ankara, although its most populated city, as well as financial, cultural and commercial center, is Istanbul. Its official language is Turkish and its official currency is the Turkish Lira (TRY).
Visa Free Travel
To be a tax resident in Turkey, an individual must have their 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 TRY110,000.
Capital gains are subject to personal income tax. This excludes 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 are 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 (CFC) rules. This means that profits retained in foreign entities owned and/or deemed to be controlled by tax residents, may be attributable if certain conditions are met.
Real property tax is levied at rates that range from 0.1% to 0.3%, depending on the type of property. Both buyers and sellers of real property are subject to a transfer tax of 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 for 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 the Turkish corporate legal framework, taxes and tax treaties, check out incorporations.io/turkey.
This should not be construed as tax advice. We have 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.
- Property tax Yes
- Transfer tax Yes
- Inheritance tax Yes
- Net worth tax No
- CFC law Yes
- Tax residency days 183
- Personal income tax rate 35%
- Capital Gains tax rate 35%
- Investment income tax rate 17.5%
- Territorial taxation No
ProceduresPlease sign in to view
Our attorneys in Turkey, will guide you through each step of the process to ensure that it is as fast, efficient and pain-free as possible.
First, we will carry out a due diligence check on you to ensure that you are eligible.
If required, we will provide you access to our network of developers and real estate agents in Turkey in order to find the property that best suits your needs. We may introduce you to banks in order to open a bank account and transfer your funds.
Alternatively, we may incorporate your company and introduce you to banking options, so you can start your business.
Once you have purchased the property or set up your business, we will prepare all the documentation required to apply for the residence permit and handle all paperwork with the Ministry of Interior. We will send you the application forms, and provide assistance to complete the questionnaires.
After that we will submit your residency application to the Ministry of Interior.
The application should be processed in a maximum period of 3 months. After your application is approved, you will receive your residence visa. Then, you will need to travel to Turkey within 6 months of its issuance, otherwise it may be cancelled.
For further information on the Turkish Residence permit, contact us for a free private consultation.