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New Turkish Citizenship law

There has been much talk in recent days about amendments to the Exceptional Turkish Citizenship Law and the mechanisms for obtaining them, which has raised concerns among many investors and entrepreneurs wishing to invest in Turkey or obtain Turkish citizenship.

By fact-finding, we can assure all those aspiring to reside or invest in Turkey that the new amendments are not concerned about them, but are in their interest and that of the Turkish state as well.

In 2018, the Turkish state introduced laws to obtain Turkish exceptional citizenship by purchasing a property worth more than US$400,000, but only on condition that the property was not sold three years before the date of purchase. She also acknowledged that exceptional Turkish citizenship could be obtained by depositing US$500,000 in a Turkish bank.

However, in the new amendments, the buyer, investor or person who will make the purchase or deposit must sell these amounts to the Central Bank of Turkey through one of the active banks in the country. This is a strategic decision as the state seeks through this decision to accumulate as much of the U.S. dollar as possible in the central bank and thus increase the monetary cover in banks of foreign currencies, which helps to improve the economy and raise the price of the Turkish lira against foreign currencies. The Turkish lira suffered a sharp collapse during the past period against the US dollar and other foreign currencies as a result of decisions to lower the interest rate in Turkey, which reached 14%, which made a lot of hot money leave the banks and citizens lost confidence in the local currency. These factors combined and caused the collapse of the Turkish lira.

The Turkish state and Turkish President Recep Tayyip Erdogan have tried to overcome these obstacles by developing a package of economic decisions that will help citizens restore confidence in the currency and put their savings from the US dollar and other foreign currencies as well as gold and silver in central banks. These decisions resulted in a unique situation in the economy that was admired by all economists worldwide, where the Turks pumped large amounts of foreign currency into banks, which made the value of the U.S. dollar against the Turkish lira fall from 18 lira per dollar to 10 lira per dollar in a day, which was a historic event in the history of the Turkish economy and even the world economy in general.

Going back to talking about Turkish citizenship, the Turkish state is one of the easiest countries in its citizenship procedures where Turkish citizenship can be obtained through some procedures, some of which may seem very simple, and we will mention four of these measures that may be easy for aspirants to obtain Turkish citizenship.

1- Buy a property worth US$400,000 and not sell it for three years.

2- Deposit 500,000 U.S. dollars in Turkish banks.

3- Establishing a company that employs more than 50 Turkish workers.

4- Working in the Turkish State by establishing a five-year employment.

Turkish citizenship is one of the strongest nationalities in the world, allowing its holder access to 110 countries around the world without the need for a visa.

When you acquire Turkish citizenship you can enjoy many of the advantages enjoyed by the Turkish citizen in the Turkish country and we will now mention some of these advantages

1- Enjoying the full rights of Turkish citizens such as free health insurance, free education in universities and running for election.

2- Ensuring Turkish citizenship for children under the age of 18 and wife.

3- Ease of the procedures of establishing companies, investing, reducing taxes and many other advantages.

Obtaining Turkish citizenship through real estate ownership is one of the easiest and surest ways in the period of confusion and is resorted to by many who want to settle or invest in Turkey, which is considered one of the best countries in living and stability in the recent period due to the low cost of living compared to the rest of the countries, especially the Arab countries, which made it a strategic choice for expatriates in the Gulf countries in particular.

Iltizam Real Estate is one of the most powerful real estate companies in Turkey in the field of real estate investment and has more than 500 projects in many provinces in Turkey. There are many models suitable for all tastes where you can choose the best property for you and your family. We have a large number of experienced real estate consultants in the Turkish real estate market for seven years where the advisory team responds to all your inquiries and nominates the property that is best suited to you and your family through the information you provide them.

Iltizam Real Estate guarantees you the best service in the field of real estate in Turkey

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Düzce City

It is one of the provinces of Turkey where it is located in the Black Sea region and has ancient Greek ruins, it is one of the cities of northern Anatolia.

The city of Duzce enjoys its strategic location, located between the capital Ankara and Istanbul.

Located in northwestern Turkey, Duzce is about 215 km from Istanbul..

The city of Duzce is characterized by its unspeakable beauty, the greenery of its plains, waterfalls and mountains covered with diverse green trees, rare plants, its mild climate and the nature of its beaches with distinctive beaches made it a tourist destination worth visiting, so the city of Duzce is named after the city of “Waterfalls and Lakes””

The city of Dozge consists of seven villages: Gomiari- Chlemli, Akchakoga, Yekelga, Gomoshova, Qalaka and Kainashali.

The city has many natural attractions from green plains such as Tobok Plain and Burenley.

And many waterfalls such as Aidan Pinar, Samandra, and Quzal Dra, which rises about 630 meters above sea level.

Duzce is one of the fastest growing destinations for rubber boat rowing in the world, adventure and water mathematics on the slopes of the Melan River..

Top attractions in the Turkish city of Duzce

Quzal Dra Waterfall

This waterfall is characterized by the beauty of its waters descending from the high mountains, where tourists and many lovers of adventures and mountain ascent, and ends this waterfall at the last point, the top of the mountain, where there are huts, restaurants and markets..

Eden Pinar Falls

Aidan Pinar Falls is 10 km from Duzce city center.

These waterfalls feature famous restaurants, especially in fish cooking..

Eden Pinar Falls is calm, wonderful and natural..

Milan River

A very suitable area for camping and rubber boat rowing, which is the best for water sports enthusiasts.

Vakeli Cave

It is about 30 km from The City of Duzce, located in the town of Akchakoga, and is 1017 meters long..

The Vakili Cave is a very important tourist kiss for tourists, especially historians and researchers, as it contains archaeological and historical inscriptions adorning the cave..

Jennifer Beach and Castle

About 40 km from Duzce, It is located in Akshakoga.

It is one of the most suitable places to camp out and do barbecues because of the beauty of its water.

Jennifer Castle is characterized by its Ottoman-era heritage and huge walls..

All of this has enhanced the status and importance of Duzce, as it is ranked one of the best tourist trips in Turkey.

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Important information about Turkey

Visa

It is highly recommended to review Turkey’s visa information before visiting foreigners who wish to visit, whatever the reason for the visit. Tourist and commercial visa procedures may differ from work and study visa procedures in any country, and Turkish visa policies also vary from country to country according to inter-country agreements.

Some visa applicants may be exempted if the reason for the visit is tourist or commercial or they can obtain an e-visa, but other applicants who want a work visa or study visa must apply through the Turkish Embassy in their country.

Passport duration

Foreigners wishing to enter Turkey must have a visa, visa exemption or residence granted to them with a passport or documents proving that the passport is valid for at least 60 days

Housing in Turkey

Many universities in Turkey offer campus accommodation to all international students who wish to stay on campus or in state-owned housing, and some students prefer to live in private outdoor accommodation.

The price of meals is not generally added in fees, but there are restaurants where students can eat breakfast and other meals at a relatively low nominal cost of “all fees in Turkish lira” regardless of their nationality.

All foreign students must pay the same amount as Turkish students, in addition to the fact that most Turkish dwellings are separated male and female.

Health

All foreign students receiving their education in Turkey can benefit from public health insurance coverage in Turkey. All government hospitals are used at no charge and can also use private hospitals by paying moderate fees. To take advantage of Turkey’s public health insurance system, you can go to your university’s foreign student office for more information.

Students can go to the Social Security Foundation to apply and when you complete your application, you will pay your public health insurance fees, which are determined on an annual basis within one month of the date of your Social Security records.

If you do not apply for a public health insurance system within the “3 months” time period, you cannot benefit from the state’s public health insurance services. But if students have international health insurance they can use it or can benefit from private health insurance in Turkey. Some universities may also offer a special health insurance policy to their foreign students.

Please also bear in mind that Turkey is known for providing high quality health services at low cost for this reason, many patients from neighbour countries as well as from developed Western countries prefer to come to Turkey for cheaper health treatments for surgery, dental and eye examinations.

Students can benefit from their health insurance in Turkey, and in order not to face any problems we recommend students to conduct regular medical examinations

Climate and temperature in Turkey

Turkey is home to the oldest civilizations in the world and many societies to turkey’s greatest empires and is the cradle of cultures and civilizations connecting Europe and Asia. It is also the capital of civilizations that have ruled Anatolia for centuries.

The climate and weather in Turkey along the Black Sea coast is continental, in Turkey humidity levels can be very high. During winter, especially in December and January, the weather is very cold as temperatures can drop below zero. Weather in Turkey’s capital, Ankara, as well as central Anatolia, cold in winter and dry hot during summer

Turkish currency

The currency is the Turkish lira “TL” can be found ATMs even in the smallest towns of Turkey, most ATMs are accepted with international credit cards or bank cards “usually the brand bar is displayed above the ATM” almost all ATMs have a language key to enable you to read instructions in English or Arabic most businesses accept international credit cards such as Visa and Master Card and American Express.

Turkey Bridge of the World

You have many reasons to come to Turkey because each place has its own spiritual and geographical features that attract a lot of people from all over the world, for example Istanbul is the only city in the world that connects the continents Asia and Europe it is a city located in both Asia and Europe, the capital of many civilizations for thousands of years throughout its history Turkey is more than just a bridge between two continents. In fact, Turkey is a country where East and West meet on a large scale. Turkey has succeeded in blending these two cultures as home to cultural and historical heritage for thousands of years.

Cost of living and study in Turkey

Study and living abroad are another factor to consider as you decide to study abroad. According to Mercer’s global cost of living rankings, Turkey’s major cities are at the bottom of the list of the most expensive cities in the world.

Turkey is the door to the job of your dreams

One of the key questions you’ll ask yourself after graduation is what happens next? Foreign students who graduate from Turkish universities have a lot of options, for example students can choose to continue their education by obtaining a master’s degree and then returning home with a widely accepted certificate that will make it easier for them to find a job either inside or outside Turkey. In addition, foreign students can work part-time on campus while teaching

Turkey is moving towards being one of the world’s leading economies through its developing and developed economy. The number of international brands operating in Turkey with Turkish brands is increasing. The number of international companies operating in Turkey reached 34,000, 50% of these companies from EU countries since Turkey is a favorite country of foreign investors, you can also get the opportunity to work in one of these international companies

Quality of education in Turkey

In the past 10 years, Turkey’s higher education system has developed significantly in terms of quality and quantity and Turkish universities now offer a wide range of options for foreign students and this quality is reflected in the international classification list system according to Times of higher education BRICS and emerging economies.

In addition, 9 Turkish universities have been placed in the top 800 by Quacquarelli Symonds in the UK. English, these programs include medicine, engineering, humanities, business and finance all students can continue their education in other countries through the ECTS system (European balance transfer system) and they can obtain their certificates recognized by other countries

Turkish language

In Turkey, the most common languages used in higher education institutions are: Turkish, English and Arabic there are also some higher education institutions where the language of teaching is German or French but if you apply for an academic program taught in Turkish, you are expected to learn Turkish. Turkish is one of the most popular languages in the world, for foreign students who want to improve their Turkish language, of course Turkey is the best place to do so.

Inheritance law in Turkey after the death of foreign nationals who own real estate in Turkey

Inheritance law in Turkey after the death of foreign

Inheritance law in Turkey after the death of foreign nationals who own real estate in Turkey

Inheritance law in Turkey after the death of foreign nationals who own real estate in Turkey

The recent changes made in the real estate ownership law in Turkey, it has become easier for foreigners to own real estate. Questions have increased regarding what will be the status of real estate in Turkey in the case of the death of foreign nationals, their exodus, or the withdrawal of Turkish citizenship from them.

We will briefly and clearly explain the most important points regarding the inheritance law for foreigners in Turkey

Inheritance according to Turkish law

* According to Article 20/2 of Law No. 5718, the provisions relating to inheritance, possession and division are subject to the law of the Turkish state

Also, in Article 20/1 of the Turkish Inheritance Law, the inheritance is subject to the national law “meaning the law of the Turkish state”, which means that the Turkish law will be applied regarding the deceased’s real estate located in Turkey without regard to the mother nationality he holds.

In other words, the law of the country whose nationality the deceased person holds will not apply, but rather the Turkish inheritance law will be applied with respect to his real estate located in Turkey.

How do the heirs of foreign nationals use their rights in the Turkish inheritance law?

* After the death of a foreign person who owns real estate in Turkey, regardless of whether this person or his heirs are Turkish citizens or not, foreign nationals benefit from all legal rights related to that property.

For this, it is required to extract the inheritance inventory document that is extracted from the Turkish courts in order to carry out the procedures for transferring real estate located in Turkey to the legal heirs.

This means that an inheritance inventory document must be obtained from a Turkish court because the transfer process related to real estate in Turkey will not be carried out with an inheritance inventory document issued by a foreign country “that is, the mother country of the deceased person”

How to obtain an inheritance inventory document in Turkey

* The legal heir of the deceased foreigner must translate the inheritance inventory document into Turkish, ratify it by the notary public, and submit an application to the Magistrate’s Court in the region where the property is located to issue an inheritance inventory document to be used within Turkish lands and institutions.

And since the issuance of the inheritance inventory document is considered an urgent procedure, this document will be secured by the court within a short period of time.

After obtaining the inheritance inventory document, they go to the Real Estate Records Directorate and carry out the procedure of transferring the property registry to the legal heirs with ease. “All these procedures can be done by a Turkish lawyer”

Briefly required documents are:

  1. Translation of the inheritance inventory document issued by the foreign country and the death certificate of the deceased person into Turkish and authenticated by the notary public
  2. Going to the Magistrate’s Court in the area where the property is located to issue a document collection of the inheritance.
  3. Go to the Directorate of Real Estate Records and have the inheritance inventory document issued by the Turkish court to carry out the process of transferring ownership of real estate

Who are the legal heirs in Turkish law?

  1.  If the deceased had a wife and children living regardless of their gender, whether male or female, then ¼ of the inheritance for the wife and ¾ of the inheritance for the children are entitled.
  2. If only children live, the entire inheritance is divided equally among the children, regardless of whether they are male or female.
  3.  If the deceased person has no children, the inheritance is divided between the wife and parents, and in this case ½ of the inheritance is entitled to the wife and the other half to the parents.

These are the inheritance rights in the Turkish inheritance law. This situation varies according to the relatives of the deceased who live (children, mother, father, grandmother, grandfather, brothers and others) and if the deceased does not have any legal heirs and if he does not have a will written according to Turkish law, the entire money remains for the state treasury of the Republic of Turkey.

Inheritance law in Turkey

For consultations, you can contact one of the consultants of El-Tezam Real Estate Company by calling or WhatsApp after clicking on the number: 00905426792293

Read also: Obtaining Turkish citizenship through real estate investment in Turkey

Tourism in Turkey 2021

Tourism in Turkey 2021

Tourism in Turkey 2021

Tourism in Turkey 2021

Hagia Sophia, Bosphorus Bridge, Sultanahmet District, Taksim District, Duden Waterfalls, Black Sea and Marmara Beaches, Princess Islands, Girl’s Tower, and more.

These are Turkish tourist attractions whose fame has reached all over the world and because of them, Turkey occupied the highest ranks of tourism and became the preferred destination for many lovers of tourism and touring, which contributed to the rise of the Turkish economy and was reflected in the construction growth and the real estate sector in the country.

Turkey, the favorite country for world tourists

Turkey is a destination for tens of thousands of tourists of different nationalities and countries, and it is still achieving a significant increase in the number of tourists. With its diverse landscapes and tourist attractions, it is the first and preferred destination for most tourists, and tourism companies in many countries organize tourist trips to Turkey annually And Turkey, in turn, opens its doors wide and welcomes the incoming tourists with a hearty and warm welcome.

What are the most important factors attracting tourists to Turkey?

Tourist attractions in Turkey vary, as there are very impressive historical tourist places, mountain and coastal tourist cities, perfect landscapes, sea views, monuments, security and tranquility, availability of tourist resorts and residential hotels and their willingness to serve tourists Always, the availability of a lot of tour companies to organize tours and many more.

Tourism in Turkey in 2021

Tourism in Turkey started this year with record numbers greater than expected after the great success achieved by Turkey in combating coved-19, according to official statistics, and Bulgarian tourists ranked first in terms of the number of tourists coming to Turkey, and Georgia came in second place, then Russia and Germany, and Iran.

What is the best area for tourism in Turkey 2021?

The city of Istanbul came in the first place in terms of the number of tourists in the current year 2020, as the city of Istanbul contains many places and attractions, historical and archaeological such as Hagia Sophia Mosque, Sultan Ahmed Mosque, Toppi Kapi Palace.

Edirne came in second place, then Antalya, which is distinguished by its natural landscapes and pleasant and moderate atmosphere, and is also rich in archaeological monuments such as Duden Waterfalls, Antalya Museum and Water City and others, then Artvin, and finally Ankara.

Is it better to visit Turkey in the summer or winter?

In the summer, many tourists come to Turkey, especially from countries with a high temperature climate such as the Gulf states, Arab countries in general, America and Asia, where Turkey’s summer climate is characterized by moderation, and in winter Turkey is a destination for sports lovers and winter activities such as skiing, and for snow and rain lovers, where it is a country rich in high mountains, where its nature is suitable for practicing all the fun winter activities.

What are the costs of tourism in Turkey 2021?

Turkey is one of the least expensive countries in the case of tourism compared to similar European countries, and in order to roughly calculate what the cost of tourism in Turkey is, you need to collect the following costs: airline tickets that may differ from one airline to another and from one country to another, transportation fees in the country where Turkey provides a network Public transportation is available to everyone, and its cost is reasonable, the fees for booking a hotel or hotel apartment, and also the prices here range according to the evaluation of the hotel, so you can choose what you want according to your budget.

As for the costs of entering the tourist areas, they are considered very acceptable and symbolic, and we still have the cost of shopping and purchasing, which varies from one to another.

How did the tourism activity affect the real estate sector?

Because of Turkey’s scenic beauty and its famous landmarks, huge numbers of tourists flocked to the country and this led to the desire of some to settle in Turkey and live in it. Companies that provide apartment management services) and some have tended to buy real estate using the stock system, where you can own a specified period of time annually in a tourist resort as permanent ownership, benefiting from it annually at good prices.

Some investors and business people also tended to buy and resell the apartment and take advantage of the high profit margin that the Turkish real estate market achieves permanently.

Turkey is a tourist country with distinction, offering its visitors various services and tourism needs at reasonable prices, and it ranked sixth in the world in terms of tourism activity.

Here our article ended, and to obtain advice and offers of apartments for sale in Turkey, you can contact one of our consultants by calling or WhatsApp number: 00905444333589

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Advantages and Disadvantages of real estate investment in Turkey

Advantages and Disadvantages of real estate investment in Turkey

In recent years, the real estate sector in Turkey has become one of the most growing real estate markets in the world, as Istanbul has become more developed and real estate projects in it are constantly expanding. The development wheel in Turkey is moving very quickly and with steady steps.

Wherever you wander in Istanbul or other Turkish cities, you will inevitably be impressed by the unique style of its buildings, which blends the legacy of the past with the evolution of the present with the blending of the beauty of the beauty of that God has distinguished this wonderful country.

What distinguishes Turkey?

In Turkey, the real estate market races its counterpart from the European and Arab markets, but it has become the best option for investors and those wishing to settle in Turkey due to turkey’s strategic location connecting the continents of the world, and the amazing beauty of Istanbul and all of Turkey.

Turkey is also characterized by a combination of European cultural development while preserving the values and principles of Islam and general customs.

Turkey is the preferred destination for families seeking stability and raising their children in an advanced country while preserving them from cultural or moral problems that some residents of Europe may experience.

What are the reasons for the high value of real estate in Turkey?

The value of real estate investments in Turkey increases periodically for the following reasons:

  • The Turkish state permanently improves the infrastructure.
  • Transformations and growth in general in the Turkish economy.
  • Increase cash flows from real estate.
  • The impact of the large volume of demand in the Turkish real estate market.
  • Announcing new renovations and benefits.

What are the reasons that may lead to a decrease in the value of the property in Turkey?

  • Emergency sale of the property
  • Lack of maintenance and continuous renovations of the property
  • Demand and supply conditions in the real estate market
  • A Change in the government real estate investment laws
  • Reverse impact of deteriorating infrastructure and social services

What are the types of real estate investment in Turkey?

  • Residential real estate investment
  • Commercial real estate investment

Residential real estate investment

It is to invest in real estate that is used for residential purposes only.

What is the commercial real estate investment?

It is to invest in real estate that does not include housing by a family or family such as investment in (offices, shops, real estate used for industrial purposes, retail real estate, hotels, and student residences.)

Comparison between residential real estate investment and commercial real estate investment

Advantages of commercial real estate investment in Turkey

  • Monthly income and investment return from real estate are relatively high.
  • The owner of the property does not have to deal with expenses related to the repair and maintenance of the property or its development because often the tenant is authorized to deal with the property in accordance with his work and the purpose of renting it.
  • Tenants have good source of income, so you will not have any problems getting back your rent on a regular basis.

The disadvantages of commercial real estate investment in Turkey

  • The difficulty of finding tenants is sometimes one of the drawbacks of this type of real estate investment.
  • When Influenced by general economic conditions, it may sometimes make the investment property unoccupied for some time.
  • It can also be a little difficult to sell the property because the demand for commercial real estate as buying or owning is not as dense as investing in residential properties.

Advantages of residential real estate investment in Turkey

  • Ease of finding tenants.
  • Easy to sell residential properties, especially if they are in high-class area.

Drawbacks of residential real estate investment in Turkey

  • You will have to deal directly with the tenants and find solutions to their problems yourself, how ever this can be solved through appointing a trusted company.
  • You may have problems like not paying rent on a regular basis.

Where is the best place to own a property in Turkey?

According to each person’s desire and need differs the preferred place to invest, in terms of the beauty of nature most Turkish cities are considered tourist and spectacular views with distinction, as some Turkish cities are characterized by the fame of some industries or agriculture and some cities are characterized by the view of the coast of one of the seas such as the Black Sea or the Mediterranean Sea.

Istanbul is the preferred destination for most Arab investors because of its huge business and tourism activity, followed by property in Antalya, Bursa or Yalwa.

Real estate prices in Turkey?

The price of the property varies from location to location in Turkey, there are several factors such as the area of the property, the date of construction, location, and public services nearby, Is the property still in the construction phase or ready for housing? All these factors contribute to determining the price of the property.

If the property is still under construction, the price is slightly low, leaving a good profit margin in the future for those wishing to own for commercial real estate investment.

In Istanbul prices are divided into three sections by region as follows:

1-Besiktas, Shishli, Ataşehir.

These areas, which are preferred by the elite of Turkish society and can be called the city center, are among the archaeological sites in Istanbul as well as overlooking the Bosphorus Strait and near the Area of Fatih, Sultan Ahmed, Taksim area and Ayoub area and these areas are very crowded buildings and there is rarely land to build there and thus the establishment of new projects there is only a few percentages available.

Prices in the region start from $3000 dollars to $6000 per meter square.

2- Bashak Shahir, Junchli, Mahmoud Bayh, Bahsli Evelar.

These areas are preferred by the majority of Turks as well as preferred for foreigners who are considering investing in Istanbul because prices are medium and can be purchased in installments from private or government projects.

Prices in this area start from $800 to $1,300 per meter.

3-Belekdozo, Asnort, Arnaout Koi, Avgelar

Real estate prices in these areas start at $400 to $700 per meter, with some properties overlooking the lakes being higher.

What are the reasons for the high value of real estate in Turkey?

  • The Turkish state permanently improves infrastructure.
  • Transformations and growth in general in the Turkish economy.
  • Increased cash flows from real estate in Turkey.
  • The impact of the large volume of demand in the Turkish real estate market.
  • Announcing new renovations and benefits.

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Taxes in Turkey

Taxes in Turkey

Taxes in Turkey

Turkey is one of the countries that is very organized in terms of tax-collecting, and anyone who resides in Turkey should be fully and adequately aware of the tax law in Turkey and know accurate information and details about this subject because of its importance in case you want to invest, reside, own or start an economic activity or trade, it is useful to be familiar with the tax law in Turkey so that you can organize your affairs well.

Do foreigners have more taxes in Turkey than Turks?

This is a rumor that we hear constantly and every now and then, and it is normal in any country that any economic activity is taxed but distinctive in Turkey that taxes on foreigners are the same as those imposed on Turks without any increase.

In the Turkish tax code, you can start a business, own real estate, or any other business and only the normal taxes paid by Turkish citizens are paid if they do the same business or business activity.

In Turkey sometimes foreign investors are forced to have some simple additional costs in exchange for translating some documents, the costs of taking an interpreter, the need for intermediaries and experts residing in Turkey, or the need to employ Turks within the institutions they own, and these things are not classified under the terms of the tax law in Turkey, but are needs that you may or may not need depending on your ability to do your things alone or depending on the nature of your investment activity.

Are taxes in Turkey more than in Europe?

Tax rates in Turkey are very competitive compared to many European countries and America, and according to the OECD classification, taxes in Turkey are competitive and encouraging to invest.

It is worth mentioning that Turkey enjoys a clear and transparent tax law which gives you reassurance, ease in legal procedures, trust, and security. Taxes in Turkey are objective, logical and in line with international laws and standards of taxation.

From time to time, Turkish law is subject to amendments and reductions, either permanent or temporary, to encourage foreign investors.

Types of taxes in Turkey

Taxes in Turkey have three types and are branched out by several forms of taxes.

  • Income taxes
  • Expenditure taxes
  • Wealth and property taxes

Here are the broader details about the types of taxes in Turkey:

Income taxes

Income taxes are divided into two parts:

  • Individual income tax
  • Corporate income tax

Income taxes in Turkey also focus on two key points:

  • Income elements and resources
  • Net income

Per capita income tax in Turkey

The amount of net earnings and returns earned per person within one year is determined.

The following is a list of per capita income items for which taxes are calculated in Turkey:

  • Commercial profits
  • Agricultural profits
  • Salary or monthly wage
  • Income independent services (not restricted by a fixed salary)
  • Income from immovable property proceeds (rental properties)
  • Income from proceeds of movable property (financial investments)
  • Other gains and returns

For Turks and foreigners residing in Turkey for more than six months during the year, income, and earnings elements inside and outside Turkey are calculated for individual taxes.

Those living outside Turkey, whether Turkish or foreign, who do not spend six months during the year inside the country, are only accountable to their sources of income within Turkey.

Per capita income tax is calculated if the monthly per capita income exceeds 14,800 Turkish Lira.

The value of the per capita income tax in Turkey ranges from 15 to 35% of the value of income.

The following is a table of taxes in Turkey on individual income:

Income ValueTax Rate
14,800 Turkish Lira15%
14,801-34,000 Turkish Lira20%
34,001-120,000 Turkish Lira27%
More than 120,000 Turkish Lira35%

Corporate income Tax

If the income comes from companies or institutions in Turkey, the legal entities that represent the company are taxed, and taxes in Turkey for corporate income are calculated according to the following list:

  • Companies
  • Associations
  • Public economic facilities
  • Economic establishments owned by institutions and associations
  • Joint ventures

The rate of income tax on the profits of commercial companies is between 20 and 22%, but the Turkish government often adopts the lowest percentage.

The tax rate on the income of companies residing in Turkey is 15%, paid when dividends are distributed to individual shareholders of the company.

Non-resident companies in Turkey are also subject to a 15% income tax and are paid when transferring profits to headquarters within Turkey.

This tax applies only to profits after distribution or transfer and the capital is not included in the calculation of the tax value, but only profits are.

Expenditure taxes

  • VAT (Value Added Tax):
  • VAT in Turkey applies to goods and services of an independent commercial, industrial, agricultural, artisanal nature, goods and services supplied from outside Turkey “imports”, deliveries of goods and services.
  • VAT in Turkey, has three rates: either 1%, 8% or 18%
  • There are privileges on VAT in Turkey and exemptions on several types, including:
  • Goods and services exported from Turkey (export abroad)
  • Roaming services within Turkey are provided to non-resident customers from outside Turkey, but provided reciprocity by the resident country, in accordance with international roaming agreements.
  • Manufacturers within free zones
  • Oil exploration activities
  • Port and airport services for ships and pilots
  • Imported machinery and equipment in the range of (investment certificate)
  • Transit
  • Deliveries of goods and services carried out by diplomats and representatives of foreign embassies, provided there is reciprocity with this country, as well as with respect to international organizations, they are subject to tax exemption along with their employees.
  • Insurance and banks’ transactions.

At the end of 2018, the Turkish government exempted Turkish and foreign real estate buyers who purchase real estate through bank transfer in foreign currency outside Turkey, and the exemption was for a temporary period that expired in March 2019. The Turkish government may reapply the exemption again for real estate or other sectors to encourage investors and its need for foreign currencies.

VAT tax applies to every delivery of goods and services.

SCT tax for private consumption:

There are 4 basic groups of products subject to private consumption tax and at different tax rates, these groups are:

  • Petroleum products (petroleum derivatives, lubricants, solvents and derivatives, natural gas)
  • Mechanical vehicles of all kinds: cars, motorcycles, airplanes, helicopters, and yachts.
  • Tobacco and alcoholic beverages
  • Recreational products

Private consumption tax is paid only once.

Banking and insurance tax:

This tax applies to income earned by banks, particularly interest on bank loans.

The maximum tax on insurance and banking transactions is up to 5%

Interest tax on bank deposit transactions is 1%

There has been no tax in Turkey on foreign exchange transactions since 2008

Stamp tax

From taxes on transactions containing written documents or papers, this tax is often a specific fee for a stamp attached to the document.

This tax applies to many documents: contracts, payment papers, capital contributions during the establishment of a company, financial and accounting statements such as payroll and wages, some letters in stamp taxes such as letters of credit, guarantee, etc.

The stamp tax is calculated either at a fixed and fixed rate for certain documents, or at a value of between 0.189% and 0.948% (i.e. less than 1%) 

Wealth and property taxes in Turkey

Turkey has three types of wealth taxes:

  • Property taxes
  • Car taxes
  • Inheritance and donation taxes

Here are some details about Turkey’s wealth and property tax rates:

Property TypeTax Rate
Buildings, apartments, and mortgages0.1%-0.6%
Protection of immovable cultural property “cultural buildings”10%
Inheritance and donation1-30%

The rate of car taxes in Turkey relates to 2 points:

  • The age of the car
  • Engine power

The value of the tax is determined differently each year.

Tax incentives in Turkey

Since the beginning of 2012, Turkey has introduced a tax incentive system to encourage foreign and Turkish investment, and the distinctive investment tax incentives in Turkey apply to Turks and foreigners alike.

Turkey has four different tax incentive systems:

  • International system
  • Regional system
  • Wide range system
  • Strategic system

Real estate taxes in Turkey

The system of real estate taxes on investors in Turkey is one of the most important points to consider if you are about to invest in Turkey, especially since Turkey is one of the most competitive countries in tax rates among OECD countries, and the investment and tax laws in Turkey are simple and clear, in addition to being in line with international standards, as well as achieving equal treatment among all investors, whether Turkish or foreign citizens.

Regulatory laws relating to the promotion of investments, particularly real estate in Turkey, have also provided incentives for investors, such as the law passed by the Turkish Parliament to eliminate any additional taxes on foreigners when buying a property other than those paid by both the Turkish and the foreign.

In general, Turkey is one of the most tax-riddled countries, and we will review in clear points the most important types of real estate taxes in Turkey and its rate and when to pay:

Tabu transfer tax

There is a tax due when the property is changed and must be paid when the tabu title deed is registered, which is estimated at 4% of the value of the property declared and specified in the tabu and paid by both the seller and the buyer equally, but mostly the buyer pays it in full.

Property profit tax in case of resale

If you own a property in Turkey and decide to sell it 5 years before the date of purchase registered in the title deed, then you will have to pay a tax determined by the amount of profit you made from this property, and the profits are calculated by subtracting the price at which you bought the property fixed in tabu, and above the original price is considered profits and subject to tax as follows. :

  • If the profits are less than 6800 Turkish Lira no tax will be charged
  • If the value of profits from 7000-8000 Turkish Lira the tax is 15%
  • If the value of the profit of 8000-18,000 Turkish Lira 25% tax is calculated
  • If the value of profits is higher than 18,000,000-40,000 Turkish Lira tax is calculated at 27%
  • Profits of more than 40,000 Turkish Lira and above is charged at 35%

This is in relation to the tax on profits from the resale of the property five years before the date of purchase, but in the case of five years the profit tax is not calculated which guarantees you a more profit margin.

Annual tax on all types of real estate in Turkey

  • Residential real estate is paid a tax of 1% per annum.
  • Commercial real estate is paid 4% tax per annum.
  • Land with permission to build commercial buildings 6% per annum
  • Agricultural land 0.2% per annum

Earthquake insurance tax

Turkey has two types of property insurance:

Compulsory and non-compulsory insurance and compulsory insurance only is earthquake or disaster insurance in general, known as DASK, and this tax amount must be paid after the title deed is registered in your name, its value depends on the size of the property, and must be renewed every year.

Monthly revenue tax

It relates to water, electricity and gas subscriptions and must be paid only once, in addition to other internet and television expenses, which are fully optional. You must also pay some small monthly fees, for cleaning, security and maintenance services provided by the residential complex. This amount is determined by the complex management after the completion of the project delivery.

KDV

This tax is calculated from the price of the property in the market, which ranges from 1% to 18% as the type of property and its location and the level of construction and the price of one meter of the land on which the property is built all these reasons affect the determination of the value of vat, as this value is not calculated from the total area of the property but from the net area, and this real estate tax is paid once when buying a property in Turkey

For nearly a year and a half, Turkey has seen the elimination of KDV on foreigners who buy property in Turkey and transfer the price of the property in dollars or euros from outside Turkey, like the treatment received by Turkish expatriates.

Unfortunately, this exception is over, but we expect such exceptions to return in later periods, as Turks understand the exceptions to turkey’s property taxes increase the desire of foreign buyers to own property in Turkey.

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Turkish Citizenship

Turkish Citizenship

To obtain Turkish citizenship through real estate investment in Turkey you must own real estate in Turkey with a total value of $250,000 or more. Whether it is a single property of this value or several properties, the procedures required to obtain citizenship need to be received in a period of 3 to 5 months.

Acquiring Turkish citizenship and buying real estate in Turkey

The Turkish government issued a new law regarding the ownership and real estate investment of foreigners in Turkey, where the law allowed foreigners to obtain Turkish citizenship in exchange for real estate investment in Turkey with a budget of $250,000 or their equivalent of any other currency, and before the issuance of this law any investor wishing to acquire Turkish citizenship had to reach the volume of his/her investments in Turkey 1 million dollars.

The law also facilitated the procedures for obtaining Turkish citizenship and allowed the establishment of joint offices under the supervision of the Turkish Ministry of interior and representatives of other ministries to facilitate and expedite the proceedings in a short time.

In the past, it would take 6 months for the Turkish government to complete the procedures for obtaining Turkish nationalities, and the Turkish government plans to reduce and shorten this period to be only a month and a half by linking and coordinating between ministries more strongly.

Briefly, foreign investors can now obtain Turkish citizenship at a quarter of the old cost, which has encouraged many investors to enter new real estate investments in Turkey to acquire Turkish citizenship and benefit from the relatively good investment return.

Conditions for obtaining Turkish citizenship

 The total price of real estate in Turkey purchased by the foreigner must be more than $250,000 and paid by transferring the amount from the buyer’s account to the seller’s account through a Turkish bank.

The investor undertakes not to sell the property until 3 years after the date of purchase, where the buyer signs a pledge with the Land Registry office that he will not transfer ownership of the property he /she bought to apply for Turkish citizenship to any other persons within a period of 3 years.

One of the procedures to be completed after the completion of the purchase of real estate, the evaluation of real estate owned by the investor who wishes to acquire Turkish nationality and is carried out by some companies authorized and licensed by the Turkish government to do so.

Documents required for Turkish citizenship

Turkish citizenship and the reason for your application was to own one or several properties in Turkey at a price of more than $250,000.

  • A copy of the Tabu document for real estate owned by the person applying for Turkish citizenship.
  • An original copy of the real estate valuation bond in Turkey for properties owned by the applicant, and the evaluation must exceed the minimum amount specified in the law by $250,000 or equal to them.
  • Bank receipts for the amount paid for real estate purchased in Turkey must be stamped by the Turkish bank through which the money was sent.
  • Receipts are received by the seller or construction company and must also be stamped from the bank through which the amount is sent
  • A copy of the buyer’s original passport
  • Criminal Records Certificate
  • 2 personal photos
  • Fill out the Turkish passport application form with the stated that the investor wishes to obtain Turkish citizenship along with his children and his wife if they are present

Spouse and the children.

  • Original passports and translated copies from the notary in Turkey
  • Criminal Records Certificate for children and spouse
  • A marriage contract or a marriage document, if it comes from outside Turkey, must be translated and not written by the notary
  • Children’s birth certificates or any document containing the place and date of birth must be translated and not provided by the notary if they are issued from outside Turkey.
  • 2 personal photos for all applicants.

Note: The Turkish Ministry of Interior may request additional documents that vary according to the status of each applicant, and they will inform you where and how they are extracted.

Stages of Turkish nationality 2020

The following is a summary of the legal procedures needed to obtain the passport for real estate investors in Turkey.

1-Real estate valuation phase: The real estate investor in Turkey evaluates his property through companies documented by the Turkish government, and the names of these companies can be found from the lists located within the centers dedicated to the granting of Turkish citizenship, and it should be noted that companies usually grant this valuation within three days, and the valuation of real estate must be more than $250,000 to apply for Turkish passport.

2-The Tabu document or title deed from the Land Registry Office may require two or three days, where the tax number must be extracted first, then go to the Tabu Department and register the property officially.

3-The rest of the papers and other documents mentioned, translated, and certified in the Notre’s office are prepared for approximately 5 to 10 days and then delivered to the head office in Ankara.

After that, the rest of the procedures are the prerogative of the Turkish government until the President of the Republic signs the decision to obtain Turkish citizenship.

Conditions for obtaining Turkish citizenship in other ways.

It is worth mentioning that there are several other ways to obtain Turkish citizenship, including a deposit in a Turkish bank for $500,000 the establishment of a company, the employment of 50 Turkish workers, marriage to a Turkish citizen, the acquisition of Turkish citizenship through exceptional application, or the offer of the Turkish state if it deems that you have its nationality in its interest.

Note: Properties through which you can apply for Turkish citizenship must be the original owner of a Turkish citizen, meaning that the property of a foreign owner cannot be purchased, regardless of his nationality, and apply through it to obtain a Turkish passport.

These are nationalities that are not allowed to obtain Turkish nationalities: Armenia, Cuba, North Korea, Syria, and Nigeria.

Note: Yemen was banned from obtaining Turkish citizenship, but its citizens were recently allowed to obtain Turkish passports.

Syrians can also obtain Turkish citizenship through real estate investment but in limited cases.

Advantage of Turkish Citizenship

1- Free visa entry to 77 countries.

2- Using a Turkish passport, you can enter 26 Schengen countries and get their visas very easily.

3- Turkish passport is ranked among the top 30 passports in the world.

4- It is also a privilege to obtain Turkish citizenship to benefit from the Turkish post-retirement insurance system, which is one of the best post-retirement insurance systems in the world.

5- Also after obtaining Turkish citizenship your children can benefit from high quality education for the pre-university stages, as your children have easy payment plans for university education.

6- After obtaining Turkish citizenship you will be entitled to all political rights such as Turks from voting in elections or even running for a position in the Turkish state.

Ways to obtain Turkish citizenship.

There are several ways to obtain Turkish citizenship and we will mention it and explain the most important and easiest ways to obtain it.

  1. Obtaining Turkish citizenship through general submission
  2. Obtaining the Turkish passport by special application
  3. Obtaining a Turkish passport by marrying a Turkish citizen
  4. Acquiring Turkish citizenship through real estate investment in Turkey

Turkish citizenship through general application

In Article 10 and Article 11 of the Turkish Law, the conditions that must be met by the person who wishes to obtain a Turkish passport through public submission are specified, and these conditions are as follows:

  1. To be 18 years of age or more, and to be competent to act by himself according to the law of his country of origin or according to Turkish law if he is without citizenship.

Note: Eligibility to act means free of mental illness.

  1. He must have resided in Turkey for 5 continuous years without interruption.
  2. To be willing to abide by the Turkish law and constitution.
  3. To be free from diseases that threaten public health.
  4. To be of good character, good conduct, and behavior, and not have been accused of any dishonorable charge in Turkey.
  5. That he can speak the Turkish language in an acceptable way.
  6. To have a profession or a job that makes him able to support himself and support his family.
  7. That he does not belong to any groups or parties hostile to Turkey in his native country and does not pose any threat to Turkish national security

This way to obtain a Turkish passport by public application is the best way for workers in Turkey or students studying in Turkish universities.

Turkish citizenship through special application

This method is one of the easiest ways to obtain Turkish citizenship, if the Turkish countries seek to attract talents or influential people who can be beneficial to Turkey, such as those with good economic thought and viewpoints that may contribute to the elevation of Turkey.

  1. The economic, social, industrial, or in any field …
  2. People for whom obtaining a Turkish passport is a necessity.

Turkish citizenship through marriage

In this method of obtaining a Turkish passport, there are not many complications or conditions, only after marriage there are some simple conditions such as …

  1. Living as a harmonious family and a stable life free from domestic abuse and violence.
  2. Not to pose a threat to the Turkish national security.
  3. 3 years must pass after the marriage if there are no children, or it is possible to apply for a Turkish passport after the birth of the first child

Turkish citizenship through real estate investment

 Obtaining Turkish citizenship through real estate investment in Turkey is one of the fastest ways, as all procedures are completed, obtaining a Turkish residence card, and obtaining a Turkish passport only within 4 to 6 months.

However, there are several important conditions for obtaining Turkish citizenship through real estate investment, and the most important conditions are:

  1. Buying a property or several real estate in Turkey at a price of $250,000.
  2. A pledge not to sell the property three years before the date of its purchase.
  3. In the case of obtaining a Turkish passport by investing in real estate in Turkey, your spouse and children under the age of 18 will obtain Turkish citizenship with you.

Note: Turkish citizenship can also be obtained by establishing a company or factory and employing 50 Turks, and it is also possible through a bank deposit in a Turkish bank of $500,000 for a period of 3 years.

Required documents

VAT-4 FORM

  1. A copy of the translated passport and notarized by the notary.
  2. A social certificate for the applicant to obtain Turkish citizenship, whether he is married, widowed, or divorced and the number of children under the age of 18 years.
  3. Birth certificate for relatives of citizenship holders, if any.
  4. A residence permit valid for at least 3 months from the date of registration.
  5. A receipt from the tax office.
  6. For those applying to obtain a Turkish passport by marrying a Turkish citizen, a marriage proof document must be presented.

Turkish passport strength

There are dozens of countries that the Turkish passport holder can enter without a visa:

Iraq – Libya – Morocco – Sultanate of Oman – Palestine – Jordan – Qatar – Tunisia – Albania – Antigua and Barbuda – Argentina – Bahamas – Barbados – Belarus – Belize – Bolivia – Bosnia and Herzegovina – Botswana – Brazil – Brunei – Chile – Colombia – Costa Rica – Dominican-Ecuador-El Salvador-Fiji – The Gambia – Georgia / -Guatemala – Haiti – Honduras – Hong Kong – Indonesia – Iran – Jamaica – Japan

Kazakhstan – Kosovo – Kyrgyzstan – Macau – Macedonia – Malaysia – Mauritius – Micronesia – Moldova – Montenegro – Nicaragua – Panama – Paraguay – Peru – Philippines – Saint Kitts and Nevis – Saint Louis – Sao Tome and Principe – Senegal – Serbia – Singapore – South Africa – South Korea – Saint Vincent and Grenada – Swaziland – Trinidad – Ukraine – Uruguay – Vanuatu – Venezuela

    Visas upon arrival:

    Comoros – Bahrain – Kuwait – Lebanon – Sudan – Armenia – Azerbaijan – Cambodia – Cape Verde – Ivory Coast – Djibouti – Dominica – Guinea – Bissau – Madagascar – Maldives – Marshall Islands – Mauritania – Mozambique – Nepal – Palau – Samoa – Seychelles Suriname – Taiwan – Tanzania – East Timor – Togo – Tonga – Tuvalu – Uganda – Zambia – Zimbabwe

    There are also three countries that grant visas to Turkish passport holders from the Internet instantly and routinely:

    Mexico – Sri Lanka – Australia.

    As for the number of countries whose visas must be obtained before going to them, they are 94 countries, including 28 member states of the European Union, and negotiations are still underway to raise them, but in general, obtaining visas for those countries is very easy for Turkish passport holders.