Turkey Offers Tax Incentives to Attract Global Wealth

The Government of Turkey is implementing a series of tax incentives and amnesty programs designed to attract wealthy expatriates and international investors. These measures include minimal inheritance tax, a 20-year exemption on overseas income, and a citizenship-by-investment program for those purchasing real estate valued at at least $400,000.

Turkey aims to position itself as a regional finance and wealth center by capitalizing on instability in other global hubs. The government is targeting investors leaving the United Kingdom following the removal of the non-dom tax regime, as well as those deterred by U.S.-Iran hostilities affecting Dubai and Abu Dhabi. These efforts build upon the 2023 opening of the Istanbul Financial Center.

Despite these incentives, the country faces structural hurdles. The Savings Deposit Insurance Fund of Türkiye continues to manage over 1,000 companies through corporate seizures, and the nation still lacks the critical mass in international finance seen in its Gulf rivals.