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Turkey’s Investment Programs: Opportunities and Perks Unveiled

Turkey’s Investment Programs: Opportunities and Perks Unveiled

Unlocking Opportunities: Turkey Citizenship by Investment Program 2023/24 Guide

Welcome Cab İstanbul comprehensive guide on Turkey’s Citizenship by Investment Program for the years 2023/24. In an ever-changing global landscape, securing a second citizenship has emerged as a crucial strategy for individuals seeking global mobility, financial security, and a wealth of opportunities for personal and professional growth. Turkey, with its rich history, vibrant culture, and promising economic outlook, stands out as a premier destination for investors looking to acquire alternative citizenship.

The Turkey Citizenship by Investment Program 2023/24 offers a golden opportunity for foreign nationals to invest in one of the world’s fastest-growing economies while securing the benefits of Turkish citizenship. Whether you are drawn to its strategic geographic location bridging East and West, enchanted by its diverse and welcoming social tapestry, or motivated by its investment-friendly environment, Turkey presents a unique proposition for prospective investors.

In this guide, we will navigate through the essential details, benefits, and requirements of the Turkey Citizenship by Investment Program 2023/24, providing you with valuable insights and considerations to make an informed decision. From real estate investment options to the application process, we cover it all to assist you in unlocking the doors to a world of opportunities awaiting in Turkey. For effective pre-investment research in Turkey, consider renting a vehicle from Cab Istanbul, complete with an English-speaking driver well-acquainted with the local market and region. This knowledgeable professional will not only facilitate your airport transfer with a personalized sign but also provide valuable insights and cost-effective solutions during your stay, assisting you in navigating Turkey's investment landscape efficiently. Embark on this informative journey with us, explore the prospects, and discover how the Turkey Citizenship by Investment Program can be the key to crafting a secure and prosperous future for you and your family.

Navigating the 2023/24 Turkey Citizenship by Investment Program: Your Comprehensive Guide”

New Horizons: Delving into Turkey’s Citizenship by Investment Program

Discover Investment Opportunities in Turkey:

As global dynamics shift, Turkey emerges as an enticing destination for foreign investors. The COVID-19 pandemic has highlighted the need for diversifying investments across various countries, reducing reliance on China. Turkey beckons with its young, cost-effective labor force and a suite of enticing incentives introduced by the government to attract foreign capital. These initiatives pave the way for profitable and efficient operations for investors choosing Turkey as their investment destination.

Investment Journey: Key Steps to Follow in Turkey

Embarking on an investment journey in Turkey begins with the foundational step of company establishment by foreign investors. This process requires obtaining several official permits and documents, a task we can streamline for you with ease. Below, you'll find a list of documents necessary for company formation, provided for your information.

Navigating Company Setup in Turkey as a Foreign Entity

Foreign individuals and corporations face the same conditions and requirements as local entities when setting up a company in Turkey, as stipulated by the Turkish Commercial Law (TCL). Whether you're an individual without Turkish citizenship or a corporation founded outside Turkey, the procedures and documents for company formation can be categorized into two main areas: trade tax office transactions and registry transactions.

Critical Considerations for Company Formation in Turkey

Before initiating the company establishment process, it’s imperative to finalize crucial details like the company's name, field of activity, headquarters location, designated manager/representative, capital, and shares distribution. Management should carefully deliberate on these aspects for each type of company formation, with particular attention paid to capital consultation.

Unlocking Benefits through Turkey's Investment Incentive Program

Aligned with its strategic objectives for production and export growth, Turkey aims to become a leading global player fully integrated into the global economy. In pursuit of this vision, the country extends various facilities and incentives to both domestic and international investors. Foreign entities investing in Turkey can leverage these incentives optimally. Under the investment incentive program, foreign companies established in Turkey are treated on par with domestic companies, fostering a supportive environment for investment from both Turkish and international citizens.

Exploring Options for Purchasing an Apartment in Turkey

Exploring Profitable Turkish Industry Sectors for Investment: 2023/24 Guide

Turkey's industry is poised for continuous growth, driven by a young and skilled labor force, a strategic geopolitical position, and enticing incentives for investors. Below, we spotlight sectors of the Turkish industry demonstrating significant promise and potential for profit.

Defense Industry: Turkey's defense sector is burgeoning, presenting unlimited opportunities for projects and initiatives related to the defense industry.

Manufacturing and Production Industry: With a focus on manufacturing electronic devices and machinery, Turkey offers appealing incentives like regular tax deductions and land allocations for investors to stimulate domestic production. Sectors like vehicles (air and land), electronics, communication devices, computing machinery, medical devices, printing products, and IT products represent profitable mid to long-term investment opportunities.

Energy and Natural Resources Industry: Turkey is championing investments in sustainable energy sources, including wind and solar energy. Investing in renewable resources not only helps reduce Turkey’s external debt linked to oil and gas but also aligns with the nation's abundant wind and solar energy potentials. Investors in hydroelectric, wind, solar, natural gas, bioenergy, and geothermal energy can avail of incentives such as:

  • VAT Exemption
  • Customs Exemption
  • 40% Tax Discount
  • 7-Year Social Security Premium Employer's Share
  • Interest Support (up to 700,000 TL)

Software and IT Industry: To keep abreast with digitalization, Turkey is investing in domestic software production, offering attractive incentives for foreign investors in software development, biotechnology, nanotechnology, and electronics. Despite the presence of major domestic and international companies, there are still significant opportunities in this field.

3D Printing Industry: The 3D printing sector in Turkey is gaining traction, mirroring global trends. With the sector experiencing 25% growth in 2017 (up from 20.3% in 2012), the falling cost of technology and increased interest from both consumers and large-scale industrial enterprises signal that 3D printing is a burgeoning field with much to offer prospective investors.

At Hrh LUCKY, headquartered in Istanbul, we leverage our extensive network to provide you with essential documents and information throughout your investment journey. We ensure your stay is comfortable, offering accommodation in premier hotels and providing personal assistance and luxury transportation services for a seamless experience in Turkey.

Launching a Business Enterprise in Istanbul

Emerging Investment Sectors in Turkey: Environment, Recycling, Textiles, and Apparel

Investing in Turkey’s Environmental and Recycling Industry: The environmental and recycling sector is receiving unprecedented attention as nations worldwide take significant steps to mitigate industrial damage, counter global warming, and address environmental pollution. Turkey, committed to its EU accession process and a staunch supporter of the Kyoto Protocol, places immense importance on recycling initiatives. With an anticipated investment ranging between 7 and 9 billion euros in waste management and recycling in the coming years, Turkey offers an array of support to investors in the sector. This support encompasses value-added tax relief, customs duty exemptions, investment allocations, interest assistance, and substantial tax breaks.

Opportunities in Turkey’s Textile and Apparel Sector: Turkey has carved a niche for itself in the global textile and apparel market, rivalling the dominance of countries like China. With its premium product quality, strategic geographic placement, efficient logistics, and abundant material resources, Turkey has evolved into a pivotal player in the textile industry, currently ranked as the eighth-largest apparel exporter globally. The future holds promising prospects for investors in Turkey’s textile and apparel sector.

Investors in this vibrant industry benefit from various incentives presently, with the anticipation of more to come with the expected launch of a new incentive program in 2018. Under this program, both domestic and international investments in the textile sector, particularly in the country’s eastern provinces, will enjoy additional incentives, further enhancing Turkey’s appeal as a destination for investment in textiles and apparel.

The Rise of 3D Printing Technology in Turkey

An Overview of Investment Incentives in Turkey: 2023/24

Foreign investors eyeing opportunities in Turkey will find a variety of government incentives designed to encourage and support their investment endeavors. Let's delve deeper into these beneficial provisions:

VAT Exemption: Investors holding an investment incentive certificate are exempt from Value-Added Tax (VAT) for machinery and equipment acquired both domestically and internationally.

Customs Duty Exemption: This exemption applies to overseas machinery and equipment purchases made under the investment incentive certificate, freeing investors from customs duty obligations.

Tax Reduction: Investors are entitled to reductions in income and corporate taxes. The total reduced tax amount is determined by discount rates until reaching the investment's contribution rate, which is the ratio of the total fixed investment amount subject to tax reduction.

Social Insurance Premium Support (Employee’s Share): The state covers social security premium employee shares, calculated over the minimum wage for employment provided by the investment, specifically for investments in Region 6 under the investment incentive certificate. This support has a 10-year validity with no upper limit.

Social Insurance Premium Support (Employer’s Share): This support covers the employer's share of the social security premium and is also valid for 10 years without an upper limit, applicable solely to investments in Region 6.

Income Tax Withholding Allowance: Income tax on additional employment provided by the investment is exempt from withholding, applicable only to investments in Region 6 for a 10-year period with no upper limit.

Interest Rate Support: This financial aid is provided for investment loans with at least a one-year term, covering a portion of the interest/profit share paid for the loan on up to 70% of the fixed investment amount recorded in the investment incentive certificate.

Land Allocation: Investments may be allocated land depending on availability, as per the regulations stipulated by the Turkish Ministry of Finance.

VAT Refund: VAT on building-construction expenditures for strategic investments (with a minimum fixed investment amount exceeding 500 million TL) is refundable.

R&D Incentive: Investors employing a minimum of 10 staff in R&D and design centers can avail special incentives for R&D and design projects until 2024. These include a 100% tax base deduction on R&D expenses, stamp duty exemption on issued documents, and customs duty exemption on imported products within the scope of R&D projects.


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