Turkey’s economy recognized as a regional power while its location has given it geopolitical and strategic importance throughout history. Turkey access to 1.7 billion customers in Europe, Eurasia, the Middle East and North Africa worth $25 trillion of 1.7 billion consumer market. Turkey has the world’s 13th largest GDP by PPP and 17th largest nominal GDP. The country is among the founding members of the OECD and the G-20. The EU – Turkey Customs Union in 1995 led to an extensive liberalization of tariff rates, and forms one of the most important pillars of Turkey’s foreign trade policy. Turkey offers corporate Income Tax reduced from 33 percent to 20 percent (22 percent for 2018, 2019 and 2020). There are estimated 58,400 companies with international capital in 2017
Turkey officially announced citizenship by investment program in Sep 2018 to encourage foreign investment and boost growth in real estate sector.
The Government of Turkey published amended citizenship regulations reducing the investment amounts to foster foreign direct investment in official gazette dated 18 Sep 2018. According to the new amendments, foreigners buying real estate or invest in any of the following options will be eligible for turkish citizenship by investment.
The New Turkish Citizenship Rules Encourage Foreign Investment
- Real Estate: Buy real estate atleast $250,000 not sold for 3 years
- Bank Deposit: Deposit atleast $500,000 in Turkish banks
- Govenrment bonds or securities: Buy $500,000 Turkish government bonds locked for 3 years
- Venture capital funds: Buy $500,000 worth of VC fund share
- Job creation: Employ atleast 50 people
Investors qualify for fast track turkish citizenship and passport.
In 2018, Turkish passport has visa free travel to 111 visa free destinations and ranks 51st in world passport rankings according to Henley.
Turkey allows dual citizenship.