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Turkey

Delivery:

3 months

Price: $

280,000.00

Payment methods:

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UK comapny formation (1).webp

About

Turkey

Capital
Official languages
Population 
Currency

ISO 4217

Ankara

Turkish

83,154,997 (as of 2020)

Turkish Lira

TRY

Document checklist:

The specific document requirements for the Citizenship by Investment Program (CIP) of Antigua and Barbuda may vary depending on the investment option chosen and the personal circumstances of the applicant. However, generally, the following documents are required to apply for citizenship under the program:


1. Passport or other travel document: A valid passport or other travel document is required to confirm the applicant's identity and nationality.


2. Birth certificate: A certified copy of the applicant's birth certificate is required to confirm their age and place of birth.


3. Marriage certificate or divorce decree: If applicable, certified copies of marriage certificates and divorce decrees are required to confirm the applicant's marital status.


4. Police clearance certificate: A police clearance certificate or equivalent document is required from the applicant's country of citizenship and any other countries where they have resided for more than six months within the last ten years.


5. Medical certificate: A medical certificate from a recognized medical practitioner is required to confirm the applicant's good health.


6. Proof of funds: Proof of the applicant's ability to make the required investment, such as bank statements, tax returns, and investment portfolio statements.


7. Investment documentation: Documentation related to the chosen investment option, such as a donation receipt, real estate purchase agreement, or business investment agreement. 

Provided by B2B Hub


8. Due diligence documentation: Any additional documentation required for the due diligence background check, such as employment history, educational certificates, and references.

Provided by B2B Hub

 

Process

The Citizenship by Investment Program (CIP) of Turkey, also known as the Turkish Citizenship Law No. 5901, allows foreign investors to obtain Turkish citizenship by making a significant investment in the country. The program was introduced in 2017 and has since become a popular option for high-net-worth individuals seeking alternative citizenship.


Under the program, there are several investment options available:


1. Real Estate Investment: This option requires a minimum investment of USD 250,000 in real estate in Turkey, with the intention to hold the investment for at least three years.


2. Capital Investment: This option requires a minimum investment of USD 500,000 in a Turkish bank account, a Turkish company, or government bonds with the intention to hold the investment for at least three years.


3. Job Creation: This option requires the creation of at least 50 jobs in Turkey, as confirmed by the Ministry of Family, Labor, and Social Services.


To qualify for citizenship under the program, applicants must meet certain eligibility requirements, including being at least 18 years old, holding a valid passport, and passing a due diligence background check. Additionally, the investment must be made through a Turkish bank account, and the applicant must hold the investment for a minimum of three years.


Successful applicants are granted full Turkish citizenship, including the right to live, work, and study in Turkey without any restrictions. Turkish citizenship also provides visa-free or visa-on-arrival access to over 110 countries, including the Schengen Area, Singapore, and Japan.


It is important to note that the Turkish Citizenship by Investment Program has its own specific requirements and regulations, and applicants should ensure they meet all the requirements and consult with an authorized agent or immigration lawyer before applying.

Economy

"Turkey has seen a steady growth in its economy over the past few years. According to the World Bank, the country's GDP grew by 5.2% in 2019, making it one of the fastest growing economies in the world. The country's unemployment rate has also decreased from 11.3% in 2018 to 10.3% in 2019. This is largely due to the government's efforts to create jobs and reduce poverty. In addition, the country's inflation rate has remained relatively low, at 8.9% in 2019.

Turkey has also seen an increase in foreign investment, with the country receiving $14.3 billion in foreign direct investment in 2019. This is a significant increase from the $10.2 billion it received in 2018. The country has also seen an increase in exports, with exports reaching $168.3 billion in 2019, up from $156.2 billion in 2018.

Overall, Turkey has seen a steady growth in its economy over the past few years, with the country's GDP, unemployment rate, inflation rate, foreign direct investment, and exports all increasing. This is a positive sign for the country's future economic prospects."

Taxation

In Turkey, both individuals and corporations are subject to taxation.


For individuals, the personal income tax rate is progressive, ranging from 15% to 35% depending on the amount of income earned. There is also a social security contribution paid by both employees and employers. Individuals are required to file an annual tax return by the end of March for the previous year.


For corporations, the corporate tax rate is a flat rate of 25% on profits earned. In addition to the corporate tax, there are other taxes that corporations may be subject to, such as value-added tax (VAT) and stamp duty. Corporations are also required to file an annual tax return by the end of June for the previous year.


The tax payment process in Turkey involves making monthly or quarterly tax payments throughout the year, depending on the size of the company. Individuals may also be required to make monthly tax payments if their income exceeds a certain threshold. Taxes can be paid online through the government’s tax portal, or in person at authorized banks and tax offices.


The tax calendar in Turkey begins on January 1st and ends on December 31st. The deadlines for tax filings and payments vary depending on the type of tax and the size of the company, but generally, individual income tax returns are due by March 31st, and corporate tax returns are due by June 30th. Monthly or quarterly tax payments are due on the 26th of the month following the tax period. Late payment of taxes can result in penalties and interest charges.

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