What is the foreign investment law in Turkey in 2023 ?
The investment law for foreigners in Turkey is defined as the set of laws and legislations regulating foreign investment procedures in Turkey.
The Turkish government provides many facilities and offers to attract investors and increase foreign flows. The facilities start by supporting exemptions from value-added tax, offering discounts on taxes, and granting permanent residence and Turkish citizenship.
Foreign investment in Turkey is subject to general rules that support the foreign investor:
Investing freely in all areas and reciprocity:
The foreign investor is treated the same as the Turkish domestic investor and they are equally subject to legal procedures the foreign investor can invest in various fields in Turkey.
Remittances and money transfers
A foreign investor in Turkey can transfer funds abroad without any legal impediment, provided that the transferred funds are from his net profits or investment returns.
Confiscation or nationalization
Turkish law does not provide for the confiscation or nationalization of public property for any person, whether a Turkish citizen or a foreign investor, except for cases resulting from a violation of the law and here the owner of the property is compensated for the value of the confiscated property.
Among the most important types of foreign investment in Turkey:
Investing in real estate
Foreigners in Turkey can own real estate within the Turkish state, according to the investment law for foreigners in Turkey, except for citizens of Syria, Cuba, North Korea, and Armenia, according to the law of reciprocity.
A foreign investor in Turkey can own property, and he is treated like any Turkish citizen about legal procedures and the issuance of a title deed.
Foreign real estate owners can obtain Turkish citizenship, provided that the value of the purchased property is 400 thousand US dollars.
Investing in bank deposits
Foreign investors can benefit from bank deposits to invest in the Turkish banking sector. Turkish citizenship is granted to this type of investor if an amount of 500,000 US dollars is deposited for at least three consecutive years.
The profits of the bank in which the deposit was made varies according to the policies of the bank and the bank deposit program in which the investor participates.
open companies
Turkey has an excellent work environment for those wishing to invest in this field. The Turkish work environment embraces labor with an infrastructure equipped with all services for transport and export, modern road and transportation networks, and various means of transportation.
The Turkish government is working to support start-ups and small companies with little capital, which amounts to about two thousand US dollars, which attracts many new investors and allows them to experience investment in an active economic environment, with a labor market open to all, and ensures fair competition.
Buying government bonds
Foreign investors in Turkey can invest in government bonds on the market, and the Turkish government is working to attract investors in this field by offering opportunities to obtain Turkish citizenship, provided that government bonds worth half a million dollars are purchased and not sold for three years.
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