Türkiye has unveiled a major financial incentive aimed at attracting global investors and foreign residents. President Recep Tayyip Erdoğan announced a new policy offering a 20-year tax exemption on foreign-source income and capital gains for foreign citizens relocating to the country.
The initiative is part of a broader economic strategy designed to position Türkiye as a competitive destination for international capital. By removing taxes on income earned outside the country, the government aims to encourage high-net-worth individuals and investors to bring their assets and financial activity into Türkiye.
One of the key objectives behind this move is to redirect capital flowing out of Gulf countries toward Türkiye. With increasing regional competition for investment, the policy seeks to offer a strong financial advantage that could make Türkiye more attractive compared to other destinations.
In addition to tax relief, the incentive package is expected to include supportive measures that simplify investment procedures and improve the ease of doing business. Authorities believe this will not only boost foreign direct investment but also strengthen Türkiye’s financial sector and overall economic growth.
Experts suggest that such long-term tax incentives could significantly enhance investor confidence, especially among individuals looking for stable and tax-efficient environments. However, the success of the policy will depend on implementation, economic stability, and how effectively Türkiye competes with other global financial hubs.
Overall, the 20-year tax exemption signals Türkiye’s clear intent to become a major player in attracting international wealth and investment in the coming years.
