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Turkey Announces 20-Year Foreign Income Tax Exemption for New Residents

According to the source, President Erdoğan unveiled an incentives package aimed at attracting global talent and capital by exempting foreign income from tax for 20 years.

Summary

Turkey is offering a 20-year tax exemption on foreign income for new residents under a newly announced incentives package, according to the source. The measure is presented as part of a broader effort by President Erdoğan to attract global talent and capital. Such tax incentives are commonly used by governments to encourage relocation, investment inflows, and business formation, although the source does not provide further implementation details, eligibility rules, or a timeline.

Terms & Concepts
  • Foreign income: Income earned outside a person’s country of residence, such as wages, dividends, or investment gains from overseas sources.
  • Tax exemption: A policy that removes certain income, assets, or activities from taxation, either fully or for a defined period.
  • Capital inflows: Money entering a country through investment, business activity, or asset purchases, often targeted by economic incentive programs.