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written at 14-02-2020
category Latest news
Tax incentives ... Why Turkey is the best destination for real estate investment
The first thing that comes to the investors’ minds before investing in real estate in any country is the taxes. Low rates or current tax exemptions and incentives applied by any government, as in Turkey, can make a country more livable in terms of obtaining a higher return on investment, especially since tax rates directly affect your profits when buying real estate for sale or rent, In this article, we will give you a simple explanation of tax incentives in Turkey for an ideal real estate investment.
The Turkish government has taken huge steps when it comes to simplifying the taxes law, which makes it more in line with international standards, which makes Turkey more attractive to investors seeking to buy real estate in the country.
These steps have made the Turkish corporate tax legislation noticeably clear, and Turkey is now distinguished by the corporate tax rates that are considered simple and considered among the most competitive in the Middle East, which removes any legal obstacles that may discourage investors from buying real estate in Turkey and help pave the way towards an increase in foreign investment in the country, which is expected to reach amazing growth rates in the coming years.
These tax incentives will help explain why Turkey is the best destination for your real estate investment:
In January of 2017, the stamp duty was reduced, which is a specific fee to be paid when registering title deeds. From 0.948% (which the buyer was fully charged with) all the way to 0%.
According to decree of March 2017, the sale and purchase process of real estate emerging land registries, which are paid separately by both the seller and the buyer, have been reduced from 2% to 1.5%.
On March of 2017, the Turkish Parliament have passed a law that exempts investor from tax when owning a real estate property in Turkey, this law also includes Turkish citizens that have been working outside of Turkey for more than 6 months, this law also mentions that whoever buys a property for the purpose of establishing a project or a commercial company for foreigners is exempted from tax on the condition that the foreigner retains ownership of it for at least one year, while those looking to buy a property for sale directly do not benefit from the exemption.
These incentives help make the real estate market more appealing to investors, , and we at DEIDIN Real Estate and Investments, are one of these companies as we have strong partnerships with the major Turkish construction companies that have many and large projects in different regions of Istanbul and all the Turkish states "with the guarantee of the Turkish government", and we have a professional team that responds to all your inquiries through our website and all available means of communication, provides you with advice, informs you about the potential investment return for any real estate opportunity, land or project you wish to invest in, and also helps you in the necessary legal procedures to obtain the "Turkish citizenship" through real estate investment.
Article keywords
Tax incentives in Turkey, the Turkish government, real estate in Turkey, the real estate registry, the Turkish parliament, DEIDIN company, Turkish citizenship, with the guarantee of the Turkish government