Turkey’s 20-Year Tax Plan: The End of Dubai? (Analysis)
Turkey’s proposed 20-year exemption on foreign income is one of the most aggressive tax offers in the world right now. But tax rates alone don’t build strong structures. This video breaks down the banking reality, sovereign risk, and hidden costs founders need to understand before relocating.
Transcript excerpt
Turkey's actually proposing to put in a 20-year extension on foreign-earned income, and additionally, they want to put a potential 1% inheritance tax on top of that. That means obviously an amazing treatment for entrepreneurs and high-net-worth individuals. And if this passes in the current shape or form, Turkey would instantly become one of the most aggressive territorial tax jurisdictions anywhere in the world. And obviously, that doesn't really go unnoticed. However, we know from our experience that it's sometimes a mistake to look at tax rates in isolation only, and we're looking at the broader picture of a new jurisdiction. So, we're looking at how's the banking access, we're looking at institutional reputation of the jurisdiction, predictability, geopolitical stability is definitely one to look at here as well, and whether the global financial system will treat this new residency that you might obtain as credible or not.
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