Turkey's Wealth Amnesty Offers 20-Year Tax Exemption

On June 20, 2026, Turkey's Official Gazette announced the enactment of a new Wealth Amnesty program, providing significant tax incentives for individuals repatriating foreign assets. This initiative is part of Turkey's broader strategy to attract foreign investment and integrate unregistered assets into the formal economy.

Key Provisions of the Wealth Amnesty

• Tax Exemption Period: Individuals who have not been tax residents in Turkey for the past three years and choose to relocate will benefit from a 20-year income tax exemption on foreign-sourced income.
• Asset Declaration Deadline: Unregistered assets, both domestic and international, must be declared by July 31, 2027, to qualify for the amnesty.
• Tax Rates: Declared assets will be subject to a tax rate ranging from 0% to 5%, depending on the holding period.

Implications for Investors

This program is designed to encourage the repatriation of assets held abroad, enhance financial transparency, and stimulate economic growth. By offering long-term tax exemptions and favorable rates, Turkey aims to position itself as an attractive destination for international investors and high-net-worth individuals.

For more detailed information, refer to the official publication in the Official Gazette.