RelocationTR Journal
Decisions start with understanding the context
Tax, banking practice, corporate structures and changes that affect business operations.
Moving to Turkey: residence, company setup and tax
Company News
Double taxation: how mutual agreement procedure works in Türkiye
How to check deadlines and prepare evidence when two countries dispute the taxation of a transaction.
27 October 2026
02
Business in Turkey
Exporting from Türkiye: checking costs and margins before accepting an order
Review production costs, currency exposure, capacity utilisation and buyer terms before confirming an export price.
27 October 2026
03
Taxes
Tax Notices in Türkiye: e-Tebligat and Accounting Oversight
Who checks the electronic inbox, confirms deadlines and records responses when running a Turkish company or changing accountants.
26 October 2026
04
Taxes
Türkiye’s 12.5% manufacturing tax rate from 2027: eligibility and outsourcing
Separate manufacturing profit, check the industrial registry certificate and review outsourced operations before using the 2027 rate in a business plan.
22 October 2026
05
Business in Turkey
Changing a shipping route to Türkiye: recalculating cost and cash timing
A replacement route changes more than freight. Review handling, insurance, contract terms and cash timing before agreeing to a shipment.
21 October 2026
06
Taxes
Türkiye’s 2027 budget proposal: tax revenue targets and company costs
Revenue targets do not establish a tax-rate increase. How to read VAT, refunds and withholding before using Türkiye’s 2027 budget figures in a business plan.
20 October 2026
07
Business in Turkey
Made in Europe and Turkish production: market access does not establish subsidy eligibility
The Franco-German automotive position is a policy proposal. Separate customs treatment, component origin and support eligibility before choosing a production site.
19 October 2026
08Business in Turkey
Türkiye extends the minimum share capital adjustment deadline to 31 December 2027
Existing Turkish companies have more time to meet minimum capital requirements. Check the registered amount, applicable system and increase process.
19 October 2026
09Taxes
Employee benefits in Türkiye: when the payment method changes the tax treatment
Meals, commuting and childcare: 2026 limits, payment conditions and the checks employers need before promising a benefits package.
16 October 2026
10
Banking
“Can you receive this payment for me?” A banking risk for businesses in Türkiye
A partner wants to collect revenue through your account. What MASAK’s guidance means for the receiving business and what to check before agreeing.
15 October 2026
11
Business in Turkey
Accounts Receivable Management: Why You Might Still Run Out of Cash
Discover why timely client payments don't guarantee cash availability. Learn to control outstanding debt before its due date and plan cash flows to avoid liquidity gaps, ensuring financial stability.
15 October 2026
12Business in Turkey
Investment in Türkiye: flows, disinvestment and the international investment position
How to read CBRT’s August data on inward FDI, equity withdrawals and the net international investment position before using them in a business plan.
15 October 2026
13
Business in Turkey
Selling on credit in Türkiye: set a customer exposure limit
How to assess unpaid deliveries, pending orders and cash-flow resilience before extending more trade credit.
15 October 2026
14
Banking
Turkish funds: first cash for investors, up to TRY 1 million per fund
The regulator approved an interim payment for liquidating funds of four asset managers, three managers will liquidate on their own, accounts for returning excess gains were opened and the brokerage Tera Yatırım was suspended. What is new, and our analysis.
2 October 2026
15
Taxes
Forgot to credit tax paid abroad? It can be fixed, but the deadlines are strict
Türkiye's Council of State has confirmed that an uncredited foreign tax can be fixed by filing a corrected return, which removes the basis for a tax payment demand. But double tax treaties do not lift the one-year documentation deadline or the three-year carry-forward limit.
1 October 2026
16
Company News
TMSF case: reviewing a factoring contract
A factoring-contract review after BDDK’s TMSF shareholder-rights announcement, with the decision’s scope clarified.
1 October 2026
17
Banking
Turkish funds: the crisis has reached banks, but not depositors
Türkiye's deposit insurance fund has taken control of three investment banks and two factoring companies linked to the fund investigation. Why depositors are not at risk, where the real exposure lies for counterparties, and what else changed this week.
1 October 2026
18
Legal Issues
Work permit exemption in Türkiye: applications move to a new system from 17 September
From 17 September 2026, work permit exemption applications are filed through calismaizni.csgb.gov.tr. What the exemption is, who qualifies, time limits and fees, and where companies bringing in foreign specialists most often go wrong.
30 September 2026
19Company News
Turkey updates the work permit exemption application system
From 17 September 2026, new exemption applications use calismaizni.csgb.gov.tr; earlier applications remain tracked in e-Muafiyet.
30 September 2026
20Company News
Funds: coordination board and seventh series update
A short announcement of the Turkish-funds series update, linking the coordination-board statement and the full article.
30 September 2026
21
Banking
Turkish funds: the state takes over coordination, while the crisis finds two new channels
A Fund Coordination Board chaired by the Vice President has been created and the regulator presented a payout plan with no date. Outflows reached pension funds, and the first default outside the funds themselves occurred. What is new this week, and our analysis.
30 September 2026
22
Business in Turkey
FX conversion support in Türkiye: new rules from 1 October, and informal payroll now shrinks your limit
From 1 October 2026 Türkiye's central bank drops the no-FX-purchase commitment, introduces a 10% FX position threshold and ties supported FX sales to the company's value added: operating profit as reported to the tax authority plus payroll as recorded by social security.
29 September 2026
23
Taxes
Cash Amnesty and Account 296: Unexpected Dividend Tax After 3 Years
Learn how Turkey's 2023 cash amnesty could lead to unexpected dividend tax due to closing account 296 with retained earnings. We explore solutions to this common pitfall.
28 September 2026
24
Taxes
Cash amnesty and account 296: how closing a "temporary" difference turned into dividend withholding tax
Companies that used Türkiye's cash amnesty often parked the difference in temporary account 296 and later closed it against retained earnings. Danıştay has ruled that a profit distribution subject to withholding. What to do in each of three situations.
28 September 2026
25
Business in Turkey
The toxic asset: why a problem tenant in Türkiye can turn a rental into a years-long loss
Turkish law protects tenants strongly: a lease ending does not by itself allow eviction, and a full court cycle for non-payment can take 1.5 to 3 years. How to structure your lease and eviction commitment correctly.
25 September 2026
26
Legal Issues
Real Estate Investments: Risks of Problematic Tenants
Learn about the risks associated with problematic tenants when renting out property and why you should factor in a no-income scenario for the asset in your financial model.
25 September 2026
27
Legal Issues
Toxic Tenant in Turkey: Risks and Eviction Peculiarities
Learn why a problematic tenant in Turkey can lead to years of losses. This article describes the specifics of Turkish law, eviction procedures, and risks for investors, highlighting the strong protections afforded to renters.
25 September 2026
28
Taxes
The tax audit preparation file: a new system that can decide whether you pay a penalty at all
Since August 2026 Türkiye's tax authority has run an electronic audit-preparation system based on the international SAF-T standard. When the letter arrives determines whether voluntary-correction penalty protection is even available.
24 September 2026
29
Banking
A payment licence revoked, an insurer's assets frozen: September's clean-up of the financial perimeter continues
Türkiye's central bank has revoked the licence of Papel Elektronik Para, and the insurance regulator has frozen all of Doğa Sigorta's monetary assets across every bank in the country. Neither is directly tied to the fund crisis, but both continue the month's pattern: if you deal with a non-bank Turkish financial institution, check its regulatory standing.
24 September 2026
30
Banking
Two new pressure points: broker bond redemptions and record margin leverage
124 broker bond issues worth 3.2 billion lira are coming due, and their biggest buyers were the money market funds that just collapsed. Exchange margin leverage has hit a record high. How companies holding units in liquidating funds should treat the loss for tax purposes.
24 September 2026
31
Taxes
Transfer pricing: VAT and corporate tax now run on separate tracks
Türkiye's top tax appeals panel has ruled that the "treasury loss" condition in transfer pricing applies only to corporate tax, not to VAT on the same transaction. What this means for international corporate groups.
23 September 2026
32
Legal Issues
The tax office tries to buy itself extra years: what Türkiye's top court exposed on the statute of limitations
Türkiye's top administrative court has ruled unlawful a practice where, just before the five-year statute of limitations expired, tax authorities formally referred a case to the Appraisal Commission simply to stop the clock. How the scheme worked and when a reassessment can be challenged on limitations grounds alone.
23 September 2026
33
Banking
The fund crisis reaches the real economy: margin calls on share-backed loans
Companies that borrowed against pledged shares are getting margin calls as prices fall, and are selling assets regardless of price to meet them. Why this pressure may outlast the fund liquidation itself, and what businesses with such loans should do.
23 September 2026
34
Taxes
The company is profitable but the owner declares nothing: inside Türkiye's high-income monitoring programme
Audit coverage of large taxpayers rose from 11% to 31.3%. The monitoring programme covers 16,307 individuals and 48.7 billion lira of additional tax base. What the system cross-checks, why undistributed profit became a risk flag, and how to build a legal income channel for the owner.
22 September 2026
35
Banking
Liquidation extended to six months: the outflow spread beyond the seven firms
The regulator doubled the liquidation window for 131 funds from three to six months, three days after setting it. Money market funds lost 313.7 billion lira in a week, including bank-affiliated funds. What changed in our assessment, and where the money went.
22 September 2026
36
Legal Issues
Turkish Citizenship Annulment: How to Verify Transaction Legality
Learn why Turkish citizenship, obtained through real estate purchases, can be annulled. Understand which documents prove the legitimacy of your transaction and what the state scrutinizes during checks.
22 September 2026
37
Legal Issues
Turkish citizenship revoked for 6,134 people: what the audit found and how to check your file
Türkiye's Interior Ministry revoked citizenship of 1,413 investors and their families over sham property deals: inflated valuations and currency that never entered the country. Who is at risk, and the three documents to check in your own file.
22 September 2026
38
Banking
Turkish fund crisis: what changed in four days and what it means
The liquidation of 131 funds now has executors and a three-month horizon, MSCI has repeated its warning, and the investigation has reached crypto transfers. What this changes for unit holders and why the main risk has moved to November: our analysis.
21 September 2026
39
Banking
Iranian bank in Turkey: why the licence was revoked
Why an Iranian bank in Istanbul was shut down despite its Turkish licence, what happens to client money, and which payment routes work instead.
21 September 2026
40
Business in Turkey
Turkish funds: investor payouts and business working capital
What official announcements establish about fund payouts and the liquidation bill, and how a business can assess cash available for operating payments.
20 September 2026
41Company News
Turkey investment fund crisis, September 2026: what happened, who is affected and what an investor should do
Redemption defaults, a 6% single-day drop in BIST 100, forced liquidation of 130 funds and criminal cases. A source-based account of the episode and the only question that matters: does this affect you.
20 September 2026
42
Legal Issues
Bordro in Turkey: reconciling payroll documents
What to reconcile in the bordro, bank evidence and MUHSGK; the VUK receipt exception and the fine for a specific bank-payment offence.
18 September 2026
43Taxes
Turkey payroll payslip (bordro): mandatory fields for foreign employers
For a foreign employer with staff in Turkey, the payslip, the bank credit and the MUHSGK filing must describe the same person and the same month. Mandatory fields and the three-employee bank-pay rule from 1 July 2025.
18 September 2026
44Taxes
R&D or donations on the Turkish corporate return: which line burns the deduction
Donations expire in the year. R&D carries forward and is revalued. The tax office form puts R&D first. Three Danıştay judgments put donations first. The order is a live dispute, not a spreadsheet preference.
18 September 2026
45Taxes
Limited taxpayer in Turkey: what foreign corporate income actually enters the base
Which income items of a foreign company with no seat in Turkey enter the corporate-tax base, and when an export purchase creates no Turkish business profit.
18 September 2026
46
Taxes
Stopaj and annual KV: checking a foreign company’s Turkish filing obligations
Separating withholding and corporate returns: checking income type, filing period, minimum tax and supporting documents.
17 September 2026
47
Taxes
No Turkish Office, No Annual Corporate Tax Return. If There Is a PE, It Is a Different Story
A practical note on where Turkish withholding tax for a foreign company ends and an annual corporate tax return begins because of a permanent establishment or dependent agent.
17 September 2026
48
Business in Turkey
UAE, Georgia, Kazakhstan or Türkiye: How to Compare Relocation Jurisdictions
A working method for comparing jurisdictions: tax on your actual income stream, banking acceptance, substance, annual cost and timelines.
16 September 2026
49
Legal Issues
Moving to Turkey: Residence Permits, Turkish Citizenship by Investment and Tax
What to check before moving to Turkey: residence permit routes, Turkish citizenship by investment conditions (USD 400,000 in real estate, 3-year hold) and tax residency.
15 September 2026
50
Business in Turkey
Company Registration in Kazakhstan and the AIFC: Which to Choose
A standard LLP or a company in the Astana International Financial Centre: differences in law, tax, substance and cost.
15 September 2026
51
Business in Turkey
Moving to Kazakhstan: Business, Tax and Banking Basics
What to consider when moving a business to Kazakhstan: company forms, tax rates, bank compliance and residency questions.
14 September 2026
52
Taxes
Partner Funding in a Loss-Making Company: How to Avoid Taxes in Türkiye
Learn how the owner of a loss-making company in Türkiye faced corporate tax on personal transfers meant to cover payroll. Understand why Article 376 of the Turkish Commercial Code matters and how to properly document capital replenishment to avoid double losses.
14 September 2026
53
Taxes
Partners Covering Corporate Losses with Personal Funds: When It Triggers Taxable Income and When It Does Not
Partners' funds injected to cover company losses are tax-exempt only if backed by an Article 376 TTK resolution adopted before the transfer. Without it, tax authorities treat them as taxable income (ruling of July 7, 2026). We analyze the proper procedure, common errors, and alternatives.
14 September 2026
54
Banking
Banking in Georgia for Foreign-Owned Companies: What Banks Check
What Georgian banks ask for when opening an account, why applications are refused, and how to prepare an activity and source-of-funds file.
13 September 2026
55
Legal Issues
Moving to Georgia: Residence Permits and Tax Residency
Grounds for a Georgian residence permit, the 183-day rule, tax resident status and what to close off in your previous country.
12 September 2026
56
Business in Turkey
Company Registration in Georgia: Process, Taxes and Banking
How registering an LLC in Georgia works, what the distributed-profit tax model means in practice, and what banks ask for.
11 September 2026
57
Business in Turkey
Dubai or Istanbul: How to Choose an Operating Base
A comparison of the UAE and Türkiye on tax, banking acceptance, running cost and market access — from a structuring perspective.
10 September 2026
58
Taxes
Is VAT Included in the Base for Tapu Harcı and Stamp Tax? No, and It Leads to Overpayments
The land registry fee and stamp tax are calculated on the net price excluding VAT: this is confirmed by law, Ministry of Treasury and Finance guidance, and Danıştay precedent. Yet the land registry does not inform the parties, and on a 10 million lira property, the overpayment can reach 100,000 lira. We explain the legal rule and how to recover the excess.
10 September 2026
59
Legal Issues
UAE Residence Visa Options for Business Owners
Investor, employment and long-term UAE visas: what each route requires from the company and how it relates to tax residence.
9 September 2026
60
Business in Turkey
Business Setup in Dubai: Structure, Cost and Compliance
Mainland or free zone, licences, substance requirements, tax registration and the real cost of maintaining a UAE company.
8 September 2026
61
Legal Issues
A Holding Company in Türkiye or Kazakhstan: Which to Choose for Your Business
Discover the advantages of Türkiye and Kazakhstan for setting up a holding structure. Learn how to choose jurisdictions for operating activities and asset management by leveraging the core strengths of each.
7 September 2026
62
Business in Turkey
Moving to Dubai: What Founders Should Review First
What actually changes when a founder moves to Dubai: company jurisdiction, tax residence, banking, staffing and reporting duties.
7 September 2026
63
Taxes
Reinstatement of Diesel ÖTV: Full Schedule Through January 2027 and Implications for Business
Starting September 1, 2026, Türkiye began the phased reinstatement of ÖTV on diesel. We break down Presidential Decision No. 11606: the exact timetable of increases through January 2027, the real per-liter pump impact factoring in VAT, and why the tax component of fuel costs is now predictable four months ahead.
4 September 2026
64
Business in Turkey
Remote Opening of Brokerage and Crypto Accounts in Türkiye: Changes from September 3, 2026
Learn about the new procedure for remote identification of foreign clients in Türkiye, introduced on September 3, 2026. Non-residents can now open brokerage and crypto accounts without an in-person visit using an NFC-enabled biometric passport. The article outlines the technical requirements and verification steps.
4 September 2026
65
Taxes
Teknokent Exemption: The Hidden Condition Many Are Unaware Of
Learn about the non-obvious Teknokent exemption requirement that cost an IT company part of its tax privileges. Read on to discover how to avoid losing 20% of your exemption.
3 September 2026
66
Taxes
Türkiye’s 20-year foreign income exemption: address records, evidence and filing
A Turkish address record does not necessarily exclude relief. Review the three preceding calendar years, distinguish rental income from salary and establish the settlement date before filing.
2 September 2026
67
Company News
RelocationTR at Astana Finance Days 2026: An Inside Look
On September 9–10, we attended Astana Finance Days in Astana. A brief overview of why we attended and the key questions raised by entrepreneurs with Turkish structures.
28 August 2026
68
Company News
One of Our Clients Has Already Opened Their First Office and Will Soon Install an ATM
One of our clients has already opened their first office and will soon install an ATM.
28 August 2026
69
Taxes
🚫 Our client wanted to sell his company in six months. I told him:...
🚫 Our client wanted to sell his company in six months. I told him: then do not do the conversion now, or postpone the deal. He was surprised, because "everyone does it that way." The situation: the owner of an Ltd. spent twelve years building his business...
28 August 2026
70
Business in Turkey
🚢 Transit Trade via Türkiye: Effective Tax of ~1.25%, and Zero in İFM
🚢 Transit Trade via Türkiye: Effective Tax of ~1.25%, and Zero in İFM. A fair disclaimer, as always. The tax door has opened, but the banking door remains firmly in place: transit flows are a classic focus of compliance scrutiny.
16 July 2026
71
Taxes
⚠️ A Tax Incentive That Can Be Revoked Retroactively: The Risk of Investment Incentives in Türkiye
⚠️ A Tax Incentive That Can Be Revoked Retroactively: The Risk of Investment Incentives in Türkiye. A brief but vital warning for anyone utilizing investment tax incentives in Türkiye. An incentive
14 July 2026
72
Taxes
⏰ Tax Debt in Türkiye Can Be Spread Over 72 Months at 29%: A Month and a Half Remains
⏰ Tax debt in Türkiye can be spread over 72 months at 29%: a month and a half remains. A practical reminder for anyone with an outstanding tax debt. An installment plan under notably relaxed terms is available
14 July 2026
73
Business in Turkey
📊 Türkiye Attracts $12B in Investment Annually. Why This Figure Is Deceptive
📊 Türkiye attracts $12B in annual investment. Why this figure is deceptive: A new global investment report has been released, providing a timely opportunity to examine Türkiye's real standing in the global competition for capital. While $12B looks respectable...
9 July 2026
74
E-commerce
Why Türkiye Is More Advantageous than the UAE
Logistics, manufacturing, taxes, and banking: comparing Türkiye and the UAE for an e-commerce seller.
8 July 2026
75
E-commerce
Russian Business Enters the Market
The path to the Turkish e-commerce market for Russian businesses has already been paved by dozens of companies from adjacent industries.
8 July 2026
76
E-commerce
How Much Does Launching Cost?
A comprehensive cost estimate for launching an e-commerce business in Türkiye: company registration, bank account, accounting, and warehousing.
8 July 2026
77
E-commerce
How to Start a Business
Five steps from company incorporation to warehousing: an e-commerce seller's journey into the Turkish market.
8 July 2026
78
E-commerce
Kazakhstan as a Secondary Market for the Same Sellers
The AIFC serves as a logical second step for a seller that has already refined its processes in the Turkish market.
8 July 2026
79
E-commerce
Mistakes Made by Russian Sellers
10 common mistakes frequently made by Russian sellers when entering the Turkish market.
8 July 2026
80
E-commerce
What Sells Best
Apparel, electronics, cosmetics: the structure of demand on Turkish marketplaces and where to find the best margins.
8 July 2026
81
E-commerce
Where to Source Products
China, Türkiye, or Europe: the rationale behind choosing a sourcing channel when entering the Turkish market.
8 July 2026
82
E-commerce
Who Controls the Market
Trendyol, Hepsiburada, Amazon Türkiye: the balance of power in the Turkish e-commerce market has shifted noticeably over the past year.
8 July 2026
83
E-commerce
Why Everyone Is Talking About Türkiye
Türkiye's e-commerce market expanded to 4.57 trillion TRY in 2025, up 52.2% year-on-year. We break down the scale, pace, and penetration rates.
8 July 2026
84
E-commerce
Why the Market Began to Change Rapidly
Alibaba and Trendyol, Kaspi and Hepsiburada: major capital has already placed its bet on Turkish e-commerce.
8 July 2026
85
E-commerce
Technoparks and Tax Incentives for E-Commerce and IT
What a Turkish technopark actually offers, who qualifies, and at what turnover threshold it becomes cost-effective.
8 July 2026
86
Taxes
🧭 Non-Dom in Türkiye: A Powerful Tool, but Not a Safe Haven
🧭 Non-Dom in Türkiye: A powerful tool, but not a safe haven. Frankly, without rose-tinted promises. It is fashionable right now to market Türkiye as a tax haven for relocation. I do not do this because it is a half-truth, and...
8 July 2026
87
Business in Turkey
🌟 Kazakhstan as a Rising Star: Why the Axis with Türkiye Is Now Serious
🌟 Kazakhstan as a Rising Star: Why the Axis with Türkiye Is Now Serious. In recent years, Kazakhstan has evolved from a country of cultural ties into a key economic hub of Eurasia, and for business...
28 June 2026
88
Business in Turkey
🏦 62% of Turkish Money Abroad Flows into Holdings: What This Reveals
🏦 62% of Turkish money abroad flows into holdings: what this reveals. The issue is not only WHERE Turkish business moves money, but also in WHAT form. And the form speaks volumes. What the data shows:
27 June 2026
89
Business in Turkey
⏰ July 1 Deadline: Paper Invoices (Fatura) in Türkiye Turn into Fines
⏰ July 1 Deadline: Paper Invoices (Fatura) in Türkiye Turn into Fines. Urgent and crucial for anyone doing business in Türkiye. By July 1, 2026, all companies with a 2025 turnover of 3 million lira or more are required to transition
26 June 2026
90
Banking
Kazakhstani Giant Enters Türkiye's Banking Sector: The Kazakhstan-Türkiye Corridor in Action
Kazakhstani Giant Enters Türkiye's Banking Sector: The Kazakhstan-Türkiye Corridor in Action. This transaction clearly illustrates how the Kazakhstan-Türkiye axis functions. Kazakhstan-based Kaspi.kz has secured approval from the Turkish banking regulator (BDDK)...
25 June 2026
91
Taxes
💸 Why Both Employees and Employers Are Dissatisfied in Türkiye: The Arithmetic of the Tax Wedge
💸 Why Both Employees and Employers Are Dissatisfied in Türkiye: The Arithmetic of the Tax Wedge. The paradox of the Turkish labor market: the employee feels their salary melting away, while the employer feels labor has become unbearably expensive.
24 June 2026
92
Business in Turkey
🏠 Real Estate in Türkiye in 2026: Growing in Lira, Falling in Reality...
🏠 Real Estate in Türkiye in 2026: Growing in Lira, Falling in Reality, and Yields Aren't Where It Looks Pretty. A fresh housing market snapshot useful for anyone investing, relocating, or selecting a property for citizenship
23 June 2026
93
Business in Turkey
🌍 Turkish Capital Sets an Outbound Record, and the Geography Reveals the Whole Story
🌍 Turkish capital sets an outbound record, and the geography reveals the whole story. Fresh data from the Ministry of Trade: cumulative direct investments by Turkish residents abroad have reached a record high, totaling approx.
22 June 2026
94
Business in Turkey
🪦 The Turkish School of Management: How to Confidently Sink Your Business — Harmful Advice
🪦 The Turkish School of Management: How to Confidently Sink Your Business — Harmful Advice. Let me shift the topic for a moment from taxes and macroeconomics to what I see constantly in my day-to-day work. Building a business in Türkiye is tough: uncertainty, expensive capital, exchange rate pressures, and fierce competition hit all at once.
19 June 2026
95
Business in Turkey
🚗 BYD Freezes Factory in Türkiye (Manisa) and Chooses Hungary: An Objective Breakdown
🚗 BYD freezes factory in Türkiye (Manisa) and chooses Hungary: an objective breakdown. The news of the week for anyone considering Türkiye as a manufacturing hub. BYD has officially put the Manisa plant project ($1
15 June 2026
96
Taxes
💰 Capital Amnesty (Varlık Barışı) 2026: Zero Tax and No Audit, but There Is a Catch
💰 Capital Amnesty (Varlık Barışı) 2026: Zero tax and no audit, but there is a catch. Since June 4, Türkiye has introduced a capital amnesty under Law No. 7582, offering a direct mechanism to regularize assets under unusually generous terms.
11 June 2026
97
Taxes
🤖 Turkish Tax Authority Launches AI to Show Your Company's Risk Score Ahead of Audits
🤖 Turkish Tax Authority Launches AI to Show Your Company's Risk Score Ahead of Audits Fresh and vital updates for anyone running a company or sole proprietorship in Türkiye. The Tax Inspection Board (VDK) is launching the Bilinç AI platform this year...
10 June 2026
98
Taxes
💼 Restructuring Tax Debts in Türkiye: Installments up to 72 Months
💼 Restructuring Tax Debts in Türkiye: Installments up to 72 Months. The tax debt restructuring law has been adopted by the Meclis and enters into force upon publication in the Official Gazette. In our assessment...
22 May 2026
99
Taxes
İFM vs DMCC vs Cyprus: Where Foreign Traders Can Pay 0% Corporate Tax in 2026
A practical case study: how a foreign beneficiary relocated from DMCC to Istanbul and then to İFM, securing $250K in annual corporate tax savings on a $25M turnover with a 3–4 month payback period.
4 May 2026
100
Business in Turkey
🏢 Istanbul Commercial Real Estate 2026: Who Wins and Who Loses
🏢 Istanbul Commercial Real Estate 2026: Who Wins and Who Loses. Commercial real estate is one of the best indicators of real consumer demand. A recent Cushman & Wakefield report...
4 May 2026
101
Business in Turkey
🌍 Dubai Is Losing Its Monopoly: Three Routes for Capital and Istanbul's Place on the Map
🌍 Dubai Is Losing Its Monopoly: Three Routes for Capital and Istanbul's Place on the Map There is no panic in the market. Nor is there a mass exodus from Dubai. But something important is happening: international investors have begun asking...
1 May 2026
102
Company News
⏰ Today, April 30, is the deadline for filing the return and paying...
⏰ Today, April 30, is the deadline for filing the return and paying corporate income tax for the 2025 tax year. 📋 Who files the return today Corporate income tax taxpayers include: 🔹 Joint-stock
30 April 2026
103
Legal Issues
Company Formation in Turkey: Legal Structure, Compliance and Taxes
A practical guide to company formation in Turkey for foreign founders: choosing the legal form, registration steps, KVKK compliance, employment rules, tax incentives and contracts.
30 April 2026
104
Taxes
Türkiye's New Tax Positioning: İFM, Non-Dom Status, and 20 Years of Predictability
Türkiye has unveiled its most ambitious tax positioning in a decade: tax rates matching Singapore and Hong Kong, a 20-year guarantee of predictability, a non-dom regime for individuals, and full tax exemptions for transit trade in the Istanbul Financial Center (İFM). We examine who actually benefits from this framework.
29 April 2026
105
Legal Issues
⚖️ Part 1. The Legal Foundation of a Startup in Türkiye: Structure, Brand, IP
⚖️ Part 1. The Legal Foundation of a Startup in Türkiye: Structure, Brand, IP. In our assessment, most problems that destroy startups in Türkiye are related neither to the market nor to the product. They arise...
28 April 2026
106
Taxes
Türkiye’s New Tax Package: Transit Trade Outside İFM Granted 95% Exemption for the First Time...
Türkiye’s new tax package: Transit trade outside the İFM receives a 95% tax exemption for the first time, and the "20-year tax holiday" regime for HNWIs presents the strongest offering in the global market.
27 April 2026
107
Taxes
Minimum Corporate Income Tax in Türkiye: What Is Deductible and What Is Not
Minimum Corporate Income Tax in Türkiye: What Is Deductible and What Is Not. Starting in 2025, Türkiye has implemented a new instrument—the domestic minimum corporate income tax (Yurt içi asgari kurumlar vergisi).
24 April 2026
108
Business in Turkey
📊 Large Enterprises Account for 62% of Turkish Services Exports: What This Means for You
📊 Large Enterprises Account for 62% of Turkish Services Exports: What This Means for You. The Turkish Statistical Institute (TÜİK) has published international trade in services data for 2024. Behind the dry figures lies a critical pattern for foreign businesses.
23 April 2026
109
Business in Turkey
🌍 Türkiye as an Operational Diversification Hub: What Corporations See in Spring 2026
🌍 Türkiye as an Operational Diversification Hub: What Corporations See in Spring 2026 The war in the Middle East is not forcing companies to abandon the Gulf. However, it is forcing them to rebalance their footprint. According to our
22 April 2026
110
Business in Turkey
🏭 Leaders of Turkish Machinery Manufacturing 2025: Who to Build Business With in Türkiye
🏭 Leaders of Turkish Machinery Manufacturing 2025: Who to Build Business With in Türkiye. The Machinery Exporters' Association of Türkiye (MAİB) has published its ranking of leading companies based on the results of 2025. For our clients
21 April 2026
111
Business in Turkey
🌍 Foreign Capital in the Turkish Services Economy: Where It Truly Dominates
🌍 Foreign Capital in the Turkish Services Economy: Where It Truly Dominates. In our assessment, these figures serve as a valuable indicator of where foreign business in Türkiye has already secured a foothold and where local players maintain dominance.
20 April 2026
112
Business in Turkey
🚀 Dijitalpark Teknokent: $75 Million in Exports in 3 Years — A Case Worth Examining
🚀 Dijitalpark Teknokent: $75M in exports in 3 years — a case worth examining. Technoparks (Teknokent) in Türkiye are among the most effective tax instruments for foreign IT businesses, and recent data from Dijitalpark Teknokent confirms this.
17 April 2026
113
Business in Turkey
Is Türkiye Capable of Capturing Capital Fleeing the Middle East?
Is Türkiye capable of capturing capital fleeing the Middle East? 💡 The Real Strategy Türkiye should not copy Dubai. Its opportunity lies in offering a unique combination: a massive domestic market
17 April 2026
114
Business in Turkey
💡 What to Look for When Valuing a Company?
💡 What to look for when valuing a company? When analyzing a Turkish business—whether for M&A, a partnership, or buying shares on the BIST—the "revenue growth" line is no longer an indicator of success. Two metrics that matter...
16 April 2026
115
Taxes
The KURGAN Algorithm: How the State Shifted to Predictive Business Auditing
The KURGAN Algorithm: How the State Shifted to Predictive Business Auditing. The Turkish Tax Inspection Board (VDK) has officially shifted its paradigm. On-site visits are no longer necessary to uncover violations.
15 April 2026
116
Taxes
Total Compliance 2026: AI, SGK Audits, and New Red Flags for Business
Total Compliance 2026: AI, SGK Audits, and New Red Flags for Business In spring 2026, the Tax Inspection Board (VDK) and the Social Security Institution (SGK) began working in tandem—leveraging artificial intelligence for cross-data analysis...
14 April 2026
117
Taxes
💰 How to Legally Withdraw Funds from a Turkish Company: Huzur Hakkı vs. Dividends
💰 How to Legally Withdraw Funds from a Turkish Company: Huzur Hakkı vs. Dividends. The Turkish Tax Inspection Board (VDK) is auditing founders whose lifestyles do not match their declared income. Buying real estate, cars...
13 April 2026
118
Business in Turkey
Relocation in Istanbul for Business: Structure, Tax and Banking
A practical guide to relocation in Istanbul for founders and international companies: choosing a legal structure, planning tax and banking arrangements, and managing the move without assuming guaranteed approvals.
10 April 2026
119
Taxes
🚪 A Knock at the Door: How to Survive a Tax Audit in Türkiye Without Talking Yourself into Penalties
🚪 A Knock at the Door: How to Survive a Tax Audit in Türkiye Without Talking Yourself into Penalties. You have been summoned to provide explanations (izaha davet) or scheduled for a full tax audit. ⚠️ A tax audit is not a friendly chat.
9 April 2026
120
Taxes
Tax Deadline 2026:
Tax Deadline 2026: In Türkiye, the filing season for corporate income tax (Kurumlar Vergisi) returns for 2025 has begun. All joint-stock companies and LLCs must file by April 30, 2026.
8 April 2026
121
Business in Turkey
How to Prepare a Company for an M&A Sale in Türkiye
How to prepare a company for an M&A sale in Türkiye: why exit strategy is a core element of business development, the discipline of sellability, EBITDA multiples, and dealing with country risk.
7 April 2026
122
Business in Turkey
“Chinese Tourists” with Suitcases of Machine Tools: How Visa Waiver Hits Turkish Industry
The visa-free regime has opened Türkiye to far more than a wave of tourism. We examine how this policy works against Turkish manufacturing plants and what it means for those considering the country as a production hub.
6 April 2026
123
Taxes
Tax Audit Notices to 16,500 Company Owners: How to Legally Withdraw Nearly 4 Million TRY at 0%
Around 16,500 Turkish company owners have received official letters requesting explanations. We break down what is happening and examine the legal mechanism that allows business owners to withdraw nearly 4 million TRY from a company at a zero-percent tax rate.
3 April 2026
124
Banking
Investor's Guide: How to Buy Gold Correctly in Türkiye (and Avoid Losing Money on Hidden Fees)
Investor's Guide: How to Buy Gold Correctly in Türkiye (and Avoid Losing Money on Hidden Fees). If you have decided to convert part of your savings into gold, an unpleasant surprise awaits: HOW you buy it determines your real profit.
3 April 2026
125
Business in Turkey
Trade Trap 2026: The 1996-Era Customs Union with the EU...
Trade Trap 2026: The 1996-era Customs Union with the EU has turned into a tool that strangles Turkish business. Let us analyze the mechanics of this economic injustice and understand how
2 April 2026
126
Business in Turkey
Anatomy of Failure: The Main "Killers" of Family Businesses
Anatomy of Failure: The Main "Killers" of Family Businesses. The average lifespan of a family-owned company in Türkiye is 25–30 years. ☠️ 1. If a company closes down before handing over operations to the grandchildren, the cause...
1 April 2026
127
Taxes
New Tax Rules Have Come into Effect in Türkiye
New tax rules have entered into force in Türkiye. Income Tax: New Brackets. The progressive tax scale has been updated for employees and freelancers. The widening of the tax brackets is a positive development...
30 March 2026
128
Business in Turkey
"Concrete Gold" Has Cracked: Is Buying Buy-to-Let Apartments in Türkiye Worth It in 2026?
"Concrete Gold" Has Cracked: Is Buying Buy-to-Let Apartments in Türkiye Worth It in 2026? Summary for the 2026 Investor: Buying an apartment in Türkiye today makes sense only for personal residence
25 March 2026
129
Company News
Here is a tough yet brutally honest demographic analysis by Ussal Sahbaz...
Here is a tough yet brutally honest demographic analysis by Ussal Sahbaz. While politicians and social media debate how to raise the birth rate in Türkiye, the author suggests moving past unique Turkish excuses.
21 March 2026
130
Business in Turkey
The Major Risk of 2026: The "Quiet Death" of the Real Sector and the Ghost of the 2027 Elections
The Major Risk of 2026: The "Quiet Death" of the Real Sector and the Ghost of the 2027 Elections. Executive Summary for Business: In 2026, do not fear exchange rate volatility—fear cash flow gaps. Your strategy: Maximize...
20 March 2026
131
Business in Turkey
🏛 Types of Family Offices: Which Format Fits Your Dynasty?
🏛 Types of Family Offices: Which Format Fits Your Dynasty? Family wealth management is not a one-size-fits-all solution. Depending on asset volume, privacy requirements, and budget, four primary Family Office models stand out...
12 March 2026
132
Business in Turkey
🏛 A Personal Central Bank for Your Dynasty
🏛 A Personal Central Bank for Your Dynasty: A Family Office is not merely an attractive name for private bookkeeping. It is a dedicated structure established to manage the affairs of one or several affluent families.
6 March 2026
133
Business in Turkey
Türkiye 2026: The Latin American Inequality Model and the Failure of the Cheap Labor Bet
TÜİK's 2024 income distribution data shatters the conventional view of the Turkish labor market. We examine which inequality model Türkiye is drifting toward and why the cheap labor strategy failed.
5 March 2026
134
Taxes
Exit Strategy / Tax Structuring Alert
Exit Strategy / Tax Structuring Alert. Transforming an LLC into a Joint-Stock Company: How to Avoid Falling into a Tax Trap When Selling a Business? In Türkiye, there is a popular tax optimization strategy: converting a Limited Şirketi into an Anonim Şirketi before selling equity stakes...
2 March 2026
135
Taxes
Türkiye's Financial Army: Who Are the SMMMs and YMMs?
Türkiye's Financial Army: Who Are the SMMMs and YMMs? Examining the hierarchy, powers, and challenges of those who manage taxes for Turkish businesses. 👇 Anatomy of the profession: 📊 1. Statistics: The actively practicing are fewer...
2 March 2026
136
Business in Turkey
Family Business in Türkiye: Why Do Only 4% of Companies Survive to the Grandchildren?
Family businesses account for 95% of Türkiye's economy and serve as the nation's backbone. However, data from TAİDER reveals that only 4% make it to the third generation. We break down the key survival rules and the cost of commingling personal and corporate finances.
1 March 2026
137
Business in Turkey
Inflation Forecast 2026: Why the Central Bank Is Missing the Mark and How to Profit from It?
Inflation Forecast 2026: Why the Central Bank Is Missing the Mark and How to Profit from It? Everyone is discussing how the Turkish Central Bank is desperately attempting to "choke off" consumer demand with high interest rates and
1 March 2026
138
Banking
Credit Cards Under the Knife: How the CBRT’s New Restrictions Will Hit Turkish Retail
Credit Cards Under the Knife: How the CBRT’s New Restrictions Will Hit Turkish Retail We have already discussed the paradox of the Turkish Central Bank: verbally, the regulator is preparing to cut the policy rate, but in practice —
1 March 2026
139
Taxes
Which Exchange Rate Should You Use? A Guide to Foreign Exchange Operations 2026
Which exchange rate should you use? A guide to foreign exchange operations 2026. In Türkiye, there is a legal distinction between "Efektif" (cash) and "Döviz" (non-cash), and different Central Bank (TCMB) rates apply to different taxes (
27 February 2026
140
Business in Turkey
Expat Guide: How a Foreigner Can Open a Brokerage Account in...
Expat Guide: How can a foreign national open a brokerage account in Türkiye and purchase equities on Borsa İstanbul? We have already explored why foreign capital is entering the Turkish market and which sectors are set to grow.
25 February 2026
141
Banking
Investor's Cheat Sheet: Top 3 Borsa Istanbul (BIST) Sectors Being Snapped Up by Foreign Investors
Investor's Cheat Sheet: Top 3 Borsa Istanbul (BIST) Sectors Being Snapped Up by Foreign Investors. When international credit rating agencies upgrade Türkiye's sovereign credit rating, capital pours into Borsa
23 February 2026
142
Business in Turkey
Housing Crisis 2026: Why Has Rent in Türkiye Spiraled Out of Control?
Housing Crisis 2026: Why Has Rent in Türkiye Spiraled Out of Control? Surging rent prices in Türkiye have ceased to be merely an "economic news item" and have turned into the country's #1 social problem. Experts call
22 February 2026
143
Business in Turkey
Real Estate 2025: We Have Prepared Two Analytical Articles for Our Readers...
Real Estate 2025: We have prepared two analytical articles for our readers to help buy or sell. The growth driver has been a change in ownership: foreigners who acquired citizenship are exiting their assets, and
20 February 2026
144
Business in Turkey
Real Estate 2026: Foreigners Dumping Properties at Half Price
Real Estate 2026: Foreigners Dumping Properties at Half Price 🎯 BRIEF SUMMARY FOR INVESTORS In 2026, there is no point in visiting a developer's sales office in Istanbul looking for completed housing. The 2026 strategy:
19 February 2026
145
Business in Turkey
How Are Millionaires Covertly Moving Money Out of Türkiye in 2026?
How are millionaires covertly moving money out of Türkiye in 2026? The 3 primary schemes through which billions of dollars are flowing out of Türkiye right now, bypassing official scrutiny. 🏢 1. Offshore camouflage
18 February 2026
146
Banking
The Deposit Trap: Where Is "Smart Money" Flowing in Türkiye in Spring 2026?
The Deposit Trap: Where Is "Smart Money" Flowing in Türkiye in Spring 2026? 💡 Summary for the 2026 Investor: The strategy of "sitting on deposits and doing nothing" is ceasing to work. Yes, deposits are still...
16 February 2026
147
Taxes
Türkiye. Severance Pay (Kıdem Tazminatı) 2026: Complete Guide
Türkiye. Severance Pay (Kıdem Tazminatı) 2026: Complete Guide. In 2026, statutory termination payment thresholds have been revised. The severance pay ceiling has increased to 64,948 Turkish liras for each year of service.
12 February 2026
148
Business in Turkey
Company closures in Türkiye: statistics and a cash-flow review
What TOBB's figures establish and how to check whether a business can carry delayed receipts or an unrenewed facility.
11 February 2026
149
Business in Turkey
Foreign Business Statistics in Türkiye 2025:
Iranians are opening stores and small firms, Germans are building factories and opening representative offices of major corporations, and the Chinese are capturing niches in supply chains. CIS business activity is at an all-time low.
9 February 2026
150
Business in Turkey
Türkiye's Industrial Paradox
Why real growth is moving away from Istanbul and how the hierarchy of industrial hubs is reshaping investor strategies and supply chains
22 December 2025
151
Company News
KURGAN Reshapes Tax Rules in Türkiye from October 2025
Why every transaction is now under scrutiny and how the presumption of intent threatens businesses
19 December 2025
152
Company News
SGK Launches Mass Audits of Gray Salaries
Why the \"minimum wage on paper\" scheme has become a high-risk red zone and what penalties businesses face right now
17 December 2025
153
Banking
The Turkish Stock Market Can Wipe Out a CIS Investor's Capital
Why copying the local investment playbook fails, and how to survive high inflation and lira devaluation.
17 December 2025
154
Company News
KURGAN: What It Is and Why It Matters
As of October 1, 2025, the era of "we did not know the document was forged" has ended in Türkiye. The KURGAN system leverages AI to analyze company operations and identify document fraud risks, while tax authorities now operate under a presumption of deliberate use.
17 December 2025
155
Company News
Foreign Capital Arrives, Local Capital Leaves: A Lucrative Paradox for Foreign Investors in the Turkish Economy
In the first nine months of 2025, Türkiye attracted $11.4 billion in foreign direct investment—46% more than the previous year. Concurrently, Turkish businesses are accelerating capital flight abroad. We analyze what this dual flow means for foreign investors.
15 December 2025
156
Company News
Free Trade Zones in Türkiye Are Open to International Investors
Türkiye's free zones have become the core of a high-value-added export model. Amid currency risks and inflation, they provide what the rest of the economy lacks: stability and predictability. Who qualifies and at what scale.
15 December 2025
157
Company News
Uber Invests $200M in Türkiye: An Example of a Major Investor Committing Capital Beyond Its Initial Plans
Uber is establishing a global development center in Istanbul: a $200 million investment and approximately 500 engineers. We analyze why this decision was made outside initial plans and what it reveals about Türkiye's emergence as an R&D hub.
15 December 2025
158
Company News
💳TCMB Revokes Papara's License: A New Phase of Fintech Regulation in Türkiye
The Central Bank of the Republic of Türkiye has revoked the license of Papara Elektronik Para, one of the country's largest fintech players. The decision was published in the Resmî Gazete under Law No. 6493. What this means for those running payment flows through Turkish fintech.
15 December 2025
159
Company News
Türkiye cuts its policy rate to 36%: when does a business loan become cheaper?
The 22 October 2026 decision and a review of loan repricing, fees, repayment schedules and assumptions about further rate cuts.
15 December 2025
160
Company News
Growth Without Development: Türkiye's GDP Has Grown for 20 Quarters, While Purchasing Power Declines
Türkiye's economy grew by 4.8% year-on-year—for the twentieth consecutive quarter. A record on paper, but in reality, businesses and individuals do not feel this growth. We break down the difference between growth and development and what this means for investors.
15 December 2025
161
Banking
Sanctions Are Tightening!
— Time for Turkish companies to separate legal entities, switch settlement currencies, and redraft contracts
15 December 2025
162
Company News
Why New Turkish Citizens Are Buying Real Estate Abroad
A practical guide for our clients
15 December 2025
163
Company News
"Türkiye is Heaven for Those in the Know, Hell for Outsiders": What Foreign Businesses Fail to See at Market Entry
From the outside, Türkiye looks like an easy market: high demand, a young population, and strong export potential. Yet the internal logic of Turkish business operates differently. Türkiye is not a risk—the risk is entering Türkiye the wrong way.
2 December 2025