Turkish citizenship and the almost tax-free crypto trade
Published at: 28/06/2024 02:31 pm
The Turkey Citizenship by Investment Program presents an enticing opportunity for crypto investors seeking a unique advantage. With the government's recent decision to introduce a mere 0.03% transaction tax on crypto trading, the investors already started to gather the necessary documents for the Turkish naturalisation process.
The "crypto-investor" status is not rare anymore; many people try their luck and skills in the crypto market. However, gains on cryptocurrencies are usually highly taxed. Traditionally, Switzerland, Malta, Austria, Panama, and Portugal were the best locations to get a residence permit or to sell your cryptos. Now, Turkey has joined the league of countries with low taxes on crypto. Furthermore, profits from stocks have also become a hassle-free affair. At Discus Holdings Ltd, we have been assisting applicants for Turkish citizenship through investment since the program's inception in 2017. Initially, the price was the main attraction, and now the tax system has also improved. The Turkish government aimed to create a tax-exempt environment for crypto traders and also sought to eliminate tax on stock gains. However, due to the record high inflation and economic turbulence, the government introduced a transaction tax, which remains one of the lowest burdens.
Why choose a Turkish passport for taxation?
The most attractive Turkish citizenship by investment program option was always real estate purchase. The minimum investment amount covered purchasing a beautiful house on the Turkish Riviera; passports were an additional advantage. The new 0,03% transaction tax on crypto allows traders and investors not only to buy or sell crypto for free but also to do it transparently and internationally compliantly.
How much must you invest in for a Turkish citizenship?
The most popular route is through real estate purchase, where you are required to buy property worth at least 400,000 USD. Alternatively, you can deposit or invest in a local company 500,000 USD or create 50 jobs.
Rest assured, the experts at Discus Holdings Ltd. are well-versed in all the useful, detailed information on the naturalisation process for investors in Turkey. Ask for a consultation here, and let's discuss the taxation regarding your stocks, crypto, or foreign-sourced income. You can trust us to guide you through this lucrative investment opportunity.