Data Protection Authority (“Authority”) has published a new decision on the date of 03.08.2018 (“Decision”). As per the Decision, it is emphasized that data transfer between various data controller companies under the same enterprise system shall be accepted as a data transfer to a third party. In this respect, it is acknowledged that Article 8 […]
The investor programme is expected to bring a lot of foreign currency to Turkey. There is a considerable demand from the Gulf area, but it is not yet that easy to conclude how this will unfold because the legislation is so recent. As well as residency, there are other paths to citizenship, such as job […]
Most of the investors in Turkey come from the Gulf area; countries such as Saudi Arabia, Iran, Africa, Egypt or Qatar. These are foreign people seeking a more established and secure country, but also a country with a familiar culture. Most people in Turkey are Muslim, which makes investors from Arab states feel closer to […]
New legislation introduced in Turkey in January 2017 allows a person acquiring property at the value of USD1 million to acquire Turkish citizenship. There are a number of steps involved in this process which need to be considered before investment. There is a holding period of three years during which the applicant cannot sell or […]
Following enactment of Data Protection Law with no 6698 (“Law”), Data Protection Authority (“Authority”) has started to render its decisions on particular issues related to data security for explanatory purposes. In this respect, the Authority has made explanations for access authorization of company employees through its principle decision with the date of 31.05.2018, with the […]
There are no citizenship tests or language requirements in Turkey as per the current legislation. As to Turkish residency, if you have not acquired a property for USD1 million, but say USD300,000, you are still entitled to apply for citizenship, but you need to be resident for eight years without interruption
Turkish legislation on personal data protection continues to develop with the resolutions and declarations of the Turkish Data Protection Authority (“DPA”). The recent developments shed light on the transfer of personal data outside Turkey without relying on the explicit consent of the data subject and the data controllers who will be kept exempt from the […]
The tax treatment doesn’t change when you become a Turkish citizen, because income tax is only applicable if you sell the property within the first five years as per the current legislation. If you do sell the property during that period, you may be exposed to income tax. As stated earlier, you should not sell […]
Political instability and an over-reliance on a single economic system are two of the reasons why high net worth investors seek alternative citizenship somewhere other than the country of their […]
Read moreThe Law on Restructuring of Tax and Some Other Receivables and Amending Some Other Codes with no. 7143 (the “Law”), published in the Official Gazette dated 18 May 2018 and numbered 30425, introduced Provisional Article 16 into the Zoning Law with no. 3194. Pursuant to this article, owners of buildings which fall within the scope […]
The amendments to the annex to the Convention on Facilitation of International Maritime Traffic (“The Convention”) were recently ratified by the Council of Ministers and entered into force on 19.03.2018 after being published in the Official Gazette. Turkey has been a party to the initial text of the Convention since 13.03.2016 but did not adopt […]
It is mandatory for shore facilities — ports, terminals, refineries, shipyards, recycling yards and similar — to obtain insurance cover for marine pollution liability pursuant to the Law no. 5312[1]. Minimum limits of cover are set by the Prime Ministry and the Treasury Undersecretariat and the previously applicable limits were updated by the new limits published […]
