Overseas property
Articles
Article snippet
Tranio logo

Turkish government introduces the Istanbul Financial Center law

Updated on
Turkey
Mert Kahveci / unsplash

Turkey introduced the Law regulating the management and operations of Istanbul International Financial Centre (IIFC). IFC aims to improve the country's economic competitiveness and make Istanbul one of the world's leading financial centres.

IIFC will provide residency to public and private sector banks, brokerage firms, asset management companies, insurance companies, professional service companies, as well as Turkish and international financial institutions.

Property for sale in Istanbul 1,484 listings on Tranio

The law provides favourable conditions for international financial organisations. For example, 75% of profits will be deducted from the business profit in the calculation of the corporate income tax base. The deduction rate will be 100% for the 2022 to 2031 period.

Employees of the IIFC residents will also be exempt from income tax on earnings up to 80% of their salary. This measure is aimed to support the resident companies in attracting the best talents to IIFC. The law also exempts the residents from insurance and banking transaction tax and stamp duty.

Share the article
Subscribe not to miss new articles

We will send you a content digest not more than once a week

Subscribe
    I confirm that I have read and accept the Privacy Policy and Personal Data Processing Guidelines.
    Done!

    Tranio’s managers offer advice on buying real estate in Turkey
    Marina Filichkina
    Marina Filichkina
    Head of Sales
    +44 17 4822 0039
    Send a request
      I confirm that I have read and accept the Privacy Policy and Personal Data Processing Guidelines.
      • 0% commission to Tranio
      • Residence permit support
      • Mortgage rates from 6%