The Turkish authorities denied what was recently reported in some media outlets about the state seizing 50% of the value of the property upon the death of the foreign owner, explaining that inheritance taxes are defined by law and are calculated as tranches starting from 1% only. Also, the tax system is applied to Turks and foreigners alike, as a foreigner in Turkey is treated tax-wise just like a Turkish citizen, and there is no difference between them. <In this regard, Dr. / Mustafa Koksu / Senior Advisor to the Turkish Prime Minister's Investment Support and Promotion Agency explained that the foreign investor has the right to allow his family and anyone who wishes to use the apartments he owns, and if he wishes, he can also execute a lease contract between him as the owner of the apartment and a friend or relative as a tenant of this apartment, in addition to disposing of his apartments he owns in any way he wants as is the case with the apartments he owns in his country. Dr. Kocsko pointed out that the tax system in Turkey is applied on the profit only and not on the value of the property according to known and clear slides, in addition to that Turkey exempts the foreign investor from tax on this profit if he remains the owner of this property for five years, then he sells it and receives the value of the property and the profit without paying any tax.

Dr. Kocsko