Family Office in Turkey: Rules, Costs and Tax in 2026
Turkey has no family office regime: no licence, registration or wealth test for a single family office was found in the Capital Markets Board (SPK) pages or the Istanbul Financial Center law and incentives, while SPK says collective portfolio management is reserved to portfolio management companies it has authorised. Law 7582 of 4 June 2026 exempts from income tax, for 20 years, the foreign income of people who become resident from 1 January 2026 after three calendar years without a Turkish residence or tax liability, and opens a wealth amnesty until 31 July 2027. Citizenship by investment starts at USD 400,000 in real estate that may not be sold for three years, or USD 500,000 in other listed investments (Invest in Türkiye), and inheritance tax for spouses and children runs from 1% to 10% above TL 2,907,136 per share in 2026. [1, 2, 3, 4, 5, 6, 7]
Best for: Families moving to Turkey from abroad who can use the 20-year income tax exemption on foreign income for people resident from 2026, or who want citizenship through investment, and who accept income tax of up to 40% on Turkish income, inheritance tax from 1% and no dedicated family office regime.
At a glance
| Licence | No family office licence or exemption found; SPK authorises portfolio managers |
|---|---|
| Minimum wealth | No wealth minimum in the rules checked; no family office regime |
| Who counts as family | No official figure found |
| Serving several families | No MFO licence; collective portfolio management needs an SPK-authorised company |
| Law and courts | Commercial Code, Code of Obligations; SPK for capital markets; national tax laws |
| Substance | No family office rule found; SPK portfolio managers need TL 2,000,000 initial capital |
| Holding vehicles | AŞ, Ltd. Şti. and partnerships; foundations and trusts not checked (reported) reported |
| Corporate tax | 25% (30% for financial firms); 10% domestic minimum tax from 2025 (reported) reported |
| Family office tax | No regime; IFC: 100% deduction on financial service exports until 2047 |
| Personal income tax | 15% to 40% (2026); foreign income exempt 20 years for residents after 3 years away reported |
| Inheritance tax | 1% to 10% above TL 2,907,136 per descendant or spouse (2026); gifts 10% to 30% |
| Wills and succession | Reserved share: half the statutory share for descendants; spouse protected (reported) reported |
| Residence | Citizenship from USD 400,000 property kept 3 years; residence permit for USD 200,000 home |
| Time to set up | No official figure found |
| Official fees | No official figure found |
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Licence and who qualifies
How is a family office licensed in Turkey?
No family office licence, registration or family exemption was found in the Turkish sources checked. The Capital Markets Board (SPK) says collective portfolio management can be carried out only by portfolio management companies it has authorised, which are capital markets institutions set up as joint stock companies with SPK formation and operating permits; its page lists individual portfolio management as a separate category without saying who may provide it, and says nothing about managing one's own or one family's assets. No SPK text was found on whether a company that manages only its own family's assets needs authorisation, and the Istanbul Financial Center Law and its incentives page do not mention family offices. [1, 2, 3]
What is the minimum wealth for a family office in Turkey?
No minimum family wealth in the rules checked: there is no family office regime, and neither SPK's portfolio management pages nor the Istanbul Financial Center Law and incentives page set a wealth figure. The fixed amounts found for wealthy families are citizenship and residence figures, not family office tests: USD 400,000 in real estate or USD 500,000 in other listed investments for citizenship, and a home worth USD 200,000 for a residence permit (see residency). [1, 2, 3, 6, 10]
Who counts as family?
Not found in official sources. With no family office regime, no definition of the family that a family office may serve was found. Other rules use their own circles: Invest in Türkiye's citizenship guide says the investor's spouse and the investor's or spouse's minor or dependent children may also acquire citizenship if they apply together, and the inheritance tax exemption applies to the share of each descendant (adopted children included) and the spouse. [7, 11]
Can one office serve several families?
No dedicated multi-family office licence was found. SPK says collective portfolio management can be carried out only by portfolio management companies it has authorised: a portfolio management company is a capital markets institution set up as a joint stock company under the registered capital system of the Turkish Commercial Code, needs SPK formation and operating permits, and must have initial capital of at least TL 2,000,000 (SPK's introduction guide, undated). The page does not say who may provide individual portfolio management or whether serving several families is treated differently. [1]
Law, substance and vehicles
Which law and courts apply?
Companies are governed by the Turkish Commercial Code (TTK) and contracts such as portfolio management agreements by the Code of Obligations, and the Capital Markets Board (SPK) authorises portfolio management companies (SPK). Income and corporate taxes are set by national laws (the Income Tax Law, Law 193, and the Corporate Tax Law, Law 5520) and administered by the Revenue Administration (GİB). The Istanbul Financial Center Law (Law 7412, 2022) gives tax and fee incentives to participants in a designated office area in Istanbul; no separate courts for the IFC were found in the sources opened. [1, 2, 3, 4, 12]
What substance is required?
No office, staff or spending rule for a single family office was found. An SPK portfolio management company must be a joint stock company with initial capital of at least TL 2,000,000 and is governed by SPK Communiqué III-55.1 (SPK's introduction guide, undated). Among the IFC incentives, a Qualified Service Centre must earn at least 80% of its annual revenue from foreign affiliates or group companies active in at least three countries. [1, 2]
Which holding vehicles are available?
Deloitte (January 2024) lists joint stock companies (AŞ), limited liability companies (Ltd. Şti.), ordinary and limited partnerships, sole proprietorships and branches of foreign companies as the common business forms, and SPK requires portfolio management companies to be joint stock companies. Foundations, family foundations and the treatment of foreign trusts were not checked in official sources. [1, 13]
Reported by the sources named, not confirmed by an official source.
Tax
What is the corporate tax rate?
Corporate tax is 25%, and 30% from 2025 earnings for banks, financial leasing, factoring and financing companies, e-money institutions, authorised foreign exchange firms, asset management companies, capital markets institutions, insurance and pension companies, among others (Andersen, August 2024, on Law 7524). From 2025 earnings, a domestic minimum corporate tax means tax cannot be less than 10% of corporate earnings before exemptions and deductions, with listed items such as dividends from fully taxable Turkish companies left out of that base and new companies exempt for their first three periods; a 15% global minimum tax applies to groups with consolidated revenue above EUR 750 million. A family holding company pays no corporate tax on dividends from fully taxable Turkish companies (EY, 2025), and for sales from 27 November 2024 only 50% (previously 75%) of the gain on participation shares held for at least two full years is exempt, if the exempt part is kept in a special fund until the end of the fifth year after the sale and the price is collected by the end of the second year after the sale (GİB ruling, February 2025). [12, 14, 15, 16]
Reported by the sources named, not confirmed by an official source.
Are there tax incentives for family offices?
No tax regime for family offices was found: the Istanbul Financial Center Law (Law 7412, 2022) and the IFC incentives page do not mention family offices. IFC participants hold a participant certificate issued by the managing company set up by the Türkiye Wealth Fund; earnings from financial service exports (services by authorised financial institutions to non-residents, used abroad) are 100% deductible from the corporate tax base until 22 June 2047, staff with at least five or ten years of experience abroad who did not work in Turkey in the previous three years have 60% or 80% of their wages exempt from income tax, and participants are exempt from financial activity fees for twenty years (until 2043, per the incentives page). Law 7582 (4 June 2026) changed '2031' to '2047' (the deduction) and 'five' to 'twenty' (the fee exemption) in the IFC Law's temporary article 1. [2, 3, 4]
Is there personal income tax?
Residents (people domiciled in Turkey or staying continuously for more than six months in a calendar year) are taxed on worldwide income, according to EY and Deloitte. The 2026 income tax scale (Communiqué 332) runs from 15% to 40%, with 40% on income above TL 5,300,000 for both wages and other income; EY's 2025 table says companies withhold 15% on dividends paid to individuals (10% before 22 December 2024), half of dividends from fully taxable companies is declared above an annual threshold (TL 330,000 for 2025) with the withholding credited, and gains on Borsa Istanbul shares other than securities investment trusts bear a final 0% withholding. Law 7582 (published 4 June 2026) added article 20/D to the Income Tax Law: people who become resident from 1 January 2026 and had no Turkish residence and no Turkish tax liability in the three preceding calendar years pay no income tax on income and earnings from abroad for 20 years (earlier Turkish rental, securities or capital gains income does not block this), without deducting related costs or crediting foreign tax, while Turkish income stays taxable. According to EY and PwC, Communiqué 333 (Resmî Gazete 4 July 2026) requires an exemption certificate from the tax office, applied for by the end of the calendar year in which residence starts (end of February of the next year if it starts in November or December). The same law opened a wealth amnesty, until 31 July 2027, for money, gold, foreign currency and securities held abroad or kept off the books in Turkey: 5% tax, one point less for each year (up to five) the declarant commits to keep the assets in Turkish deposits, government bonds, lease certificates or venture capital funds (0% for five years), plus half a point for declarations from 1 January 2027. [4, 5, 8, 9, 13, 15, 17, 18, 19]
Reported by the sources named, not confirmed by an official source.
Is there inheritance or estate tax?
Inheritance and gift tax (veraset ve intikal vergisi) applies. For 2026 the inherited share of each descendant (adopted children included) and of the spouse is exempt up to TL 2,907,136, the spouse's share up to TL 5,817,845 if there are no descendants, and gratuitous transfers such as gifts up to TL 66,935; above these, inheritances are taxed at 1% on the first TL 3,000,000, then 3%, 5% and 7%, and 10% above TL 55,000,000, and gratuitous transfers at 10% to 30% on the same brackets (Communiqué 57, published 31 December 2025). Law 7582 (4 June 2026) added to article 16 of the Inheritance and Transfer Tax Law that 'the tax rate is applied as 1%' for transfers of property by inheritance, within the exemption period, 'from those who benefit' from the 20-year foreign income exemption of article 20/D. The text does not say expressly whether the deceased or the heir must hold that exemption (EY reads it as heirs of a holder who dies within the 20 years paying 1%); it covers inheritance only, not gifts, and does not limit the rate to foreign assets. [4, 5, 7, 8]
Succession and residence
How do wills and succession work?
Under the Turkish Civil Code, as summarised by the law firm Kulaçoğlu (May 2026), the reserved share (saklı pay) is half of the statutory share for descendants, a quarter for each parent, and for the surviving spouse the whole statutory share when inheriting with descendants or parents and three quarters otherwise; siblings have no reserved share. The spouse's statutory share is a quarter alongside descendants, half alongside parents, three quarters alongside the grandparents' line and the whole estate otherwise. A will or inheritance contract can freely dispose only of the rest, and an heir whose reserved share is infringed can bring a reduction action (tenkis). [20]
Reported by the sources named, not confirmed by an official source.
Can the family get residence?
Turkey grants exceptional citizenship by investment, by decision of the President, under article 20 of the regulation implementing the Turkish Citizenship Law. Invest in Türkiye (the Presidency's Investment Office, page updated August 2026) lists real estate worth at least USD 400,000 with a title deed annotation that it will not be sold for three years; USD 500,000 of fixed capital investment; USD 500,000 in bank deposits, government bonds, real estate or venture capital investment fund units, or private pension contributions, kept for at least three years; or creating at least 50 jobs. The Treasury and SPK pages confirm the bond and fund routes, and Invest in Türkiye's citizenship guide (current at 1 January 2024) says the spouse and the investor's or spouse's minor or dependent children may also acquire citizenship if they apply together. The real estate minimum was raised from USD 250,000 to USD 400,000 by Presidential Decision 5554 (Resmî Gazete 13 May 2022, in force one month later), which also added the private pension route; no 2025 or 2026 change was found. For a short-term residence permit, the Presidency of Migration Management requires a home worth at least USD 200,000 (in Turkish lira at acquisition), used as the foreigner's home and not rented out, and has a separate investor category requiring a conformity certificate, under which family members can also apply. [6, 10, 11, 21, 22, 23]
Time and fees
How long does set-up take?
Not found in official sources.
What are the official fees?
Not found in official sources. No family office licence fee exists because no family office regime was found; trade registry fees and SPK fees for a portfolio management company were not found in the sources opened. SPK's TL 2,000,000 minimum initial capital for a portfolio management company is a capital requirement, not a fee, and IFC participants are exempt from financial activity fees for twenty years (until 2043, per the IFC incentives page). [1, 2]
Pros and cons
Pros
- People who become resident from 1 January 2026 after three calendar years without a Turkish residence or tax liability pay no income tax on income from abroad for 20 years, with an exemption certificate from the tax office, and Law 7582 sets a 1% inheritance tax rate for inheritances 'from those who benefit' within that period, without saying expressly whether the deceased or the heir must hold the exemption.
- Citizenship by investment is open, from USD 400,000 in real estate that may not be sold for three years or USD 500,000 in fixed capital, deposits, government bonds, fund units or private pension kept for three years (Invest in Türkiye), and a home worth USD 200,000 supports a short-term residence permit.
- A family holding company pays no corporate tax on dividends from fully taxable Turkish companies (EY), and 50% of the gain on selling participation shares held for at least two full years is exempt if the exempt part is kept in a special fund until the end of the fifth year after the sale and the price is collected in time (GİB ruling).
Cons
- There is no family office regime, and no official text says whether a company managing one family's assets needs SPK authorisation; collective portfolio management is reserved to SPK-authorised portfolio management companies.
- Inheritance tax applies to spouses and children at 1% to 10% above TL 2,907,136 per share (2026), and gifts are taxed at 10% to 30% above TL 66,935.
- Income tax reaches 40% above TL 5,300,000 (2026), and companies pay 25% corporate tax (30% for financial institutions, including capital markets institutions) with a 10% domestic minimum tax from 2025 (reported).
