Asset Amnesty Opportunity in Türkiye for Non-Resident Individuals: Is It Worth It?
6 August 2026
Türkiye has introduced a significant asset amnesty program, enacted through Law No. 7582 published on June 4, 2026, and detailed by General Communiqué Serial No. 1 on July 4, 2026. Unless extended for one year by the President, this program will remain effective until July 31, 2027.
Based on the explanations in the Law and the relevant communiqué, it is understood that both resident and non-resident individuals can benefit from this opportunity for eligible assets, including cash, gold, foreign currency, securities, and other capital market instruments.
Tax residency status — in other words, determining the country where an individual is considered a full tax resident—is perhaps the most critical and high-priority issue to clarify regarding tax obligations. According to Article 3 of the Income Tax Code, resident individuals are taxed in Türkiye on their worldwide income. In contrast, non-resident individuals are taxed only on income derived from sources within Türkiye. That is, Türkiye, as the source country, only holds the taxation rights over the Turkish-source income of non-residents. The criteria for income to be considered Turkish-source for each of the seven types of income are detailed in Article 7 of the Income Tax Code.
We evaluate that under the current asset amnesty framework, individuals can benefit from the regulations regardless of whether they are resident or non-resident taxpayers.
Since Türkiye fundamentally holds the right to tax income derived within its borders by non-resident individuals, the asset amnesty program offers a major opportunity. It protects individuals from potential tax audits and tax assessments by allowing them to declare assets held in Türkiye. This is particularly valuable if their Turkish-source income has not been previously declared or taxed correctly. However, a specific clause in the communiqué significantly restricts this benefit for individuals: it limits the domestic amnesty only to assets physically present in Türkiye that are not currently held in banks or intermediary institutions.
On the other hand, the regulations also allow individuals to bring assets located abroad into Türkiye without making any distinction between resident and non-resident taxpayers. While this offers a major opportunity for resident taxpayers who are liable for tax on their worldwide income, it may raise a logical question for non-resident individuals:
"Since non-residents are only taxed on income derived in Türkiye, why should they bring their foreign assets to Türkiye under this protection program?"
Although bringing foreign assets to Türkiye under the asset amnesty primarily provides protection against potential tax audits and assessments, non-residents should evaluate specific scenarios where this opportunity delivers tangible benefits. For instance:
Based on the explanations in the Law and the relevant communiqué, it is understood that both resident and non-resident individuals can benefit from this opportunity for eligible assets, including cash, gold, foreign currency, securities, and other capital market instruments.
Tax residency status — in other words, determining the country where an individual is considered a full tax resident—is perhaps the most critical and high-priority issue to clarify regarding tax obligations. According to Article 3 of the Income Tax Code, resident individuals are taxed in Türkiye on their worldwide income. In contrast, non-resident individuals are taxed only on income derived from sources within Türkiye. That is, Türkiye, as the source country, only holds the taxation rights over the Turkish-source income of non-residents. The criteria for income to be considered Turkish-source for each of the seven types of income are detailed in Article 7 of the Income Tax Code.
We evaluate that under the current asset amnesty framework, individuals can benefit from the regulations regardless of whether they are resident or non-resident taxpayers.
Since Türkiye fundamentally holds the right to tax income derived within its borders by non-resident individuals, the asset amnesty program offers a major opportunity. It protects individuals from potential tax audits and tax assessments by allowing them to declare assets held in Türkiye. This is particularly valuable if their Turkish-source income has not been previously declared or taxed correctly. However, a specific clause in the communiqué significantly restricts this benefit for individuals: it limits the domestic amnesty only to assets physically present in Türkiye that are not currently held in banks or intermediary institutions.
On the other hand, the regulations also allow individuals to bring assets located abroad into Türkiye without making any distinction between resident and non-resident taxpayers. While this offers a major opportunity for resident taxpayers who are liable for tax on their worldwide income, it may raise a logical question for non-resident individuals:
"Since non-residents are only taxed on income derived in Türkiye, why should they bring their foreign assets to Türkiye under this protection program?"
Although bringing foreign assets to Türkiye under the asset amnesty primarily provides protection against potential tax audits and assessments, non-residents should evaluate specific scenarios where this opportunity delivers tangible benefits. For instance:
- Linking Assets to Turkish-Source IncomeIf foreign assets are linked to past, undeclared activities in Türkiye (such as unregistered commercial profits, capital gains, or other undeclared Turkish-source income), transferring these assets to Türkiye under Law No. 7582 can substantially mitigate retrospective tax risks.
- Evaluating Tax Residency StatusThe tax residency (resident vs non-resident) is one of the most critical issues in taxation and is rarely straightforward without a detailed analysis. If the Turkish Revenue Administrationchallenges a non-resident status and concludes that the individual is actually a "resident taxpayer," that person's worldwide income could become retroactively taxable in Türkiye. The asset amnesty serves as a protective shield against potential tax audits for the declared assets.
- The New 20-Year Foreign Income ExemptionLaw No. 7582 introduced a 20-year foreign income exemption effective January 1, 2026, for individuals who become tax residents in Türkiye and have not held Turkish tax residency in the last three calendar years. Transferring foreign assets to Türkiye under the amnesty program can help these individuals secure their existing wealth before transitioning to a resident taxpayer status. However, it must not be overlooked that their Turkish-source income will still be subject to taxation in Türkiye under general rules.
- Automatic Exchange of Financial Account InformationIn line with OECD standards, Turkey annually and automatically shares the financial account information of individuals with the tax authorities of their respective countries of residence. It is crucial to ensure that foreign assets comply with the tax obligations of both the country of residence and Türkiye. This amnesty provides a vital opportunity to reduce potential retrospective tax risks before any tax audit or assessment processes are initiated.
- Those Seeking to Bring Foreign Assets to TürkiyeWhile the primary objective of the regulation is to record specific assets by guaranteeing that no tax audits or assessments will be conducted, it also provides a viable framework and ground for non-residents who wish to transfer their overseas assets into Türkiye.
Tax Protection vs. Other Legislation: The asset amnesty strictly and exclusively covers tax audits and tax assessments for the amounts corresponding to the notified assets. It PROVIDES NO immunity or protection regarding Anti-Money Laundering (AML) legislation, MASAK (Financial Crimes Investigation Board) regulations, or any other offenses under the Turkish Penal Code.
Offset Rules in Audits: If a tax audit is launched against a taxpayer for other reasons and an unregistered tax base discrepancy is discovered, the declared asset amounts can be offset against the discovered discrepancy, provided that a clear link can be established between the audit findings and the declared assets.
IN SHORT
Before utilizing this process, non-resident individuals should carefully analyze the following points:
Before utilizing this process, non-resident individuals should carefully analyze the following points:
- Whether past Turkish-source income and tax obligations have been fully and timely fulfilled
- The exact clarification of the individual's resident or non-resident status, considering domestic legislation and the provisions of relevant Double Taxation Treaties (DTT)
- Whether bringing foreign assets into Turkey will deliver a genuine, concrete tax advantage in Türkiye
AUTHOR
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