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How to Establish a New Company in Turkey
How to Establish a New Company in Turkey

Turkey has drawn international investment for many years due to its unique trading location between Asia, Europe, and the Middle East. Turkey is often regarded as a prominent country, with numerous public and multinational corporations establishing offices in and around Turkey's major cities.Why should you start a business in Turkey?Recent laws to encourage foreign investment have made it easier than ever to establish a firm in Turkey.There are government incentives for investors and new firms include:The ability for foreign companies to get "Turkish Company" status, which grants new business owners the same rights and duties as existing Turkish companies;Existing investment rights are guaranteed;adherence to international norms;Changing the definition of a foreign investor to include corporations registered outside of Turkey, non-Turkish nationals, and Turkish nationals residing abroad;Certain imports of machinery and equipment are now exempt from customs duties, levies, and VAT; certain exemptions from income tax and social insurance contributions; energy subsidies; incentives provided in Turkey's free trade zones, including exemptions from a variety of taxes and customs charges;Better safeguards for foreign investors.So, how do you go about starting a business in Turkey?There are several choices available if you want to start a business in Turkey. First, you should get strong legal counsel and do research with the appropriate authorities. Foreigners might explore collective companies, joint stock companies, commandite companies (businesses set up to operate under a trade name), liaison offices, and establishing a branch of an existing foreign firm. However, in this essay, we will concentrate on the comparatively simple and manageable - and hence most common - formation of a private limited company.Can foreigners establish a limited liability corporation in Turkey?Yes. The most common type of business for foreigners is a private limited company, which may be formed by two or more non-Turkish nationals. This sort of corporation must have at least one shareholder and a minimum share capital of 10,000TL.Should I use a business formation agent?Similarly to the United Kingdom, an increasing number of company formation brokers advertise their services in local newspapers and can be found in most towns and cities. Many expats choose this option since it may save time and effort if you locate a reputable agency. If you are thinking of hiring one, do your homework beforehand and find out what other expat businesses they have helped set up. As with everything, some of these businesses are significantly superior to others.What types of businesses may a foreigner establish in Turkey?Most expats start enterprises that are related to tourism or cater to the requirements of other foreigners. Bars, restaurants, hotels, vacation rental firms, estate agents, stores, and maintenance organizations appear to be the standard and are typically simple to organise and manage for foreigners. Foreigners are not permitted to operate some enterprises in Turkey without prior authorisation from the Ministry of Commerce and Industry. Banks, factoring, private financial institutions, foreign currency exchange offices, firms subject to Capital Markets Law, public warehousing, and free-trade zone operators are among them. If you are unsure, consult your lawyer and local authorities.What is the cost of forming a Turkish limited liability company?The legalities and expenses of establishing a business in Turkey differ from those in the United Kingdom and most other nations. A private limited company costs a total of 10,000TL, which must be deposited during the establishment process. The shareholders' liability is restricted to the amount of share capital invested in the firm.What is the procedure for getting started?The business creation procedure in Turkey is pretty simple, and the investor will be able to begin trading within a week if everything is in order.The first step is to prepare the articles of incorporation, which must be signed by the company's directors. Articles of association must be written out lawfully and in accordance with Turkish Commercial Code article 279. The term "limited" in the company's trading name must be included in the paperwork. Founders must provide information such as their country, complete names, surnames, residences, and trade address. The document is then brought to be notarised and, if necessary, translated.The required minimum share capital must be placed in a bank account in the name of the firm. Following that, investors can begin the registration procedure by paying a fee to the Turkish Commercial Registry Office and submitting the required paperwork. The Registry Office will issue a registration certificate, and the establishment of the business will be published in the Turkish Gazette. The business must then register for VAT with the appropriate tax body.Trading name legislation in TurkeyYour trading name must be unique and unregistered with anybody else. It must not mislead third parties, and the phrases "Turkiye; Turk; Cumhuriyet; Milli" must not be used without the express permission of the Turkish Council of Ministers. Foreign terms and titles may be used in the trading name only provided they do not violate any government or cultural laws or policies.How to Register a Turkish Business with the Trade Registry OfficeThe Turkish Chamber of Commerce maintains offices in all major cities and municipalities around Turkey. After you've completed your Articles of Association and had them notarized, contact them within 15 days to arrange for the official trade register. You will need your completed company registration application form, your written request for application, appropriate identification proving you are the founding members, a letter of commitment in accordance with Article 29 of the Trade Registry Regulations, and a receipt for payment of the deposit required to the Customers Fund Account (normally 1/1000 of the company's capital) at registry. This may sound more frightening than it is, but in order to prevent lengthy waits and unneeded misunderstanding, ensure you have proper legal knowledge or support, as well as the ability to speak, read, and write Turkish. In most circumstances, it is preferable to travel with a native speaker. Your company can begin trading after it has been registered.Current Trading and TaxesA private limited business established and based in Turkey must pay full tax on income earned and declared. In addition, you will need to hire an accountant, and bear in mind that accountants in Turkey function differently than in the UK, charging a monthly fee that, in certain situations, might appear expensive while accomplishing quite little some of the time. Because laws and taxes change on a regular basis, you should consult with a qualified accountant before forming your firm.Overall Suggestions and AdviceDo your research. Make sure you have done your homework before considering establishing a firm in Turkey. Speak with other business expats, your lawyer, and an accountant to determine whether it is a realistic alternative or whether you would be better suited investing elsewhere. Many horror stories are told by foreigners who have created stores, restaurants, and businesses that have failed and left them with a corporation that is difficult to dissolve. Make certain that your concept is a winner! Create a business strategy. Before you start your business, be sure your goals and expectations are clear.Investigate the startup and continuing costs of running the firm (accountant fees, marketing, taxes etc.) In Turkey, you are unlikely to be requested to provide a business plan, but it will force you to properly analyze and consider your enterprise.Language stumbling blocks: The procedure and documentation required to establish a business in Turkey will be in Turkish, so be sure you understand the language well enough or have the services of a trustworthy Turkish speaker on hand to assist you every step of the way.For company owners, citizenship via investmentSince 2018, there has been an additional incentive for anyone intending to establish a business in Turkey. The Turkish government is now providing citizenship to anyone who invests $250,000 in Turkish real estate. This will eliminate a lot of red tape for business owners. More information: Turkish citizenship by investing.In addition to purchasing property, business people can obtain citizenship through the following methods:1. Create jobs for at least 50 individuals in Turkey.2. Make a fixed capital investment of at least $500,000; 3. Deposit at least $500,000 in a Turkish account; and 4. Establish a venture capital investment fund worth $500,000.Please keep in mind that, while we have done our best to provide you with reliable advice, this material should not be construed as legal advice and is only designed to provide general counsel.Documents needed to start a business in TurkeyOne of the most important steps in starting a company in Turkey is preparing the papers necessary to register the firm with the Trade Registrar. The Articles of Association are the fundamental documents that must be written and notarized, and they must include all of the shareholders' information, including their names, addresses, contributions to the company's share capital, and the number of shares they own in the company. The Articles of Association must also include information about the company's management, such as their names, how they are appointed and resigned, and their tasks and responsibilities.The Turkish company's trade name, address in this country, and a description of the operation's aim must all be included in the same document. Other portions of the Articles of Association may be linked to amendments that may be presented to the business and dispute resolution methods if disagreements emerge among the shareholders. The Articles of Association must be drafted in accordance with the Commercial Code. If you are a foreign entrepreneur wishing to create a company in Turkey, our Turkish law office can assist you with the preparation of these documents.A crucial factor is that a basic application form must be lodged with the Trade Register when establishing a single proprietorship. The partnership deed is the cornerstone of the establishment of partnerships, which are known as commandite enterprises in Turkey.Step by step start a New Business in TurkeyForeign entrepreneurs who want to start businesses in Turkey must go through a few steps before they can begin operations. The following are the stages:Choosing on the type of business to start and having the necessary papers prepared and notarized in accordance with the Companies Act;Open a corporate bank account and deposit the required share capital.In line with the legislation, nominate the company's directors or management;Submit the incorporation documentation to the Trade Register, together with the names and addresses of the shareholders and management;Obtain tax and VAT identification numbers, and register with the tax office for social security reasons.Three significant special investment zones are of particular interest to foreign investors:the free zones (20 zones specifically designed to increase the number of export investments, with 100 percent duty exemption, corporate income tax for manufacturing enterprises, VAT, income tax on personnel salaries for companies that export at least 85 percent of goods produced here, unlimited free deposit of goods, and the ability to transfer profits abroad and to Turkey);organized industrial zones (276 zones with low natural gas, water, and telecommunications rates, no municipality tax on building or solid waste - the latter if the zone does not use municipal services, no VAT on land acquisition, and a five-year exemption from real estate duty);Technology development zones (50 zones with considerable exemptions from company and income taxes on software development revenue, VAT on software application sales, R&D salaries - but no more than 10% of total personnel - till 2024);Only 34 technical development zones are now functioning, with the others under construction. You should also know that hair transplantation is a thriving industry in Turkey.Foreign investors can also benefit from double tax treaties (which allow them to avoid paying the same taxes in their home country and in Turkey) and free trade agreements (signed with Albania, Bosnia and Herzegovina, Chile, Croatia, Egypt, Georgia, Iceland, Israel, Jordan, Lebanon, Liechtenstein, Mauritius, Macedonia, Montenegro, Morocco, Norway, Palestine, Serbia, South Korea, Switzerland, Syria, and Tunisia).Shareholders of a Turkish companyThe shareholders are the corporation's founders, or better phrased, the company's proprietors. These might be real people or companies with various rights and duties inside the company. In both private and public corporations, a Turkish firm can only have one investor. These can be Turkish citizens or residents, although foreigners can also be sole shareholders in a Turkish company.Shareholders have a main duty to contribute to the company's share capital. Based on their efforts, they will be given more or fewer rights in the company. In the case of limited liability companies, the shareholders' liability for the business's debts and other obligations is limited to the amount of money invested in the company. In the case of partnerships, the partners or members serve as shareholders.Company management in TurkeyThe firm's management is one of the most important positions in a Turkish organization. The shareholders of a private corporation must appoint at least one company director. A board of directors must oversee the operation of a public firm in Turkey. In the same sort of organization, at least one auditor must be selected. In the case of private firms, the auditor will be objective and will be called only when the financial documents of the business need to be audited. It should be noted that regardless of the kind of corporation, at least one shareholder must act as a corporate director. Another corporation can also assume the managerial role as long as a natural person is chosen as a corporate representative.The trade name and legal address are essential when forming a corporation in Turkey.The first step in forming a company in Turkey is to select a suitable trade name. The name should be unique and not insulting. To guarantee that the company name is different, the applicant can submit three potential names for validation, from which he or she will choose the best one based on the demands of the firm. We would like to remind investors that branch offices must be named after the parent company. A local address is also required for a corporation to be recognised as a Turkish resident firm. The registration address must be in the city where the business will be established. For this reason, we may provide virtual office services.How easy is it to locate workers in Turkey?If a newly founded Turkish corporation seeks to engage overseas personnel, the procedure may only be carried out if the foreign employees obtain a Turkish work permit. Work permits for foreign employees are available through two channels: the Ministry of Labor and Turkish embassies or consulates in the country of the foreign worker's residency. The Turkish Consulate or Embassy requires the following documents:The applicant's passport (valid for at least six months);An application for a work visa, which will be handed to the applicant on the spot;One recent passport-size photograph; and one copy of the work contract โ€” the copy must be provided by the potential employerA letter of assignment confirms the appointment of the future employee.When a company hires a foreign worker, the Turkish employer must submit the following documents to the Ministry of Labor and Social Security:letter of application for a work permit;Foreign personnel application forma financial report;the most recent income statementThe online application must be submitted to the Turkish Consulate within ten working days of the foreign employee applying for the job. Foreign employees are permitted to work in Turkey under the Employment of Foreign Nationals in the Framework of Foreign Direct Investments legislation. International direct investment refers to enterprises created in Turkey or branches of international corporations; under legislation no.4875, a Turkish company may employ foreigners as long as foreign shareholders own at least TRY 1,062,691 of the company's capital. Our Turkish legal office can provide you with further information regarding the requirements outlined in this statute. The Ministry requires residents to fill out an online application. Within one month, the decision to grant the work visa is made.How much does it cost to start a business in Turkey?Opening a company in Turkey is not expensive, but the business owner must consider the price of company registration, notary fees, and the honorarium of the Turkish law firm handling the process (if one is appointed).How long does it take to set up a business in Turkey?Forming a corporation in Turkey takes around three weeks. The procedure takes longer in the case of a branch office. Please contact our Turkish legal team for further information on the processes followed by Turkish authorities when founding a corporation. We can provide customized company registration services in Turkey.

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The 7 Best Cities For Expats To Live In Turkey
The 7 Best Cities For Expats To Live In Turkey

Turkey has traditionally been a popular tourist destination due to its geopolitical location and hospitality. As a result, it has become a key draw for both domestic and foreign investors in a variety of industries, including tourism and real estate. It's tough to be unimpressed when visiting Turkey. On your route to the gym, you may have to pass through a 130-year-old Roman gate. Simple, but not quite. When you meet a buddy for a cup of coffee, you can view Hagia Sophia, one of the "Seven Wonders of the World."Expats in Turkey enjoy a plethora of options due to the country's combination of Eastern and Western traditions. Expats in Turkey can choose to live in medieval cities full of Middle Eastern bazaars or on sun-kissed Mediterranean beaches. Turkey is an appealing destination to live for both long-term residents and newcomers to the expat community. It is critical for new immigrants to recognise that living in a foreign nation with significant cultural differences necessitates significant adjustment.As an expat in Turkey, you will benefit from reading this information on The Best City for Expats. Here is the list.Istanbul Istanbul is undoubtedly one of the greatest cities to reside in Turkey for individuals looking for work, particularly in the business sphere. It is the country's historic, economic, and cultural sector, which is why it is so beneficial to business. Istanbul, Turkey's most populous metropolis, attracts expats and foreign investment. The city is the country's principal financial, commercial, and industrial hub, with a varied economy. Expats seeking for a new job may find it in the automotive and electronics industries.Istanbul appears to be an appealing destination for foreigners wishing to settle in the country. with a population of 17 million people and beautiful monuments such as Hagia Sophia. The city attracts people from all around the world, notably those wishing to work or invest in Turkey. As a consequence of its ever-expanding potential, Istanbul can boast a diversified infrastructure as well as a variety of real estate development projects. Public transit is expanding in lockstep with new infrastructure investments.Because of its economic potential, the city is the site of one of the world's most major infrastructure development projects. The third bridge over the Bosphorus, which links to the world's third largest airport (Istanbul Airport), has attracted additional real estate developments, assuring the airport's expansion in the next years. Istanbul is also a wonderful option for digital nomads because it has the greatest internet services. For obvious reasons, the cost of living is greater here than everywhere in Turkey, but you can get around this by searching in the suburbs and commuting to work. It offers everything you might want in a metropolitan area of this size: a busy nightlife, plenty of shopping, good local and foreign schools, and, of course, sights like the Hagia Sophia, Blue Mosque, and others. Istanbul has pleasant weather and does not become very hot in the summer (it usually peaks around 24 C). It does become chilly in the winter, and snow is not rare.If business isn't your thing, it won't be difficult to get a job teaching English or in a related field. Furthermore, if you don't know Turkish, staying in Istanbul is a wonderful option because many people speak English.BodrumDue to its relationship with international artists and authors in the 1960s, Bodrum soon became a high-class city. Nowadays, it's a renowned tourist location, especially among celebrities. Kate Moss, Bill Gates, Nicole Kidman, and Tom Hanks have all been seen here in the past. Within the bigger region, there are lots of more rural retirement options, such as Gumusluk, Turkbuku, and Gumbet. The latter is ideal for folks who enjoy water activities. The city itself is perhaps "ritzier" than the surrounding districts, although it is also more popular with tourists. There are lots of mega-hotels along the shore, but if you dig hard enough, you can get some incredible deals on houses and villas.The Gumusluk International Classical Music Festival, held in Bodrum each year, deserves special note. It draws a large number of skilled performers from all over the world, as well as classical music fans. The festival is held at the stunning 2500-year-old Antique Koyunbaba Stone Quarry. Bodrum is located on the Aegean Sea, and its temperatures reach dizzying heights. The average summer temperature is 34 degrees Celsius, although it has been known to exceed 45 degrees Celsius! Winters are moderate around 15 degrees Celsius, so it's a wonderful alternative if you don't enjoy the cold.If you want to work or raise a family, the city is a wonderful choice because it is accessible to all of the required resources. However, if you want to retire somewhere more rural, the bigger region has lots of possibilities.AntalyaAntalya is a well-known tourist location and would be great for anyone considering opening a restaurant or hotel. Of course, this means the employment will be seasonal, but it still provides tremendous prospects. This Antalya park amphitheater is part of a more than 25-kilometer picturesque waterfront walk that runs along the Gulf of Antalya. Antalya and other beach communities in the region draw many expatriates who want to enjoy the splendor of living on Turkey's turquoise coast.The city itself is clean and safe, and there are weekly food markets, which assist to keep the cost of living low. If you want to work, the city is a preferable option because of its faster internet connections and public transportation network. The Antalya coastline would be an excellent alternative for retirees. It has an abundance of natural beauty places, fishing villages, and fantastic rural treks for those looking for a good time. All of this is supplemented, as one might anticipate, by fantastic restaurants and shopping choices.In fact, if you enjoy outdoor sports, you can attempt to conquer the Antalya to Fatty path, which is one of the world's longest single treks. At 320 miles, you might need a few hits to complete the journey. Two of Turkey's nicest beaches are located in Antalya province: Konyaalti and Lara. There are also many hidden beauties that do not attract as many people.Because it is near the Mediterranean shore, it has a milder climate and significantly less temperature spikes. It frequently reaches temperatures of roughly 28 degrees Celsius in the summer and seldom falls below 10 degrees Celsius in the winter. Living in the city or its outskirts will cost more than living elsewhere in the Antalya area, but a family may still live comfortably in the city for less than you'd anticipate. The coastline region is one of the most popular regions in Turkey for property sales to foreign retirees, and it's simple to understand why.IzmirIf retiring in Turkey is your goal, Izmir is the place to be. It's one of Turkey's major cities, with all the advantages that go with that status. Izmir is generally known as the most Western-oriented Turkish metropolis. Importantly, it has excellent national and international transportation linkages and is a popular cruise port. If you don't want to use the bus, there are lots of walking pathways across the city. Along with the city, there is the Izmir metropolitan region. This includes several smaller places that may be more suited to a retired lifestyle. Fortunately, they remain well connected to the metropolis.Izmir lies on the Aegean Sea, so it has all the advantages you'd expect. These include a variety of watersports, sailing options, and a pleasant temperature. It normally reaches 33 degrees Celsius at its peak in the summer and dips to roughly 13 degrees Celsius in the winter. It can get a little wet in the cooler months, but it's a pleasant contrast from the dry summer months. Popular expat places for beach life away from the city include Cesme, Kusadasi, and Foca, or if you want to be active, Alacati (Turkey's surfing capital) is a fantastic alternative.If you are willing to do some searching, you will also come across some appealing home pricing. And, because Izmir is frequently referred to as one of Turkey's most westernized regions, speaking with estate brokers will be a lot easier than elsewhere.Marmaris Marmaris is situated on the Turkish Riviera in southwest Turkey. As you'd expect from such a designation, it comes with a sense of exclusivity and lifestyle available only on other Rivieras. The city is a national center for sailing and diving, and it is a favorite wintering destination for boaters. It features several beaches and tiny marinas that are suitable for storing a boat. However, if you prefer more land-based activities, Marmaris has you covered there as well. There are alternatives for biking, safari trips, climbing, kayaking, and much more to keep you busy. The region also has a rich natural heritage. Nimara Cave on Heaven Island, which is just off the coast of Marmaris, is a special highlight. It has been a place of religious worship for thousands of years and is well worth a visit.Marmaris also boasts several historical sites, making it ideal for history buffs. It was an important place for the Ottoman Empire, and many of its buildings (such as Marmaris Castle) reflect this. Of course, the weather is vital, and you will not be disappointed here. Summers can reach the mid-30s, while winters often plummet to approximately 15 degrees Celsius. Winter is the rainy season, yet it's a nice relief after the sweltering summer.Marmaris is a popular tourist destination, with up to 400,000 tourists each year. This may or may not be a good thing depending on your point of view, but it does imply that there are chances to start tourism-related enterprises if you so choose. AlanyaAlanya is a city and province in Turkey's Mediterranean south coast. It's around 133 kilometers from Antalya and is one of the fastest-growing expat destinations. Alanya has a very spectacular medieval castle, amazing beaches and mountains ideal for an active outdoor lifestyle, and a highly tempting cost of living.Alanya, while a city, is a tiny one. This means it has a lot of rural-feeling suburbs with relatively affordable property prices. Places like Mahmutlar are among the lowest in Turkey. It's an excellent alternative for individuals looking for an active lifestyle because there are several walking trails and, of course, watersports. There are also other yearly festivals, such as a jazz festival and an international culture festival.Expats from other nations make up a fairly big section of the province's population, with many of them retiring there. According to the latest current census, more than 17,000 foreigners own property in the city. Many people are likely to be lured to Alanya by its blend of rural regions, superb facilities, inexpensive property costs, and good international connections. In summary, Alanya provides practically everything you might want in a Turkish retirement paradise.BursaMany Europeans favor the west side of Turkey because it is more cosmopolitan. However, if you want a true flavor of Turkey, Burse is ideal. It was the second capital of the Ottoman Empire in the 14th century, and it has maintained ties to that past. Because of the concentration of Ottoman architecture, the entire city has been designated a UNESCO World Heritage Site. There are several mausoleums, palaces, and houses worth seeing.But, being a metropolis, it also boasts a lot of green space. Because of the local government's commitment to protect natural places including parks and woods, it's known as Green Bursa. This makes it a wonderful family vacation because it doesn't feel too metropolitan.Skiing is a unique advantage in Turkey. The city's skyline is dominated by Uludag Mountain, which has a ski resort. So, if you want to live in Turkey but don't want to give up your winter activities, this may be the place for you. Because the city was late in creating its property market, it is especially beneficial to younger expats and those with families. This implies that property costs remain extremely cheap, making them perfect for first-time purchasers.Bursa's temperature normally reaches 31 degrees Celsius in the summer and 10 degrees Celsius in the winter. If the temperature gets too hot, you may easily escape for a short drive to a pleasant altitude. While it may not be your preferred career path, Bursa is Turkey's largest automobile production hub. It is home to plants for Kia and Renault, as well as factories for Bosch and Coca-Cola. In a nutshell, there are always lots of job prospects.One possible disadvantage is that there are no particular foreign schools in Bursa. It is significantly more in touch with its traditional roots than locations further west, and almost every school teaches in Turkish. However, if you already know some Turkish and are prepared to learn more, Bursa provides an entirely different taste of national culture than you may be used to.The finest locations to live in TurkeyEven in more westernized sections of Turkey, you may expect a significant cultural shift. All save the most tourist-heavy places preserve its language and lifestyle, and it's crucial to do plenty of study to guarantee it'll be a good fit for you. But whether you're planning to retire or work in Turkey, there are lots of great options.Reaching out to expats in the nation is an excellent approach to get the proper answers to your inquiries. Turkey is a surprisingly welcoming location for both natives and expats. So, look for expat communities, travel about the nation for a bit, and maybe consider renting a property or two to get a feel for the location.Given that you are seeking for a permanent residence, this is not a decision to be taken lightly. But, with the correct preparation, you'll be sure to have a great new life in Turkey.

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St Kitts Nevis Citizenship : How To Get and Complete Guide
St Kitts Nevis Citizenship : How To Get and Complete Guide

St Kitts Nevis Citizenship is the oldest investment citizenship program in the world. This program was first initiated by a Caribbean country in 1984 with the aim of supporting the growth and expansion of the public and privately managed economic sector. Currently, St Kitts & Nevis is highly trusted because it has a strong track record in issuing a second citizenship to investors at the international level. Making a significant economic contribution to the country, must be met in advance by someone who wants to get the St Kitts Nevis Citizenship program. In return, applicants for this program will obtain full citizenship subject to the submission of the application including a thorough examination. There is one thing you should also know, namely the St Kitts Nevis Citizenship program has special restrictions for potential investors or applicants from Iran and Afghanistan.St Kitts Nevis Citizenship benefits What's great about St Kitts Nevis Citizenship is that applicants don't have to take a language test or anything, and they're not required to live or visit the country. However, St Kitts Nevis Citizenship holders can vote, purchase property, obtain a second citizenship, live and work in the country concerned. In addition, the St Kitts Nevis Citizenship program also has several other advantages, such as:Obtain permanent resident status.Have dual citizenship which can also be passed on to newborns at once.A very profitable tax system. Especially for investors who already have a second passport to live in the country permanently, there is no inheritance tax, gift tax, income tax, and wealth tax or capital gains tax.Have easy access if you want to go to the United States and Canada.Have visa-free access to more than 150 countries and territories, including the UK and Schengen areas.Can invest at affordable costs and get a choice of investment options that not all European countries offer it.Program holders can invest in a secure country passport, stable economy, and low crime rate.Get a second passport within 3-4 months, even if you use the application, you will get a second citizenship in just 45 to 60 days.Complete confidentiality. The local government will always hide the citizenship and passport information of its investors. Requirements that must be metBefore getting the various benefits, you must know what are the requirements for making St Kitts Nevis Citizenship. Here are the conditions:Applicants must be at least 18 years of age and must pass due diligence in order to obtain approval.Have a legitimate source of funds for investment purposes and payment of government levies. The source of these funds must also be proven in the form of the attached document.Applicants must be clear of criminal and immigration records.Have good health and no dangerous chronic diseases.If you have dependent children, they must be under 30 years old. Then if you have parents you must be over 55 years old and if you have unmarried siblings, you must be under 30 years old. How to create or register St Kitts Nevis CitizenshipPlease note, in the management of the creation of St Kitts Nevis Citizenship, the state only accepts official and international marketing agents. Therefore, look for agents who are truly trusted and already have a clear track record such as Ng Global Citizens. The initial stage after you choose and work with a trusted marketing agency, you can attach all the necessary documents. At this point, the document should have been compiled and translated. Therefore, to take care of it, you can ask the marketing agency of your choice for help.After all the documents are deemed complete, you and the marketing agent can immediately apply for an application. The speed of approval depends on the suitability of the data that you have filled in a particular form and the documents you have attached.In addition, at this stage you also have to pay a fee for due diligence after receiving the application. Usually, government authorities will issue test results after 3 to 4 months. However, if you don't want to wait too long, you can apply for an expedited process by paying an additional fee and waiting a maximum of 60 days. If you pass the due diligence, you will get an official confirmation.After all the documents and due diligence have passed, you can immediately make investments according to the selected option. Usually this investment runs within 2-4 weeks.If the investment process has been carried out and meets the criteria for the St Kitts Nevis Citizenship program, then you will get a naturalization certificate. At this point, marketing agents can directly apply for a passport for investors. If you are ready, you can pick up your passport at the agent's office or wait for it to be delivered to the place according to the agreement.St Kitts Nevis Citizenship Program Investment OptionsThere are 3 investment options offered by the St Kitts Nevis Citizenship program and not all European countries provide them. Anything? Here's an explanation of the types:1. Real estate investmentThis real estate investment has 2 types of holdings. The first is detention with a term of 5 years. Investors must purchase government-approved properties for a minimum of US$400,000 or they can purchase real estate development shares for the same value. This investment must last a minimum of 5 years.Then the second is a 7-year detention period, which requires investors to invest a minimum of US$200,000 in a luxury resort that has been approved by the government and is valid for a minimum of seven years. Not only that, in this investment option in both categories, investors still have to pay taxes and other applicable additional fees.2. Sustainable growth fundInitially, this investment option was created for the devastation of a hurricane in the Caribbean in 2017. Then today, sustainable growth funds are used as donations with thresholds:US$150,000: single applicantUS$25,000: coupleUS$10,000: each additional dependentAnd the fees for the due diligence are:US$7,500: principal applicantUS$4,000: for dependents over 16 years oldUS$4,000: for financial sponsor3. Alternative Investment Options (AIO)The AIO or Alternative Investment Options has the objective of meeting capital investments through infrastructure projects that meet the requirements. With an investment of US$175,000, the investor has met the requirements of a single applicant, along with 3 family members for Saint Kitt & Nevis citizenship. If there are other relatives of the main applicant, the investor must incur additional dependents of US$10,000 and US$20,000. Then for processing fees, additional due diligence fees, and application fees are adjusted for real estate options.

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Portugal Golden Visa: How To Get, Requirements, Terms and Conditions
Portugal Golden Visa: How To Get, Requirements, Terms and Conditions

Portugal Golden Visa is a visa as a permit to reside in Portugal and is specially made for citizens of non-EU (European Union) countries. This visa can be issued if the nationals of that country carry out significant investment activities for Portugal. Investments vary, they can be in the form of buying real estate, providing employment, or investing in shares as capital. Portugal Golden Visa was chosen because it is a fast way to get citizenship and residence in an EU country in just 5 years. Portugal Golden Visa BenefitsThis type of visa also has several benefits, such as:1. Find a place to live and work in an EU countryBy applying for a Portugal Golden Visa, you can get a residence from an EU country, along with a passport and the full benefits of its citizenship without any restrictions. In this way, you can access the single market and join a stable community for a safe, prosperous and democratic life in the EU country.In addition, with the Portugal Golden Visa, you can also get a job and do business in this country. When you do business in the EU, you enjoy free movement of labour, services and goods, as well as free access to over 450 consumers. 2. Access to Health and Education ServicesPortugal is known for its high quality health and education services. Even in terms of health, Portugal managed to occupy the third position for patient care and medical infrastructure according to the World Index of Healthcare Innovation 2021. Interestingly, the health care system in Portugal is fully funded by the public, or often called Servico Nacional de Saude (SNS), which ultimately makes all citizens are entitled to easy access to health services, including holders of the Portugal Golden Visa.Apart from health, Portugal Golden Visa holders can also access all national services such as education. Of course this is a very profitable thing, considering that Portugal is one of the countries with high quality at all levels of education. This is evidenced by the literacy rate which reaches 99.44 and Portuguese students who always score above average on the PISA test. 3. Live in the Country with the Lowest Cost of Living in Western EuropeAs a holder of a Portugal Golden Visa, you can live in the country with the lowest cost of living in Western Europe, without having to sacrifice your quality of life. In Portugal, all costs are relatively cheap, from food, clothing, recreation, social activities, transportation, to health care.4. Visa Free when Traveling in Europe Another benefit of having a Portugal Golden Visa is that you can go anywhere in the European Union without having to use a visa. Some non-schengen countries will also allow you to enter visa-free, if your residence permit is still available and active. By applying for a Portugal Golden Visa and getting a Portuguese visa in five years, you will also be able to travel visa-free to over 100 countries.Requirements for Applying Portugal Golden Visa Portugal Golden Visa may only be applied for by a few eligible investors. The requirements to apply include:Investors must be over 18 years old.Must make significant and beneficial investments for the Portuguese economy.Must have money that matches your type of investment.Investors must be clean of criminal records.Investors must commit to reinvesting for at least the next five years.Well, for the terms or types of investment are very diverse, here are the kinds: Purchase a minimum of โ‚ฌ500,000 worth of property, but if the area density is low it changes to โ‚ฌ400,000.Make a capital transfer of at least โ‚ฌ1 million to a Portuguese bank account.Buy shares or invest at least โ‚ฌ1 million in a company.Create a minimum of ten jobs for Portuguese citizens.Provide a capital transfer of at least โ‚ฌ350,000 for interests in the fields of science and technology, and channel it through public and private scientific research institutions.Provide a transfer of capital for the benefit of activities in the field of art or reconstruction of the national heritage of at least โ‚ฌ250,000.Invest a minimum of โ‚ฌ350,000 for the establishment of a commercial company or as a fund to support the activities of the company which will later create five full-time jobs.Documents to be Prepared In addition to the requirements above, you also have to prepare some important documents first. These documents include:Official Portugal visa application form which can be downloaded from the Portuguese visa portal.A valid passport with real identity.Two passport-sized photographs that meet the requirements for making a Portugal Golden Visa.Evidence to show that you have obtained health insurance in Portugal.Proof that you have no criminal record. In this case, it is in the form of an official certificate from the country of origin issued in the previous three months and has been translated into Portuguese.A written statement that you are ready to maintain the investment for a minimum period of five years.Receipt of payment from the ARI portal.Documents related to the type of investment you choose, such as a statement from a financial institution.Order of Making Portugal Golden Visa After all the requirements are met and the required documents are complete, the following is the order in which the Portugal Golden Visa is made.Come to Portugal and choose the type of investmentYou, or you can be represented by a lawyer, must come directly to Portugal to choose the type of investment that suits your readiness. For example, you want to invest in real estate, then you have to visit the property section.Setting up a Portuguese bank account and tax numberIn this case, you have to go to your local tax and customs office and fill out a form for a tax number. For the account, you can take care of it at a trusted financial institution in Portugal and submit income and identity documents.Complete the investment processPlease note, the investment process takes months and you must complete it to get an application document for making a Portugal Golden Visa.Apply Portugal Golden VisaAt this point, you can apply for a Portugal Golden Visa at the Immigration and Border Service (SEF). You can register on the ARI portal by attaching an electronic copy of the required documents. After that, take care of the relevant payments while waiting for confirmation from SEF. If so, you can make an appointment at your local SEF branch.Receive permission to stayTo receive a residence permit, you have to wait for 3 to 6 months after making the application. This permit card is valid for one year and can be extended for a maximum of five years. With this card, you can live, work and experience other benefits as a citizen of Portugal.- Apply for Portuguese citizenship /permanent residencyYou can get permanent citizenship after five years of investing. At this point, you should demonstrate your ties to Portugal by passing a general knowledge test and being able to speak Portuguese at A2 level and understanding local laws and regulations.

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Second Citizenship : How To Get and Complete Guide
Second Citizenship : How To Get and Complete Guide

Second Citizenship or second citizenship status means that a person has a passport from several countries. So that other citizenships in any country are still considered second. Often considered the same, it turns out that second citizenship is different from dual citizenship or dual citizenship. The difference between second citizenship and dual citizenshipWhat's the difference? The difference between second citizenship and dual citizenship lies in the recognition of status in the country concerned. In dual citizenship, their existence status is recognized by the state, therefore someone with dual citizenship must obtain their rights and obligations in the relevant country in official rules. As for second citizenship, the opposite applies, namely the state does not consider its existence status so that it does not recognize the rights and obligations of bipatride in relation to other countries. In this case, of course, it will greatly affect the determination of criminal law and responsibilities such as fines, if things happen that are not desirable. Another difference between the status of second citizenship and dual citizenship lies in the background. Dual citizenship can occur because it is based on bilateral relations between countries that have been bound in an agreement. Because they are legally bound, someone with dual citizenship can choose which country they want for, for example, military service, and their offspring when born will immediately receive two passports. In contrast to second citizenship, these things cannot be obtained because there is no official agreement from the two countries concerned. Usually, second citizenship can occur on the basis of following certain programs, such as investment, naturalization, volunteering, and marriage. After knowing the general difference between second citizenship and dual citizenship, the following is an explanation of the advantages and disadvantages of adopting these two types of citizenship:The advantages and disadvantages of dual citizenship or dual citizenshipAs previously explained, a person with dual citizenship has the advantage of access in both countries and has been officially recognized, so that he can receive rights from the two countries concerned. However, it should be noted that the rights of a person with dual citizenship cannot be used simultaneously. For example, he can only work where he lives (country A) and of course he will not receive benefits from country B. Not only that, another advantage of having dual citizenship is that you can freely travel to both countries without using or applying for a visa first. Then, a person with dual citizenship can also build and develop a business in both countries and has the right to send a request for diplomatic assistance for the purposes of the mission of the two countries if he is in a third country. As a good citizen, do not forget about the obligations to the state that must be done. In contrast to the rights received, a person with dual citizenship only has civil obligations in the country where he lives. For example, a citizen of that country lives in country A, then he is only responsible for paying taxes and carrying out mandatory military activities in country A and does not need to fulfill several regulations in country B.Disadvantages and advantages of second citizenship or second citizenshipA person with second citizenship will be able to get benefits that are not accepted by bipatride, namely being able to travel without a visa in the Schengen area countries, the UK, the United States, or one of the countries in the European Union for a lifetime. However, it should be noted that these advantages are provided on several important grounds. Cosmopolitan countries will usually accept someone with a second citizenship for many things such as working abroad, traveling freely around the world, providing opportunities for children to receive quality education and work in another country, and preparing a plan B if the place the origin of the resident is experiencing instability. Even cosmopolitans also accept someone with a second citizenship to optimize taxes, enjoy social security in both countries, and open accounts and businesses overseas. Well, after knowing about the advantages, it turns out that second citizenship also has disadvantages. This shortcoming stems from the fact that the bipatride nature of the second citizenship is privately owned, so it is still recognized individually by both countries. In other words, someone who adheres to second citizenship must carry out obligations like the army in the two countries concerned. Not only that, someone with a second citizenship will also not be able to get a high position in the seat of government. For example, they cannot work in the prosecutor's office, become a parliamentarian, or gain access to and know state secrets.Responsibility with second citizenshipBefore knowing the obligations of a second citizenship, keep in mind that the concept of second citizenship is hidden. In this sense, the country that grants citizenship usually does not report to the authorities of other countries so that the executive body does not know about it. Therefore, this fact must not be revealed, because it can cause the state to impose fines or penalties in accordance with applicable law. Now, for his obligations, a second citizenship must still be responsible for maintaining his status and complying with regulations in two countries at once. For example, the case is paying taxes. A second city zenship must pay taxes in both countries if he resides in country A but still earns profits from business in country B. It is different if he has no source of income in country B, then he is only obliged to pay taxes in the country where he lives or country A.How to get a second citizenshipThere are many reasons why someone chooses for a second citizenship system, such as still wanting to return to their home country, marriage to a foreign national, and only staying for a few years or temporarily. To get a second citizenship status, there are several conditions and methods that can be done, this adjusts to state regulations. However, usually the method used is to establish business relationships such as investments or contributions whose funds are not related to the government, real estate purchases and so on. There is something interesting about this business relationship, namely that investors do not need to take a knowledge test such as language skills, even investors' families are also allowed to participate and later get a second passport. Some general requirements that must be met by potential investors and second citizenship are:Have no criminal record;Clean reputation;No denial of visas or citizenship; andMoney earned legally for investment. Usually, to find out whether these requirements have been met or not, investors will undergo a complete test first, before being able to get a second citizenship status in many countries in the world. Well, that's a complete explanation related to second citizenship or second citizenship. Starting from the difference with dual citizenship, the advantages and disadvantages, to the obligations and requirements that must be met to be able to get this practical bipatride status.

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Investing in Indonesian property through a PMA company
Investing in Indonesian property through a PMA company

There are a number of ways to invest in Indonesian property, one of the best ways to invest in property in Indonesia is through the PMA company. Foreigners can invest directly in Indonesian property if it is owned by PT PMA โ€Penanaman Modal Asingโ€, or foreign investment company which is under their control. The difficulty with this approach is that the property can only be used for the purpose specified in the original application to form the PMA company. so you may need to find out best fit PMA company accordance with your Investment purpose, PMA companies cannot hold Hak Milik "Right of Ownership'' or Freehold. When freehold land or property is sold to a corporate entity the title is changed into a  HGB โ€œHak Guna Bangunanโ€, or Right to Build. In Indonesia, Hak Milik, which means Right of Ownership or Freehold Titled, is the highest number of land titled in Indonesia. Only Indonesian citizens can use this benefit. This means that foreigners can never own property in Indonesia forever. But if you own a PT PMA company, you can buy a property and get a title called HGB Hak Guna Bangunan โ€œRight to Buildโ€, which is the highest title a foreigner can get. If you use Hak Guna Bangunan, the Indonesian Land Office will write the name of your PT PMA company on the land certificate, not your name. Only Indonesian or foreign businesses with a PT or PT PMA can get this privilege. It is good for 30 years at first, can be extended for another 20 years, and can be renewed for another 30 years, for a total of 80 years. Having an HGB title is great because it makes you feel like you own the land. You can change the HGB title to a Hak Milik title for a small fee (or vice versa). This means that your company has a Freehold certificate. The land value of an HGB title doesn't go down over time like it does with a Hak Sewa (leasehold) title. You might be able to sell your HGB (or converted Hak Milik) title for the same price or even more in 20 years. This means you could buy a home with an HGB title right now, rent it out for the next 5 years and make money from the rent, and then sell the property for more than you paid for it after 5 years (given that land prices are rising over time). If there is a problem with the property you bought through PT PMA, the law will protect you and your purchase. This is important because if you buy land or a villa through a local nominee setup, this is the risk you are taking. Using the nominee structure, in which a local is registered as the official owner of the Hak Milik title, many foreigners try to buy a Freehold property. This is a common way to do business, but it is against the law and won't protect the foreign buyer if something goes wrong. We suggest that you think about an HGB purchase instead of a nominee structure so you don't have to take such risks. After all, you don't want to risk your investment in a home and get into trouble because of it. HGB can be used for single-family homes, but their main purpose is to help foreign and domestic property developers who want to build a lot of homes. The HGB is for businesses, while the Hak Milik title is for people who own property on their own. So, a PT or PT PMA firm name is used instead of a person's name as the title holder. So, the property becomes part of the company's assets and has a stronger connection to how much tax the company pays. Foreigners can also legally get a Hak Sewa (Right to Lease) title if they want to buy a villa. This means that as a foreigner, you can legally own the property in your own name, without having to start a business. Depending on its license, a land or villa bought through a PT PMA firm can be used as a spa, restaurant, or villa development to rent out or sell for a profit. Published By Derry KhudloriBanner Photo By Ramdhani Arifin

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