Investor Guide – Russian Investors – September 2026

Investing in Türkiye: A Practical Guide for Russian Investors

Opportunities, incentives, tax and legal protection — explained clearly

15 September 2026

Türkiye and Russia share deep and growing commercial ties. In May 2026, Türkiye’s Ministry of Trade and the Russian Ambassador to Türkiye reviewed bilateral trade opportunities and new areas of economic cooperation, reaffirming their commitment to relations that are sustainable and mutually beneficial.^[8] Business discussions in July 2026 further highlighted real estate, logistics, healthcare and urban renewal as priority areas for Russian investment.^[2]

For Russian entrepreneurs, families and companies, Türkiye offers an accessible and well-connected base between Europe, the Middle East and Central Asia. This guide explains, in practical terms, where the opportunities are, how to structure an investment, which incentives and tax rules apply, and how your investment is protected.

How Can You Invest in Türkiye?

Türkiye’s foreign direct investment framework is built on equal treatment. International investors may establish any company type provided under the Turkish Commercial Code, and the conditions for setting up a company or transferring shares are generally the same as for local investors.^[1] In practice, Russian investors usually choose one of the following routes:

• Set up a new company — typically a limited liability company (Ltd. Şti.) or a joint stock company (A.Ş.), which can be 100% Russian-owned.
• Acquire shares in an existing Turkish company.
• Form a joint venture with a Turkish partner.
• Open a branch or liaison office of an existing Russian company.
• Invest directly in assets such as real estate, energy projects or other sector-specific developments.

The right structure depends on your commercial goals, tax position, banking needs and exit plans. Deciding this at the outset avoids costly restructuring later.

Key Sectors for Russian Investors

Real Estate and Urban Development

Real estate remains the most visible area of Russian investment in Türkiye. At a Türkiye–Russia Business Council event in July 2026, participants reported that Russian investor interest in Turkish property had risen by around 20% since the beginning of 2026, with Istanbul, Antalya, Mersin and Bodrum among the main destinations. Urban renewal was also identified as an area with strong potential for bilateral cooperation.^[2]

Before buying, a proper legal review should confirm title ownership, mortgages and other encumbrances, zoning and construction status, and any restrictions that apply to foreign ownership.^[6] These checks are straightforward when done early — and very expensive to fix after the purchase.

Energy and Energy Infrastructure

Energy is one of the most established areas of Russian investment in Türkiye. The Akkuyu Nuclear Power Plant illustrates the scale: according to Türkiye’s Ministry of Energy, the project involves approximately USD 20 billion in Russian capital and has an installed capacity of about 4,800 MW.^[9]

Opportunities also extend well beyond existing bilateral projects. Türkiye aims to reach 120 GW of combined wind and solar capacity by 2035, and around 33 GW of battery-integrated wind and solar projects are at the pre-licensing stage. This opens the door to investment in renewable generation, energy storage, infrastructure and related technologies and services, subject to licensing and regulatory requirements.^[10]

Logistics and Transportation

Türkiye’s location between Russia, Europe, the Middle East and the Mediterranean makes it a natural hub for logistics, warehousing, distribution and transport infrastructure. Logistics was specifically identified at the July 2026 Türkiye–Russia Business Council event as an area for expanded investment cooperation.^[2]

For Russian companies engaged in regional trade, Türkiye can serve as a base for distribution centres, storage facilities and logistics operations serving several markets at once. Trading and logistics businesses may also consider Türkiye’s free zones, which operate under Free Zones Law No. 3218 and offer customs and certain tax advantages for qualifying activities.

Healthcare and Medical Infrastructure

Healthcare was also named at the July 2026 Business Council event as a sector with potential for greater bilateral investment.^[2] Opportunities include private healthcare facilities, medical infrastructure and healthcare-related services, subject to Türkiye’s sector-specific licensing rules.

Investment Incentives: What Support Is Available?

Russian investors can benefit from Türkiye’s investment incentive system on the same basis as any other international investor. Depending on the nature, location, scale and strategic importance of the project, qualifying investments may receive support such as VAT and customs-duty exemptions on machinery and equipment, corporate tax reductions, social security premium support, financing support and land allocation.^[11]

Incentives are granted through an investment incentive certificate issued before the investment is made, so eligibility should be checked at the planning stage rather than after purchases have been completed.

New in 2026: 20-Year Income Tax Exemption on Foreign Income

Türkiye introduced a major new incentive for people relocating to the country. Law No. 7582, published in the Official Gazette on 4 June 2026, added Article 20/D (repeated) to the Income Tax Law. Under this rule, individuals who become resident in Türkiye — and who had neither a residence nor an income tax liability in Türkiye during the previous three calendar years — can have their foreign-source earnings and income exempted from Turkish income tax for 20 years.^[5]

The exemption applies to individuals considered settled in Türkiye from 1 January 2026. Exempt foreign income does not need to be declared in Türkiye. Income generated inside Türkiye — for example, rent from a Turkish property or profits from local business activity — remains taxable under the normal rules. To benefit, an application must be made to the tax office, generally by the end of the year in which the individual is considered settled in Türkiye (or by the end of February of the following year for those who settle in the last two months of the year).^[12]

Residence Permits and Citizenship through Investment

Many Russian investors want to live in Türkiye as well as invest there. Foreign nationals who own residential property may apply for a renewable short-term residence permit.^[6] Since 16 October 2023, the property must be worth at least USD 200,000, and it must be located outside neighbourhoods that are closed to new residence registrations for foreigners.^[7]

For those seeking a second citizenship, Türkiye’s exceptional citizenship-by-investment framework offers several routes, subject to the applicable conditions:^[6]

Banking, Payments and Compliance: What to Expect

In practice, opening a corporate bank account and moving funds is often the most time-sensitive step for Russian investors. Turkish banks apply enhanced due-diligence procedures to Russia-related clients and transactions, reflecting their exposure to international sanctions regimes and correspondent-banking requirements.

Well-prepared applications move much faster. Banks typically expect a transparent ownership structure, a credible business plan, documented source of funds, and clarity on counterparties and payment flows. A company set up with these requirements in mind — including suitable directors, authorised signatories and accounting arrangements — is far better placed to open and keep its banking relationships.

Sanctions screening of counterparties, suppliers and target assets should also form part of the planning, so that the investment remains compliant and bankable over the long term.

Tax: The Türkiye–Russia Double Taxation Agreement

Türkiye and Russia are parties to the Agreement for the Avoidance of Double Taxation with Respect to Taxes on Income, signed in 1997. The Agreement entered into force on 31 December 1999 and has applied since 1 January 2000.^[13][3] Its purpose is simple: to make sure the same income is not taxed twice.

Treaty rates apply only where the treaty conditions are met.^[3]

Business profits of a Russian company are generally taxable only in Russia unless the company operates in Türkiye through a permanent establishment, such as a branch, office, factory or workshop.^[3] The Agreement also contains rules on capital gains and the elimination of double taxation. It remains fully applicable between the two countries: Russia’s 2023 suspension of certain tax treaty provisions covered only states it designated as “unfriendly”, and Türkiye is not among them.

The treaty should always be read together with Turkish and Russian domestic tax rules and the structure of the specific investment.^[3]

How Your Investment Is Protected

Bilateral Investment Treaty

The Türkiye–Russia Bilateral Investment Treaty was signed on 15 December 1997 and has been in force since 15 May 2000.^[4] Treaties of this kind generally provide protections such as fair and equitable treatment, protection against unlawful expropriation, the free transfer of investment-related payments, and access to international arbitration for investor–state disputes, subject to their specific terms.

Commercial Disputes and Enforcement

Both Türkiye and Russia are parties to the 1958 New York Convention, which makes international arbitration a reliable choice for cross-border contracts: an arbitral award can be enforced in either country under a common framework.^[14] Foreign court judgments may be enforced in Türkiye under Law No. 5718 on International Private and Procedural Law, subject to conditions including reciprocity.^[15] Both countries are also parties to the Hague Apostille Convention, which simplifies the use of Russian public documents in Türkiye.^[16]

Judicial Cooperation

Türkiye and Russia signed an Agreement on Mutual Legal Assistance in Criminal Matters and Extradition in Ankara on 1 December 2014.^[17] Cooperation remains active: in June 2026, Türkiye’s Minister of Justice and the Prosecutor General of the Russian Federation met in St. Petersburg and signed a protocol to further develop mutual legal assistance.^[18] Both countries are also parties to the United Nations Convention against Transnational Organized Crime, Article 18 of which provides a framework for mutual legal assistance.^[19] Which mechanism applies in a given case depends on the nature of the proceedings and the relevant bilateral, multilateral and domestic rules.

Your Legal Checklist Before Investing

• Choose the right vehicle: company, branch, joint venture or direct asset acquisition.
• Carry out legal and financial due diligence on any target company, partner or property.
• Plan banking, payment flows and sanctions screening before any funds are transferred.
• Confirm sector-specific licences and regulatory approvals.
• Check eligibility for investment incentives and treaty tax benefits before investing.
• Plan residence permits, work permits and — where relevant — the 2026 foreign-income tax exemption for key individuals.
• Agree clear governing-law and dispute-resolution clauses in all key contracts.

Frequently Asked Questions

Can a Russian citizen own 100% of a Turkish company?

Yes. International investors may establish any company type under the Turkish Commercial Code on the same terms as Turkish investors.^[1]

Does buying property give me a residence permit?

Owning residential property worth at least USD 200,000, located outside closed neighbourhoods, allows you to apply for a short-term residence permit. The final decision rests with the migration authorities.^[7]

Will my income be taxed twice?

The Türkiye–Russia Double Taxation Agreement is designed to prevent this and limits Turkish tax on dividends, interest and royalties to 10%, provided its conditions are met.^[3]

Why does opening a bank account take longer for Russian companies?

Turkish banks apply enhanced compliance checks to Russia-related clients. A clear ownership structure, documented source of funds and a credible business plan significantly shorten the process.

References

1. Presidency of the Republic of Türkiye Investment and Finance Office, “Establishing a Business.” Source
2. Anadolu Agency, “Türkiye cements its safe haven position for Russian real estate investors amid global uncertainty,” 20 July 2026. Source
3. TaxWell & Partners, “Russia–Turkey double tax treaty: practical guide for Turkish companies,” reviewed for 2026 rules. Source
4. UNCTAD Investment Policy Hub, “Russian Federation – Turkey BIT (1997).” Source
5. Law No. 7582, Official Gazette of the Republic of Türkiye No. 33270, 4 June 2026 (Income Tax Law, Article 20/D (repeated)).
6. Presidency of the Republic of Türkiye Investment and Finance Office, “Acquiring Property and Citizenship.” Source
7. Presidency of Migration Management, implementing instruction on property-based short-term residence permits, 16 October 2023.
8. Republic of Türkiye Ministry of Trade, “Minister of Trade Ömer Bolat Hosts Russia’s Ambassador to Ankara Verşinin,” 12 May 2026. Source
9. Republic of Türkiye Ministry of Energy and Natural Resources, “Frequently Asked Questions – Akkuyu Nuclear Power Plant Project.” Source
10. Presidency of the Republic of Türkiye Investment and Finance Office, “Energy,” 2026. Source
11. Presidency of the Republic of Türkiye Investment and Finance Office, “Incentives Guide,” 2026. Source
12. Income Tax General Communiqué (Serial No. 333), Official Gazette of the Republic of Türkiye, 4 July 2026.
13. Republic of Türkiye Revenue Administration, guidance confirming that the Türkiye–Russia Double Taxation Agreement entered into force on 31 December 1999 and applies from 1 January 2000. Source
14. Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958) — status of parties, UNCITRAL.
15. Law No. 5718 on International Private and Procedural Law (MÖHUK), Articles 50–54.
16. Hague Conference on Private International Law (HCCH), status tables of the Apostille, Service and Evidence Conventions.
17. President of Russia, “Law ratifying Agreement Between Russia and Turkey on Mutual Legal Assistance in Criminal Cases and Extradition.” Source
18. Republic of Türkiye Ministry of Justice, “Minister of Justice Akın Gürlek Held a Meeting with the Prosecutor General of the Russian Federation Aleksandr Vladimirovich Gutsan,” 25 June 2026. Source
19. United Nations Treaty Collection, United Nations Convention against Transnational Organized Crime – treaty text and status of parties. Source

Disclaimer: This guide is provided for general information only and does not constitute legal or tax advice. Laws, thresholds and administrative practice may change, and the application of any rule depends on the facts of each case. Specific advice should be obtained before making an investment decision. Information is current as of 15 September 2026.