Investment Migration – From: Turkiye

There are several reasons why millionaires may be leaving Turkey:

  1. Economic downturn: Turkey’s economy has struggled in recent years, with high inflation and continual devaluation of the Turkish Lira. This may make it difficult for millionaires to maintain their wealth and invest in the country.

  2. Business Opportunities: Millionaires often search for environments that offer favorable business opportunities, including access to international markets, a robust legal framework, and supportive regulations. These conditions lacking in Turkiye, prompts them to move elsewhere.

  3. Taxation and Financial Considerations: High Tax rates or changes in Tax policies influence millionaires’ decisions to relocate. They seek countries with more favorable and stable tax regimes and better wealth management opportunities.

  4. Legal issues: Some millionaires may be leaving Turkey due to legal issues, such as investigations or prosecutions for corruption or other crimes.

  5. Political Instability: Turkey has experienced political turmoil in recent years, including a failed coup attempt in 2016 and a crackdown on the opposition. Many millionaires may be concerned about the impact of this instability on their businesses and investments.

  6. Personal safety: Turkey has experienced a rise in crime in recent years, which may make some millionaires feel unsafe or insecure.
  7. Education and Lifestyle: Wealthy individuals often prioritize high-quality education and a desirable lifestyle for themselves and their families. If they perceive that these factors are better available elsewhere, they may choose to relocate to countries with renowned educational institutions and an attractive living environment.

Overall, the reasons for millionaires leaving Turkey are complex and multifaceted, and vary depending on individual circumstances.