For tech professionals and entrepreneurs considering a move, Türkiye’s newly launched Tech Visa Program could simplify your transition. This initiative provides a three-year work permit aimed at attracting individuals with exceptional technological expertise and innovative business models. Here’s a comprehensive overview of what you need to know about this new opportunity.
Key Features of the Tech Visa Program
- Three-Year Work Permit: The primary benefit of the Tech Visa is a three-year work permit, allowing tech professionals and entrepreneurs to live and work in Türkiye. This extended permit supports long-term projects and business establishment.
- Simplified Residence Permit Processes for Families: The program facilitates easier residence permit processes for family members, ensuring that tech professionals can settle in Türkiye with their loved ones.
- Tax Exemptions: Participants in the Tech Visa program benefit from exemptions on income tax and corporate tax, significantly reducing the financial burden on new businesses.
- Free Comprehensive Healthcare: The program includes access to Türkiye’s healthcare system, with insurance premiums covered by the government, providing substantial savings and peace of mind.
- Office Space in Technoparks and Incubation Centres: Start-ups can access state-of-the-art office spaces within technoparks and incubation centres, fostering innovation and providing a collaborative working environment.
- Support for Venture Capital Investments and Project Financing: The program offers support for securing venture capital and financing for projects, helping to fuel business growth.
- Mentoring and Consultancy Services: Participants receive six months of free legal and financial consultancy services to navigate the complexities of establishing a business in Türkiye.
Türkiye’s Ambitious Tech Goals
Türkiye has set an ambitious goal to cultivate 100,000 tech-driven start-ups by 2030, with at least 100 of them reaching valuations over $1 billion. Mehmet Fatih Kacır, Minister of Industry and Technology, emphasized that the Tech Visa aims to attract top tech talent and innovative business models to support this vision.
“We are expediting their process of living and working in Türkiye, allowing them to embed themselves in the local community and envision long-term prospects,” Kacır said.
A notable development is the establishment of Terminal Istanbul, the world’s largest technopark, set to be built at Istanbul’s airport. This project will position Türkiye as a pivotal hub for tech entrepreneurship.
Dual Benefits of the Tech Visa Program
Vedat Işıkhan, Türkiye’s Minister of Labour and Social Security, highlighted the dual benefits of the Tech Visa program. Not only does it attract global talent and ventures, but it also leverages their expertise to enhance the local workforce and innovation ecosystem.
Cost of the Tech Visa
While specific costs for the Tech Visa are still emerging, work and long-term residence permits in Türkiye generally cost around 7,345 Turkish Lira (approximately Rs 18,000) per year. Detailed information about the Tech Visa’s cost will be released as the program develops.
Advantages of the Tech Visa Program
According to Evren Özmen, co-founder of Istanbul-based consultancy firm Kemal & Evren Özmen Müşavirlik, the Tech Visa offers several key advantages:
- Extended Work Permit: The three-year permit simplifies the process for tech professionals and start-ups, reducing the need for frequent renewals and allowing entire teams to relocate.
- Welcome Consultancy Service: Moving to a new country can be daunting. The program provides consultancy services to assist with legal, tax, and logistical challenges.
- Office Opportunities in Technoparks: Access to modern facilities in technoparks is a significant benefit, providing a conducive environment for start-ups.
- Tech Visa Fund: Start-ups can apply for financial support through the Tech Visa fund for product development and scaling.
- Government Support: Various forms of financial assistance, including project financing and branding support, are available.
- Tax Exemptions: Participants enjoy tax incentives such as VAT, corporate tax, and customs tax exemptions.
- Free Healthcare: Employees under the Tech Visa are covered by Türkiye’s healthcare system, with insurance premiums paid by the government.
Comparison with Other Tech Visa Programs
Several countries offer similar visas to attract tech talent:
- United Kingdom – Global Talent Visa: Designed for leaders in digital technology and other fields, allowing skilled professionals to live and work in the UK without a job offer.
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- Canada – Global Talent Stream: Offers a fast-track work permit process for tech professionals, often approving visas in as little as two weeks.
- Portugal – Tech Visa: Targets non-EU tech talent, streamlining the recruitment process for Portuguese tech companies.
- France – French Tech Visa: Provides a four-year, renewable residence permit for start-up founders, employees, and investors.
- Germany – EU Blue Card: For highly skilled workers, including tech professionals, with a university degree and job offer.
- Estonia – Digital Nomad Visa: Allows remote workers, including tech professionals, to live in Estonia while working for clients outside the country.
- Spain – Startup Visa: Aims at entrepreneurs and investors in tech and innovation sectors.
- Australia – Global Talent Visa: Targets tech professionals in fields like AI and cybersecurity, offering permanent residency.
- Italy – Startup Visa: Designed to attract entrepreneurs to launch innovative start-ups in Italy.
- United Arab Emirates – Golden Visa: Offers long-term residency to tech professionals, investors, and entrepreneurs as part of a broader economic diversification strategy.
Türkiye’s Tech Visa Program represents a significant opportunity for tech professionals and entrepreneurs seeking to establish themselves in a thriving innovation hub. With its comprehensive support and attractive benefits, it positions Türkiye as a leading destination for global tech talent.
