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Türkiye Launches TechVisa Program to Support Global Entrepreneurs and Skilled Professionals

Olusola Blessing by Olusola Blessing
September 21, 2024
in FinTech, News
0
Türkiye Launches TechVisa Program to Support Global Entrepreneurs and Skilled Professionals
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Türkiye has introduced a new visa program designed to simplify work permits for foreign entrepreneurs and professionals in the tech industry, as part of its efforts to become a global technology hub. The Türkiye TechVisa Program, developed by the Industry and Technology Ministry in collaboration with the Labor and Social Security Ministry, aims to attract high-value tech startups and skilled talent from around the world.

The program offers three-year work permits to foreign entrepreneurs and expert employees who establish companies in Türkiye. Additionally, it provides significant incentives, including corporate tax exemptions for companies set up in tech parks or incubators and income tax waivers for employees.

Streamlining the Path for Entrepreneurs

Launched after two years of development, the Türkiye TechVisa Program is set to streamline bureaucratic processes, making it easier for early-stage startups and scaling businesses to establish a presence in Türkiye’s growing tech ecosystem. Speaking at the launch event at Istanbul Airport, Industry and Technology Minister Mehmet Fatih Kacır said, “This initiative is designed to make professionals and entrepreneurs feel at home and allow them to make long-term plans in Türkiye.”

Kacır emphasized that the program will primarily benefit Turkish tech startups and the skilled workforce. “Entrepreneurship is playing a more crucial role than ever in the development journeys of nations,” Kacır noted, explaining that high-value, innovative tech startups are key to economic growth and global market expansion.

In addition to easing work permit processes, the program provides six months of legal, financial, and technical consultancy to help foreign entrepreneurs navigate Türkiye’s public incentive programs and integrate into the local tech ecosystem.

A Push Towards Global Tech Hub Status

Kacır highlighted Türkiye’s ambition to become a global technology center, expressing confidence that the TechVisa Program will foster more success stories, connecting startups with investors and top talent. He underscored the collaboration between national and international stakeholders in bringing the initiative to life.

Labor and Social Security Minister Veda Işıkhan, who also spoke at the event, stressed the program’s role in accelerating work permit procedures for the fast-moving tech sector. He said, “We are issuing work permits for foreign workers while maintaining a strong focus on protecting local labor.”

While the program is designed to attract international expertise, Işıkhan assured that it would prioritize Türkiye’s domestic workforce. “In cases where local labor supply is insufficient, we will benefit from the complementary effect of international expertise,” he added.

With this program, Türkiye aims to cement its status as a global destination for tech innovation, entrepreneurship, and skilled professionals.

 

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