00:00Can Turkey take on Dubai and London to become a new global wealth hub?
00:05As war shakes the Middle East and taxes bite in the UK, Turkey sees a unique opportunity
00:10to capitalise on its strategic location as a bridge between Europe and the Middle East.
00:16The country has unveiled a range of tax incentives to wealthy expats and investors.
00:21On the table, minimal inheritance tax and the chance for 20 years of overseas income
00:27free from local levies.
00:28There's also an amnesty programme to bring in undeclared assets held overseas.
00:33But the country faces something of an uphill struggle.
00:37Turkey's homegrown rich have traditionally sought to take their assets overseas
00:41to counter frequent bouts of high inflation and currency devaluation.
00:46And the landmark Istanbul financial centre still lags Gulf rivals on global indices.
00:52The new measures echo parts of the UK's former non-DOM regime.
00:56This offered the possibility of virtually tax-free living for those generating
01:00significant income outside the country.
01:03With that system now gone, competition is heating up to replace it.
01:07Closer to home, with no immediate end in sight to the conflict in the Middle East,
01:12Turkey is seizing the moment.
01:13Whether the wealthy buy it, that's yet to be seen.
01:16So you can have a little bit of a problem.
01:16Let us know.
01:16You
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