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E2 Treaty Countries Taxation

Investment Basis

Turkey TaxationMontenegro TaxationGrenada Taxation
Currency Türk Lirası EUR Eastern Caribbean Dollar
Accounting Principles IFRS IFRS, GAAP, UCA, Parent company IFRS, Parent company
Individual Worldwide Tax Basis Resident, Domicile Resident Resident
Fast Track Citizenship

Individual Taxation

Turkey TaxationMontenegro TaxationGrenada Taxation
Starting Taxable Income 18,000 1 1
Starting Income Tax Rate 15% 9% 10%
Highest Income Tax Rate 40% 9% 28%
No Individual Capital Gain Tax

Inheritance, Gift, Net Worth, Dividend, Interest Taxation

Turkey TaxationMontenegro TaxationGrenada Taxation
No Net Worth Tax
No Gift Tax
No Inheritance Tax
Dividend Tax 15% Combined income 0%
Interest Tax 0%-15% Combined income 15%

Corporate Taxation

Turkey TaxationMontenegro TaxationGrenada Taxation
Income Tax Rate 22% 9% 28%
Branch Tax Rate 22% 9% 28%
No Capital Gain Tax

Withholding Taxation for Nonresidents

Turkey TaxationMontenegro TaxationGrenada Taxation
Dividends (Company) 15% 9% 0%
Interest (Company) 0%/15% 9% 15%
Royalties (Company) 20% 9% 15%
Fees for Technical Services (Company) 20% 9% 15%
Dividends (Individual) 15% 9% 0%
Interest (Individual) 0%/15% 5% 15%
Royalties (Individual) 20% 9% 15%
Fees for Technical Services (Individual) 20% 9% 15%

Withholding Taxation for Residents

Turkey TaxationMontenegro TaxationGrenada Taxation
Dividends (Company) 0% 9% 0%
Interest (Company) 0% 0% 15%
Royalties (Company) 0% 0% 15%
Fees for Technical Services (Company) 0% 0% 15%
Dividends (Individual) 15% 9% 0%
Interest (Individual) 0% 0% 15%
Royalties (Individual) 20% 0% 15%
Fees for Technical Services (Individual) 20% 0% 15%

Real Estate

Turkey TaxationMontenegro TaxationGrenada Taxation
Stamp Duty None 1%
Transfer Tax 3% 3% 5%-15%
Real Property Tax 0.1%-0.3% 0.25-1% 0%-0.5%

Value Added Tax

Turkey TaxationMontenegro TaxationGrenada Taxation
Standard Rate 18% 21% 15%
Reduced Rate 0%/1%/8% 0%/7% 0%/10%/20%

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