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TURKISH CITIZENSHIP LAW CHANGED

TURKISH CITIZENSHIP LAW CHANGED

According to Turkish Citizenship  Law, there are two ways to acquire Turkish citizenship: by birth and after birth. If one of the parents is a Turkish citizen, the child gains citizenship by birth. To gain Turkish citizenship after birth, there are two main regulations. The first one is the general way that has requirements like marriage, being resident over 5 years or adoption, etc. The second one is the exceptional acquisition of Turkish citizenship which is for investors.

Turkish Citizenship Old Law

With the decision dated 12.12.2016 and numbered 9601, The Turkish Citizenship Law change and the new articles were added to the Turkish Citizenship Code.

conditions of exceptional acquisition of Turkish citizenship. This decision is published in the Official Gazette dated 12 January 2017 and numbered 29946. The relevant amendment provides an opportunity for foreigners to acquire Turkish citizenship on the condition that they meet various investment criteria in Turkey.

  • Making a fixed capital investment which is an amount of at least 2,000,000 USD. For such investment, the auditing institution is the Ministry of Economy,
  • Buying a real estate valued at least USD 1,000,000 on the condition not to sell for three years.  For such acquisition, the auditing institution is the Ministry of Environment and Urbanization,
  • Employing at least 100 workers. For such employment, the auditing institution is the Ministry of Labour and Social Security,
  • Depositing at least 3,000,000 USD to a bank active in Turkey on the condition to keep it in the account for three years. For such deposit auditing institution is the Banking Regulation and Supervision Agency,
  • Investing in Government debt securities which is the amount of at least 3,000,000 USD on the condition to keep for three years. For such investment, auditing institution is the Undersecretariat of Treasury.

After this regulation, investors started to apply for Turkish citizenship through investment. However, upon a huge demand from investors, a new regulation was made.

The Turkish Citizenship New Law

As per the new regulations of Turkish Citizenship Code published in the Official Gazette on September 18, 2018, foreigners who meet any of the following conditions may be eligible for Turkish citizenship:

  • Purchasing a real estate worth a minimum of 250,000 USD or equivalent foreign currency or Turkish lira. The title deed should be under the restriction of resale for at least three years. The Ministry of Environment and Urbanization should confirm the investment.
  • Making a minimum fixed capital investment of 500,000 USD or equivalent foreign currency or Turkish lira. The Ministry of Industry and Technology should confirm the investment.
  • Creating jobs for at least 50 people. The Ministry of Family, Labor and Social Services should confirm the investment.
  • Depositing at least 500,000 USD or equivalent foreign currency or Turkish lira in banks operating in Turkey. The investor should accept the condition of not to withdraw for at least three years. The Banking Regulation and Supervision Agency should confirm the investment.
  • Buying at least 500,000 USD or equivalent foreign currency or Turkish lira worth of government bonds. The investor should accept the condition not to sell for at least three years. The Ministry of Treasury and Finance should confirm the investment.
  • Buying at least 500,000 USD or equivalent foreign currency or Turkish lira worth of real estate investment fund share or venture capital investment fund share. The investor should accept the condition not to sell for at least three years. The Capital Markets Board of Turkey should confirm the investment.

Fastest and Easiest Way to Get Turkish Citizenship

It is a fact that, the most famous clause of Turkish Citizenship Code is purchasing a property valued over USD 250,000. The reason that our investors prefer this type is that the investment amount is low and it gives good rental income during 3-year holding period.

The investment you will make with an expert sales consultant can bring you profit and Turkish citizenship in the same package. If you prefer to gain citizenship by investing 250,000 USD, check our portfolio without wasting time and money and get support from our expert sales consultants. Look for the properties on FIN Real Estate Turkey website and contact us Today.

Not Interested in Investing Real Estate

If you are not interested in property investment, there are 5 more options in Citizenship Investment Program. For more information please check our blog titled “Turkish Citizenship Investment Program”. Visit our detailed blog on the subject and direct your questions to our lawyers.

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