9/22/2018

New Turkish Citizenship Rules Encourage Foreign Investment

As per the new regulations published in the Official Gazette on September 18, 2018, foreigners who meet any of the following conditions may be eligible for Turkish citizenship, subject to the decision of the President of the Republic of Turkey:

 

· Proven by the Ministry of Industry and Technology to have made a minimum fixed capital investment of USD 500,000 or equivalent foreign currency or Turkish lira.

 

· Proven by the Ministry of Environment and Urbanization to have acquired a real estate worth a minimum of USD 250,000 or equivalent foreign currency or Turkish lira with a title deed restriction on its resale for at least three years.

 

· Proven by the Ministry of Family, Labor and Social Services to have created jobs for at least 50 people.

 

· Proven by the Banking Regulation and Supervision Agency to have deposited at least USD 500,000 or equivalent foreign currency or Turkish lira in banks operating in Turkey with the condition of not to withdraw for at least three years.

 

· Proven by the Ministry of Treasury and Finance to have bought at least USD 500,000 or equivalent foreign currency or Turkish lira worth of government bonds with the condition that they cannot be sold for at least three years.

 

· Proven by the Capital Markets Board of Turkey to have bought at least USD 500,000 or equivalent foreign currency or Turkish lira worth of real estate investment fund share or venture capital investment fund share with the condition that they cannot be sold for at least three years.

citizenship; turkey; investment; investturkey; economy

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