Turkish citizinship new laws

Turkish citizinship new laws

On September 19, 2018, the Turkish Official Gazette published the decision to amend the executive regulations on the application of the law on the acquisition of Turkish citizenship in several ways.

The amendment included the conditions for which any person who has fulfilled any of them may apply for Turkish citizenship. The conditions are as follows:

- Purchase a property worth 250 thousand US dollars instead of at least one million dollars and not sell for three years.

- Fixed investment of not less than 500 thousand US dollars.

- Provide job opportunities for at least 50 Turkish citizens instead of 100 citizens.

- Reduction of the deposit requirement in Turkish banks from $ 3 million to $ 500 thousand for three years.

- Purchase through state borrowing instruments of US $ 500 thousand or the equivalent of foreign currencies or the Turkish lira

Last year, the Turkish government announced that foreign investors could apply for Turkish citizenship.

The terms previously included the purchase of a property worth at least US $ 1 million and not selling for three years, a fixed investment of at least US $ 2 million, providing employment for at least 100 Turkish citizens, or depositing US $ 3 million in Turkish banks for three years .

Source: Turk Press