EXCEPTIONAL ACQUISITION OF TURKISH CITIZENSHIP FOR FOREIGN INVESTORS 28 Kasım 2017

Regulation on Implementation of Turkish Citizenship Law has been updated to extend the conditions of acquiring Turkish citizenship for foreign investors without the necessity of uninterrupted residency for five years.

In this scope, foreign investors who meet one of the below mentioned conditions shall be considered eligible to acquire Turkish citizenship -upon proposal of the Ministry of Interior and decision of the Cabinet:

1. Fixed Capital Investment in the amount of USD 2,000,000 –shall be certified by the Ministry of Economics-

2. Purchase of property in the amount of USD 1,000,000 with an annotation in the Land Registry not to be sold for three years at least -shall be certified by the Ministry of Environment And Urban Planning-

3. Providing employment for at least 100 persons –shall be certified by the Ministry of Labor and Social Security-

4. Deposit of money in the amount of USD 3,000,000 to a bank operating in Turkey on condition to be kept for three years at least –shall be certified by the Banking Regulation and Supervision Authority-

5. Buying State Debt Instruments in the amount of USD 3,000,000 on condition not be sold for three years at least –shall be certified by the Under-secretariat of Treasury-

6. Purchasing shares of Real estate investment fund or venture capital investment fund in the amount of USD 1,500,000 on condition to be kept for three years at least –shall be certified by Capital Markets Board of Turkey.

The effective selling rate of Turkish Central Bank at the date of determination shall be taken into consideration in order to determine above mentioned monetary values.

You may reach us at info@sevincyoner.com for more information.

Av. Elif SEVİNÇ YÖNER