With the recent amendment, non-Turkish citizens who purchase real estate worth $ 1 million, invest at least $ 2 million, or open a $ 3 million deposit account will be granted citizenship.
According to the regulation amending the Implementing Regulation of Turkish Citizenship Law dated 12 January 2017 of the Official Gazette, those who:
– purchases at least 1 million real estate with condition that the real estate will not be sold for three years,
– invests at least $ 2 million in fixed capital,
– deposits at least $ 3 million in banks operating Turkey or purchases governement borrowing instruments for three years.
With the amendment, it was ruled that foreigners who were documented to have employed at least 100 people would be granted Turkish citizenship.
For many years, many countries, especially the European Union countries and the United States of America, have been providing this kind of money-giving citizenship. There are two important features of the application launched by Turkey, separated from other countries. The first one is the necessity to prove that the source of the money introduced into the country borders is legal. The second is that they have to first apply for one-year residence permit, then another three-years residence permit and finally apply for the citizenship.
TAGS: Turkish citizenship, money and Turkish citizenship, investment in Turkey, Turkey residence permit.