The exceptional cases in which a foreigner can obtain Turkish citizenship with a presidential decision are articulated under the Regulation on Application of Turkish Citizenship Law. Accordingly, this regulation also stipulates the various options for obtaining Turkish citizenship by investment.
The Regulation on Amendment of the Regulation on Application of Turkish Citizenship Law (the “Regulation”) published on 19.09.2018, has introduced lower levels of monetary investment requirement for foreigners to obtain Turkish Citizenship by investment. The previous and amended monetary levels for these options are given below;
- Previous requirement of fixed capital investment of $2.000.000 has been lowered to $500.000 (or its equivalent of foreign or Turkish currency),
- Previous requirement of real-estate investment of $1.000.000 has been lowered to $250.000 (or its equivalent of foreign or Turkish currency), however the requirement for the registry record of such real-estate to bear the un-saleable annotation for three years remained the same,
- Previous requirement of generating jobs for minimum of 100 people has been lowered to generating job for minimum of 50 people,
- Previous requirement of depositing a minimum $3.000.000 in banks which operate in Turkey has been lowered to $500.000 (or its equivalent of foreign or Turkish currency),
- Previous requirement of buying governmental debt instrument of $3.000.000 has also been lowered to $500.000 (or its equivalent of foreign or Turkish currency), however the condition for retaining such debt instrument for a period of three years remained the same,
- Previous requirement of buying real estate investment trust share or venture capital fund share of $1.500.000 has also been lowered to $500.000 (or its equivalent of foreign or Turkish currency), however the condition for retaining shares for a period of three years remained the same.
The information given in this note are aimed only at providing information, and does not serve as a legal opinion under any circumstances.