ACQUISITION OF TURKISH CITIZENSHIP THROUGH INVESTMENT
IN GENERAL:
With the last amendments made with the Presidential Decisions published in the Official Gazettes dated 06/01/2022 and 13/05/2022, foreigners will be able to acquire Turkish citizenship if they meet one of the following conditions, pursuant to Article 20 of the Regulation for Implementation of Turkish Citizenship Law:
a) It is determined by the Ministry of Industry and Technology that applicant has made a fixed capital investment of at least 500,000 USD or equivalent in foreign currency or equivalent Turkish Lira,
b) Purchased immovable property worth at least 400.000 US Dollars or equivalent in foreign currency or Turkish Lira, provided that it is not sold for three (3) years in the land registry or condominium, or It has been determined by the Ministry of Environment and Urbanization that the contract issued by the notary public for the promise of the sale of the immovable property for which a construction servitude has been established and for which at least 400.000 USD or its equivalent in foreign currency or Turkish Lira has been deposited and this has been annotated in the land registry for three (3) years with the commitment that it will not be transferred or cancelled,
c) It is determined by the Ministry of Family, Labor and Social Services that applicant has employed at least 50 people,
ç) It is determined by the Banking Regulation and Supervision Agency that applicant deposited at least 500,000 USD or equivalent foreign currency or equivalent Turkish Lira deposits to banks operating in Turkey for three (3) years,
d) It is determined by the Ministry of Treasury and Finance that applicant has purchased at least 500,000 USD or equivalent foreign currency or Turkish Lira equivalent Government debt instruments, provided that they are kept for three (3) years.
e) Retaining at least 500,000 USD or equivalent foreign currency or Turkish lira real estate investment fund participation shares or venture capital investment fund participation shares for at least three (3) years determined by the Capital Markets Board, provided that it is purchased.
f) It is determined by the Insurance and Private Pensions Regulation and Supervision Agency that applicant has invested at least 500,000 USD or its equivalent in foreign currency into the private pension system, provided that it is kept in the funds determined by the Insurance and Private Pensions Regulation and Supervision Agency and remains in the system for three years.
THE PROCESS TO BE FOLLOWED IN ACQUISITION OF TURKISH CITIZENSHIP THROUGH INVESTMENT
The acquisition of Turkish citizenship by investment consists of the following three (3) stages:
(1) Fulfilling one of the investment conditions specified in Article 20 of the Regulation and obtaining a Certificate of Conformity from the relevant institution;
(2) Obtaining a short-term residence permit in accordance with subparagraph (j) of the first paragraph of Article 31 of Law No. 6458, and
(3) Application for acquisition of Turkish citizenship by investment
Although Turkey has facilitated the process of obtaining citizenship through investment, it is extremely important that the application is made completely and that the process is followed accurately and completely. Any mistakes made during the application process or a deficiency in the documents may cause the application to be rejected or the application process to be prolonged.
As Payas&Payas, we provide detailed legal consultation to our foreigner clients in all stages of the process to ensure a safe and easy legal procedure for you.
