ARTICLE
25 September 2018

Recent Amendments Regarding Regulation On The Implementation Of The Turkish Nationality Law

AE
Acar & Ergonen Law Firm

Contributor

Acar & Ergonen Law Firm logo
Acar & Ergönen is a law firm providing domestic and international clients with creative and effective solutions tailored to each client’s needs by handling legal matters with a result-oriented approach and assessing all possibilities and risks in a broad perspective. Our firm renders consultancy, litigation, arbitration and alternative dispute resolution services to its clients in a variety of legal areas including, primarily, corporate and commercial law, mergers and acquisitions, contract law, foreign direct investments, competition law, tax law, employment law, intellectual property law, media and advertising law, consumer law, construction and real estate law and health law.
Article 20 of the Regulation on the Implementation of the Turkish Nationality Law stipulating the exceptional cases on which Turkish nationality is obtained, was amended by the Presidential Decree No. 106 ...
Turkey Immigration

Article 20 of the Regulation on the Implementation of the Turkish Nationality Law ("Regulation") stipulating the exceptional cases on which Turkish nationality is obtained, was amended by the Presidential Decree No. 106 ("Decree") which was published in the Official Gazette dated , September 19, 2018 and entered into force on the same date.

Upon the amendments introduced by the Decree, the quantitative limits set forth for investments in capital and real estate as well as employment have been dramatically decreased, and as the direct result of such decrease, meeting the prerequisites for becoming a Turkish citizen has become remarkably easier than before.

The amended limits are as below:

Prerequisite for obtaining Turkish citizenship The quantitative limit [TODAY] The quantitative limit [BEFORE]
The determination by the relevant ministry of a fixed capital Investment Minimum USD 500k or equivalent other foreign currency or Turkish Lira Minimum USD 2 m
The determination by the relevant ministry of purchasing a real state by annotating sales ban for 3 years to the relevant land register Minimum USD 250k or equivalent other foreign currency or Turkish Lira Minimum USD 1 m
The determination by the relevant institution of employment Minimum 50 employees Minimum 100 employees
Purchasing public debt instruments provided that such instruments will be hold for 3 years Minimum USD 500k or equivalent other foreign currency or Turkish Lira Minimum USD 3 m

In addition to the amendments on the quantitative limits, a new prerequisite for obtaining Turkish citizenship has also been introduced to Article 20 of the Regulation. Accordingly, if Capital Markets Board determines that a foreigner has purchased a share of real estate investment fund or venture capital fund with a minimum value of USD 500k or equivalent other foreign currency or Turkish Lira on condition that the share would be hold by such foreigner for three years at least, Turkish citizenship can be obtained upon a Presidential decree.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More