With the amendments in the Turkish citizenship laws enacted on September 19, Turkish government reduced the minimum limit of required investments for foreign investors to acquire Turkish citizenship. The thresholds of the different investment categories for acquiring citizenship dropped to one fourth or one sixth of the previous minimum investment limits, however, any investment made before 19.09.2018 was excluded from the scope of those amendments.
- The threshold for acquiring citizenship by investing in real estate has been lowered from USD 1,000,000 to USD 250,000. The investment cannot be sold for a period of 3 years. Any type of real estate (apartments, villas, commercial buildings, agricultural lands, lands) is accepted under this investment category. It is possible for investors to combine more than a real estate to reach 250,000 USD. It is also possible for multiple investors to invest in the same real estate and utilize that investment in their applications as long as the share of each investor amounts to at least 250,000 USD. The sale promise contracts for the unfinished construction projects are accepted as valid investment as long as those projects have the construction servitude.
- The threshold for acquiring citizenship by depositing money into a Turkish bank account has been lowered from USD 3,000,000 to USD 500,000. The deposited amount cannot be withdrawn from the bank for 3 years but investors are free to reap the benefits of the capital money throughout the period of 3 years. The invested money must be deposited in any Turkish bank and its any branch in the Turkish territory.
- The threshold for acquiring citizenship by virtue of employing Turkish citizens has been reduced from a minimum of 100 employees to minimum 50 employees.
- The threshold for acquiring citizenship by purchasing government bonds and/or investing in fixed capital and/or venture funds was lowered from USD 3,000,000 to USD 500,000.
It is crucial that the spouses and underage children of investors can acquire the Turkish nationality along with investors. The accomplishment of the application process normally takes between 3-5 months. Nevertheless, due to the COVID-19 related restraints, this period is temporarily taking longer at the moment.
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