Turkish Citizenship by Investment

Turkish Citizenship by Investment

Citizenship for foreigners by investment or alias economic citizenship is one of the exceptional means for acquiring Turkish citizenship under paragraph a of article 12, titled “Exceptional Conditions for Acquisition of Turkish Citizenship”, of Law no. 5901 on Turkish Citizenship

As it is stated in such paragraph, “Foreigners, who bring industrial facilities in Turkey, or who provide or thought to provide extraordinary services in the fields of science, technology, economy, and social, sportive, cultural and artistic field, and for whom related ministries make reasoned offer, their spouses and children under the age of 18 can acquire Turkish citizenship with the resolution of President, provided that such people should not be in such a situation threatening national security and public order.”

The scope and amounts determined according to new regulations in Official Gazette dated September 18, 2018 are mentioned below. Foreigners meeting any of such conditions can acquire Turkish citizenship with the resolution of Turkish President. These conditions are as follows:

  1. People making a capital investment of 500.000 USD in minimum (Ministry of Industry and Technology is authorised to determine.)
  2. People purchasing real estate at the amount of 400.000 USD in minimum (Annotation preventing sale for 3 years should be added to title deed registry.) (Ministry of Environment and Urban Planning is authorised to determine.) (Instead of USD, foreign currency or Turkish lira with the same value can be used. For determination of such monetary condition, effective Exchange rate and/or cross Exchange rate on date of determination is based.)
  3. People employing at least 50 people (Ministry of Family, Labour and Social Services is authorised to determine.)
  4. People investing deposit of 500.000 USD in minimum in banks located in Turkey (Deposits should be maintained for 3 years) (Banking Regulation and Supervision Agency is authorised to determine.)
  5. People purchasing state debt instruments of 500.000 USD in minimum (Instruments should be maintained for 3 years.) (Ministry of Treasury and Finance is authorised to determine.)
  6. People purchasing real estate investment trust or venture capital fund of 500.000 USD in minimum (Such shares should be maintained at least 3 years.) (Capital Market Board is authorised to determine)

Moreover; as it is mentioned above, the condition of detection of the lack of any threat in terms of national security and public order of Turkey is sought as a priority.

As BURUCUOGLU Law Office, we provide legal support for our clients for their demands related to Turkish citizenship process. For detailed information and legal consultancy about the subject, please contact on info@burucuoglu.com.