- republic of turkey has amended its law to offer citizenship to international investors!
Republic of Turkey has amended its law to offer citizenship to international investors!
The decree on the changes published in Turkey's Official Gazette grants citizenship to foreigners who make a fixed capital investment of at least USD 2 million, keep at least USD 3 million in a bank account for at least 3 years or create at least 100 jobs in the country.
With the new law (announced on January 12, 2017 on Official Gazette), foreign investors who bring substantial assets/capital to Turkey can obtain Turkish Citizenship. In brief we can list how foreign investors who fulfil one of the following criteria can gain the Turkish Citizenship:
- Investment of at least USD 2 million to a fixed capital investment - the investment must be confirmed by the Ministry of Economy-
- Investing in a real estate at least USD 1 million USD with a title deed restriction of not selling/transferring the real estate for 3 years – the investment must be confirmed by Ministry of Environment and Urbanization-
- Employing 100 people in Turkey –confirmed by Ministry of Labour and Social Security-
- Deposit in a Turkish Bank USD 3 million with a condition of not to withdraw for at least 3 years –the investment must be confirmed by Banking Regulation and Supervision Agency-
- Investing in government bonds worth at least USD 3 million with a condition of not to sell for at least 3 years – it must be confirmed by the Undersecretariat of Treasury-
In this context, investors who request residence permit will be granted 5 years of residence permit by Directorate of Migration Management.