AMENDMENTS REGARDING THE IMPLEMENTATION REGULATION FOR TURKISH CITIZENSHIP CODE

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 New conditions about acquiring Turkish citizenship for foreigners are set by the Regulation on the Implementation of the Turkish Citizenship Law which was published on the Official Gazette on 19.09.2018.

Foreigners who fulfil any conditions below can acquire Turkish Citizenship according to this regulation:

  • Foreigners who invest a fixed capital of at least 500.000 USD “or against foreign exchange or against Turkish Lira” which will be determined by Ministry of Economy.
  • Foreigners who purchase immovable properties at least with a value of 250.000 USD “or against foreign exchange or against Turkish Lira” committing not to sell them within 3 years which will be determined by Environment and Urbanization Ministry.
  • Foreigners who recruit at least 50 employees which will be determined by Ministry of Labour and Social Security.
  • Foreigners who deposit worth of at least 500.000 USD “or against foreign exchange or against Turkish Lira” at the banks operating in Turkey for 3 years  which will be determined by Banking Regulation and Supervision Agency.
  • Foreigners who purchase government bonds amounting at least 500.000 USD “or against foreign exchange or against Turkish Lira” and keep them 3 years which will be determined by Undersecretariat of Treasury.
  • Foreigners who purchase share of real estate investment trust or share of venture capital investment trust at least with a value of 500.000 USD “or against foreign exchange or against Turkish Lira” committing not to sell them within 3 years which is determined by Capital Markets Board.

 

Foreigners who fulfil one of these conditions could acquire Turkish citizenship by Ministry of the Interior proposal and the decisions of the Council of Minister.

This regulation entered in force as of 19.09.2018.

 

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