The Regulation on the Amendment of the Regulation on the Implementation of the Turkish Citizenship Law was published in the Official Gazette on 06.01.2022. With this amendment, new procedures and principles have been determined regarding the conditions for acquiring citizenship in Article 20 of the Regulation and accordingly, the new conditions required for the acquisition of Turkish Citizenship are listed as follows:
- Determined by the Ministry of Industry and Technology to have made a fixed capital investment of at least 500 thousand USD or equivalent foreign currency.
- Determined by the Ministry of Environment, Urbanization and Climate Change to have purchased the immovable property worth at least 250 thousand USD and its equivalent in foreign currency, provided that an annotation is put in the land registry that it will not be sold for 3 years or, have established Condominium or floor servitude , at least 250 thousand USD and its equivalent amount of foreign currency is deposited in advance, and the sale of the immovable is promised with the contract drawn up in the notary public on the condition that the transfer and cancellation will not be made for 3 years in the land registry.
- Determined by the Ministry of Labor and Social Security to employ at least 50 people
- Determined by the Banking Regulation and Supervision Agency to have deposited at least 500 thousand USD or equivalent in foreign currency in banks operating in Turkey, on the condition that they keep their deposits for 3 years.
- Determined by the Ministry of Treasury and Finance to have purchased government debt instruments worth at least 500 thousand US Dollars and equivalent foreign currency, on the condition of keeping them for 3 years.
- Determined by the Capital Markets Board to have purchased real estate investment fund participation shares and venture capital investment fund participation shares of at least 500 thousand USD or equivalent foreign currency, on the condition that they hold at least 3 years.
With these amendments, the condition of making an investment in foreign currency exceeding a certain amount or in Turkish Lira corresponding to this foreign currency amount in order to acquire Turkish citizenship in the old regulation by purchasing real estate or creating employment in Turkey has been abolished, and the The Turkish Lira equivalent has been changed to the amount of foreign currency corresponding to the US Dollar.
In addition to these amendments, the following paragraphs have been added to Article 20 of the Regulation;
(9) The procedures and principles to be applied in determining whether the investment conditions in the scope and amount specified in the second paragraph are met are determined by the institution that made the determination.
(10) The foreign currency amounts specified in subparagraphs (b), (ç), (d) and (e) of the second paragraph are sold to a bank operating in Turkey and by this bank to the Central Bank before the transaction. As a result of the sale, the Turkish Lira amounts obtained pursuant to subparagraph (ç) of the second paragraph are kept in Turkish Lira deposits, and the Turkish Lira amounts obtained pursuant to subparagraph (d) of the second paragraph are kept in Turkish Lira State debt instruments for a period of three years. The implementation principles regarding this issue are determined by the Central Bank of the Republic of Turkey.
Along with these additions, new regulations have been introduced regarding the sale of foreign currency amounts to be deposited in relation to citizenship applications made through investments to the Central Bank through banks and with regard to some citizenship applications, it is also regulated that the Turkish Lira, which will be obtained as a result of the sale to the Central Bank, is kept in Turkish Lira deposits or government debt instruments for a period of 3 years. The supervisory authority of the changes brought with these additions has been determined as the institution that will make the determination.
In addition, with the Regulation change, it has been stated that a commission composed of Industry and Technology Representatives could be established within the Ministry of Interior, consisting of representatives of the Ministry of Labour and Social Security, the Ministry of Environment, Urbanization and Climate Change, the Ministry of Treasury and Finance, in order to follow up the process regarding the application for citizenship applications.