“EXCEPTIONAL TURKISH CITIZENSHIP” REQUIREMENTS WERE CHANGED

“EXCEPTIONAL TURKISH CITIZENSHIP” REQUIREMENTS WERE CHANGED

 

What was the previous requirement for acquiring Turkish Citizenship?

The Turkish government requested one of these below options from foreign people to be Turkish Citizen;

  • A Foreigner had to do fixed capital investment at least USD 2.000.000 confirmed by the Ministry of Economy.
  • A Foreigner who was purchasing a real estate for a minimum value of USD 1.000.000, within annotate on deed record for nonsalable for three years which was confirmed by the Ministry of Environment and Urbanization.
  • A Foreigner who, through his business, must constitute employment for at least 100 Turkish people which needed to confirmed by the Ministry of Labour and Social Security.
  • A Foreigner who deposited into his Turkish Bank Account at least USD 3.000.000 and held it for a minimum of three years, this period had been determined by the Banking Regulation and Supervision Agency (BDDK).
  • A Foreigner who invested in Treasury bonds or any type of government loan instruments worth minimum USD 3.000.000 and maintained them for three years, under the supervision of the under Secretariat of the Treasury.

 

What are the differences between previous and new “Exceptional Citizenship”?

According to the “Application of Turkish Citizenship Code, Article 20” was changed on 18th September 2018 by the president of the republic. With the New Regulation, the “Exceptional Citizenship” requirements options of value were reduced dramatically.

According to the new regulation, if the foreign people complete one of these below requirements, they are going to obtain a Turkish Citizenship;

  • A foreigner must do fixed capital investment minimum USD 500.000 (or its equivalent value in Turkish Lira or in foreign currency) confirmed by the Ministry of Industry and Technology.
  • A minimum value of purchasing real estate was decreased to USD 250.000 (or its equivalent value in Turkish Lira or in foreign currency). However, other requirements were not changed by the government. For this reason, The Foreigner who purchases a real estate, cannot sell it within 3 years from the purchase date and this purchasing should be confirmed by the Ministry of Environment and Urbanization.
  • A Foreigner must employ at least 50 Turkish people. It should be confirmed by the Ministry of Family, Labour, and Social Security. Hence, that requirement was decreased by 50%.
  • A Foreigner who deposits into the Turkish Bank Account at least USD 500.000 (or its equivalent value in Turkish Lira or in foreign currency) for three years, is determined by the Banking Regulation and Supervision Agency (BDDK).
  • A Foreigner who invests in Treasury bonds or any type of government loan instruments worth USD 500.000 (or its equivalent value in Turkish Lira or in foreign currency) and holds them for three years, under the supervision of the Ministry of Treasury and Finance.

 

“Exceptional Turkish Citizenship” Differences

Between Previous and Present

Obligation Previous Present
Investment of Fixed Capital $ 2.000.000 $ 500.000
Purchasing A Real Estate $ 1.000.000 $ 250.000
Employment 100 Turkish People 50 Turkish People
Hold Deposit into The Bank $ 3.000.000 $ 500.000
Invest in Treasury Bonds or Any Type of Government Loan $ 3.000.000 $ 500.000