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Acquisition of Turkish Citizenship by Purchasing Real Estate or Making Capital Investment

The amendment to the Article 20 of the Regulation on the Enforcement of the Turkish Citizenship Law which sets forth the (exceptional) acquisition of Turkish citizenship was published in the Official Gazette dated 12 January 2017 and numbered 29946. The amendment sets out the acquisition of Turkish citizenship via specific methods such as acquisition of property, making capital investment or generating employment.

With the amendment, which entered into force on 12 January 2017, foreign citizens may acquire Turkish citizenship by a proposal of the Ministry of Interior and the Decision of the Council of Ministers provided that at least one of the conditions defined below are met:

  1. Making at least 2.000.000 USD capital investment,
  2. Purchasing property for at least 1.000.000 USD provided that an annotation for prohibition of its sale for three years is affixed to the title deed,
  3. Generating employment of at least 100 persons,
  4. Placing a deposit of at least 3.000.000 USD to the accounts of banks operating in Turkey with the condition of holding for at least three years,
  5. Purchasing government issued debt securities for at least 3.000.000 USD with the condition of holding for at least three years.

Please contact us for further information with regard to the legislation on Turkish citizenship and its application.