Foreigners Who Bring USD to TURKEY will obtain Turkish Citizenship
According to the amendment published on the date of 12.01.2017 at Official Gazette, Article 20 of Governing Regulations of Turkish Citizenship Code was changed.
To the new amendment, Turkish citizenship shall be given to the foreigner who fulfil one of the conditions below:
- If the foreigner makes at least 2 million USD fixed investment to Turkey.
- If the foreigner buys a real estate in the amount of at least 1 million USD and put annotation as ‘’dead hand’’ to the land registry. This situation needs to be determined by Ministry of Environment and Urbanisation.
- If the foreigner provides employment for at least 100 people. This situation needs to be determined by Ministry of Labor and Social Security.
- If the foreigner keeps at least 3 Million USD at any Turkish Bank for 3 years. This situation needs to be determined by Banking Regulation and Supervision Agency.
- If the foreigner buys state debt instruments in the amount of 3 million USD and keep them for at least 3 years.
If the foreigner fulfil one of the conditions mentioned above, it will be possible to obtain Turkish Citizenship exceptionally.
As Lexel Law Firm, we would like to inform you about that last and significant amendment.