Within the framework of the “Regulation on the Amendment to the Regulation on the Implementation of the Turkish Citizenship Law” published in the Official Gazette today, 18.09.2018, the minimum immovable property required for naturalization of foreigners was reduced from 1.000.000 USD to 250.000 USD. The Ministry of Interior announced that it would open special offices for foreigners who would like to get citizenship and the procedures would be completed as soon as possible.
According to the news in AA, “The Regulation on the Amendment of the Regulation on the Implementation of Turkish Citizenship Law” was published in the Official Gazette with the signature of the President.
According to the new regulations, a fixed capital investment requirement of at least 2 million USD, which would have to be met before, was changed to 500.000 USD or its equivalent in Turkish Lira.
The provision of the purchase of at least 1 million US Dollars to the title deeds of the immovable property not to be sold for three years has also been changed by the regulation. Foreigners who buy the real estate in the amount of 250.000 US Dollars or foreign currency or its equivalent in Turkish Lira will be able to benefit from this right.
Similarly, the expression of providing employment to at least 100 people, which is among the conditions of eligibility to citizenship, has been changed to 50 people. As one of the conditions of naturalization, the total amount of deposit in banks operating in Turkey which must be kept with the admission of at least three years is reduced from 3 million US Dollar in exchange or in compensation to 500.000 US Dollars or its equivalence as Turkish Lira.
The requirement of obtaining at least 1 million 500 thousand USD real estate investment fund participation share or venture capital investment fund participation shares and keeping it in the reserve for three years was also changed by the regulation. The ones fit to the requirement of holding at least 500 thousand US Dollars or its equivalent in foreign currency or fulfilling provisions of Turkish Lira in the real estate investment fund shares or venture capital investment fund shares for at least three years will be eligible for the citizenship.
On the other hand, a commission consisting of representatives of the Ministry of Family, Labor and Social Services, the Ministry of Environment and Urbanization, the Ministry of Treasury and Finance, the Ministry of Industry and Technology will be established within the Ministry of Interior in order to follow the process related to citizenship applications.
By opening private offices, the foreign citizens who apply for Turkish citizenship will be attended in one-to-one manner and the transactions will be done as soon as possible. The follow-up of these offices and the process will be followed by the commission formed by the Ministry of Interior.