Changes to the rules for obtaining Turkish citizenship

🛎Turkey changes the conditions for obtaining citizenship by investment

The Turkish government publication Resmi Gazette recently published amendments to the “Regulation on the Application of the Turkish Citizenship Law”. The published document, signed by the President of Turkey, announced changes to the conditions for granting Turkish citizenship to foreigners.

There are two main changes worth highlighting:

– The amount of investment in Turkish real estate for obtaining Turkish citizenship is now determined ONLY in US dollars or the equivalent in foreign currency. This value in Turkish Lira will no longer be determined due to the volatility of the local currency.

– Now foreign currency investment amounts must be sold by public/private banks to the Central Bank of Turkey and these funds will be kept in lira accounts.

Recall that the main provisions and criteria for obtaining Turkish citizenship remained unchanged:

Purchase of real estate for €400,000

Deposit in a bank with a balance of €500,000

Purchase of national securities from €500,000

Purchase of government bonds for a total amount of €500,000

Purchase of shares of Turkish investment funds for €500,000

Opening a business and creating at least 50 jobs

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