The Invest in Turkey Government agency has published official Turkish citizenship rules in accordance to the new changes to the economic citizenship by investment programme announced in Sep 2018.
As per the new regulations published in the Official Gazette on September 18, 2018, foreigners who meet any of the following conditions may be eligible for Turkish citizenship, subject to the decision of the President of the Republic of Turkey:
- Fixed Capital Investment: Proven by the Ministry of Industry and Technology to have made a minimum fixed capital investment of USD 500,000 or equivalent foreign currency or Turkish lira.
- Real Estate: Proven by the Ministry of Environment and Urbanization to have acquired a real estate worth a minimum of USD 250,000 or equivalent foreign currency or Turkish lira with a title deed restriction on its resale for at least three years.
- Â Job creation: Proven by the Ministry of Family, Labor and Social Services to have created jobs for at least 50 people.
- Â Bank deposit: Proven by the Banking Regulation and Supervision Agency to have deposited at least USD 500,000 or equivalent foreign currency or Turkish lira in banks operating in Turkey with the condition of not to withdraw for at least three years.
- Â Government bonds: Proven by the Ministry of Treasury and Finance to have bought at least USD 500,000 or equivalent foreign currency or Turkish lira worth of government bonds with the condition that they cannot be sold for at least three years.
- Venture capital or investment fund: Proven by the Capital Markets Board of Turkey to have bought at least USD 500,000 or equivalent foreign currency or Turkish lira worth of real estate investment fund share or venture capital investment fund share with the condition that they cannot be sold for at least three years.
The official announcement is here:Â http://www.invest.gov.tr/en-US/infocenter/news/Pages/new-turkish-citizenship-rules-encourage-foreign-investment.aspx
