As of 19.09.2018 the law that regulates the applications for Turkish citizenship was amended. With the mentioned amendment, becoming Turkish citizen for foreigners got a lot easier and less costly.
From now on, foreigners have to show a fixed capital investment amount of at least $500.000 to become a Turkish citizen. This used to be 2 million USD.
The foreigners who wish to become a citizen of the Republic of Turkey have several ways to become a citizen. One of which is owning a property in Turkey and guaranteeing that they will not be selling the mentioned property for three years. The value of this property needed to be at least 1 million USD, which is now reduced to 250.000USD. Another way of becoming a Turkish citizen keeping a deposit of 3 million USD in a Turkish Bank which is now again reduced to 500.000 USD.
Anyone who wish to apply for citizenship via a capital venture fund need to invest 500.000USD rather than 1.5 million USD.
Foreigners who wanted to become a Turkish citizens used to undertake to employ 100 people. This number is also reduced to 50 people now.
For more information and questions please email b.orhan@londonlegalint.co.uk Mrs Burcu Orhan Holmgren is the senior partner in London Legal International and is in charge of our Turkish Civil Law division.
