Foreign investors can exceptionally acquire Turkish citizenship under Article 12 of the Turkish Citizenship Law. The primary requirement for those desiring Turkish citizenship is not to pose any impediment to national security and public order. Generally, other conditions such as residency and settlement intentions are not considered when acquiring Turkish citizenship.
For investors to acquire Turkish citizenship, the primary requirement is to make a certain amount of investment. With the amendments made by Presidential Decree No. 106 dated 18.09.2018, reductions have been made in the amounts specified in Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law.
For example, prior to the amendment, a property investment of $1,000,000 was required for Fast Track Citizenship, whereas with the amendment, the investment requirement was reduced to $250,000. On April 12, 2022, after the cabinet meeting, Turkish citizenship by property investment increased from $250,000 to $400,000.
Investment Criteria
According to Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law, a foreign individual who meets any of the following conditions can acquire Turkish citizenship through Presidential decree under Article 12(b) of the Law:
- Making a fixed capital investment of at least $500,000
- Purchasing real estate valued at a minimum of $400,000 or making a commitment to pay this amount in cash through a notarized contract for the sale of the property
- Creating at least 50 job positions
- Depositing at least $500,000 in Turkish banks
- Purchasing government bonds worth at least $500,000
- Investing at least $500,000 in real estate investment fund shares or venture capital investment fund shares
In cases of real estate purchase or sale with a sales promise, a note will be placed in the land registry stating that the property will not be sold for 3 years. Similarly, if investments are made in deposits, government bonds, real estate investment fund shares, or venture capital investment fund shares, these investment instruments must be held by the investor for 3 years. To fulfill the requirement of holding the investment instruments for 3 years, it is possible to switch between investment types.
Obtaining Approval for Investment
After the investment is made, its suitability must be documented by the relevant authority:
- The Ministry of Industry and Technology for fixed capital investment
- The Ministry of Environment and Urbanization for real estate purchases or sales commitments
- The Ministry of Family, Labour, and Social Services for investments made through employment
- The Banking Regulation and Supervision Agency for deposit investments
- The Ministry of Treasury and Finance for investments in government bonds
- The Insurance and Private Pension Regulation and Supervision Agency for investments in designated funds
The relevant authority will not only assess the suitability of your investment but also verify the suitability of your investment process. For example, while the Ministry of Environment and Urbanization verifies the valuation report of the property, it also confirms the suitability of the property acquisition and payment procedures. Procedural deficiencies during the purchase process may lead to rejection of your citizenship application. Therefore, it is recommended to proceed with your transactions with Expert Lawyers from the determination of your investment form. Asons Citizenship, through its attorneys, will be your single and greatest supporter in your investment processes.
Residence Permit Procedures
Once the suitability of your investment for Fast Track Citizenship is documented, you can now apply for a residence permit. It is important to accurately and completely submit your declarations and provide the necessary documents during this process.
Citizenship Application
Your citizenship application is completed with the preparation of the necessary documents. The relevant public institution conducts research to determine if you have any circumstances that may pose a threat to national security and public order. If there are no such circumstances, your file is submitted to the President for decision and signature. Turkish citizenship is approved by the Presidential decree.
Passport Procedures
After approval and decision by the President, arrangements for receiving your passport are organized. We celebrate together and complete your transactions with best wishes afterward. Asons Citizenship, with its attorneys, will be with you throughout all processes and at all times.
