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Revised November, 2024 – Resource, Turkey iResidence
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CHANGE IN THE CONDITIONS OF ADMISSION TO TURKISH CITIZENSHIP
According to the decision published in the Turkish Official Gazette, the regulation on the admission of foreign citizens to Turkish citizenship in Turkey has been amended by meeting certain conditions.
With the signature of the President, Recep Tayyip Erdogan, published in the Official Gazette, ‘according to a regulation amending the regulation on the implementation of Turkish citizenship law, the citizenship of terms there is a change in the acceptance of foreign nationals.
Thus, the new requirements for the transition of foreign citizens to Turkish citizenship were listed as follows:
It is determined by the Ministry of Industry and Technology that it makes fixed capital investments in the amount of at least 500 thousand US dollars or equivalent foreign currency. At least 250 thousand U.S. dollars and foreign currency in the amount of 3 years in the real estate deed records of commentary on the condition that it be sold or purchased or be put in the established easement property ownership, at least 250 thousand U.S. dollars and foreign currency deposited in the land registry as advance and the amount of transfer and the commitment that the cancellation will be made for a period of 3 years noted, edited by notarized agreement, provided that it is the environment which has been promised to the sale of the land, urbanization and climate change identified by the ministry.
It has been determined by the Ministry of Labor and Social Security that it creates employment for at least 50 people.
It is determined by the Banking Regulatory and Supervisory Authority that it deposits in banks operating in Turkey with the condition of holding deposits in the amount of at least 500 thousand US dollars and equivalent foreign currency for 3 years.
It is determined by the Ministry of Treasury and Finance that it has purchased Government debt instruments in the amount of at least 500 thousand US dollars and equivalent foreign currency on the condition of holding them for 3 years. Persons identified by the Capital Markets Board as having purchased a real estate investment fund participation share in the amount of at least 500 thousand US dollars or equivalent foreign currency and a venture capital investment fund participation share provided that they have held it for at least 3 years.
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A COMMISSION CAN BE ESTABLISHED WITHIN THE MINISTRY OF INTERNAL AFFAIRS
A commission consisting of representatives of the Ministry of Labor and Social Security, the Ministry of Environment, Urbanism and Climate Change, the Ministry of Treasury and Finance, Industry and Technology will be able to be established within the Ministry of Internal Affairs to follow the process of applying for citizenship with a change in the regulation.
The procedures and principles to be applied in determining whether the investment conditions are met in the scope and amount specified to obtain citizenship will be determined by the institution that makes the determination.
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REVENUES WILL BE HELD IN TL DEPOSITS
Environment, urbanization and climate change Ministry of the banking regulation and Supervision Agency, Capital Markets Board and the Ministry of Treasury and finance prior to transaction currency amounts specified by a bank operating in Turkey, will be sold to the central bank and the bank also. The Turkish Lira amounts obtained by the Banking Regulation and Supervision Agency as a result of the sale will be kept for 3 years in Turkish Lira deposits and the Turkish Lira amounts obtained by the Ministry of Treasury and Finance in Turkey will be kept in state borrowing instruments denominated in Turkish Lira. The Central Bank will determine the practices and principles related to the issue.
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