HOW CAN A FOREIGN INVESTOR ACQUIRE TURKISH CITIZENSHIP?
Regulation on the Amendment of the Regulation on the Implementation of the Turkish Citizenship Law was published in the Official Gazette on January 12, 2017, and the foreign investor was allowed to become a Turkish citizen without being subject to any other conditions, especially during the residential terms.
Foreigners who do not have Turkish origin can be Turkish citizens in our country generally in two ways. They can be Turkish citizens either by a continuous residence in Turkey for five years from the date of application backwards or remaining married to a Turkish citizen for at least three years. With the amendment of the Regulation on Turkish Citizenship Law Implementation, now the foreigners can be Turkish citizens without the necessity to reside in Turkey or without being subject to longer periods.
Well, what are the conditions for the transfer of investors to Turkish citizenship in Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law?
If a fixed capital investment amounting to at least USD 500,000 is determined by the Ministry of Economy,
If a purchase of immovable amounting to at least USD 250,000 with an addendum affixed “not to be sold for three years” in the title deed records is determined by the Ministry of Environment and Urban Planning,
If a provision of employment for at least 50 people is determined by the Ministry of Labor and Social Security, If a deposit of at least USD 500,000 in banks operating in Turkey, on condition to keep that amount for three years, is determined by the Banking Regulation and Supervision Agency; then the foreign investors can transfer into Turkish citizenship.
In determining the monetary value of the above, the Central Bank of the Republic of Turkey on the date of determination of the effective exchange rate shall prevail.
The most common type of investment for Turkish Citizenship in practice is to purchase immovable amounting to US $ 250,000. When the immovable sale is conducted, it is necessary to affix an addendum “not to sell the immovable for three years” to the land registry records. When the Regulation first started to be implemented, the Ministry of Environment and Urbanism wanted this addendum “not to sell the immovable for three years” to be affixed right at the moment of purchase of the immovable.
This situation had caused great difficulties for foreigners who were not aware of the legislation. Fortunately, the Ministry of Environment and Urbanism has moved on to a new arrangement in this regard and abolished this condition. It is now possible to affix the addendum “not to sell the immovable for three years” in the title deed records after purchasing immovable for US $ 250,000. There are several stages of transfer to Turkish Citizenship with purchase of immovable amount of US $ 250,000. First is the procedures at the title deed, followed by the residence acquire from the Provincial Immigration Authority and then the operations to be carried out by the Directorate of Population and Citizenship. It is an extremely complicated process for foreigners. For this reason, foreigners need help from the experienced lawyers in this field. As Erdoğan Law Firm, we provide legal support for years to foreigners who want to become Turkish Citizens with our lawyers specialized in the Citizenship Law. As soon as the amendment came into effect, our office lawyers personally went to the relevant ministries and learned on-site the procedures and principles of the new regulation amendment. We will perform all the remaining transactions after the purchase of the immovable amounting to US $ 250,000 through the power of attorneys and consent forms on behalf of our clients. Our clients and their families can easily transfer to Turkish citizenship without leaving the country they are in. With this application to be made within the scope of Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law, our customers, their spouses and their children under the age of 18 may become Turkish citizenship. As the Erdogan Law Office we are ready to give you legal support.
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