The exceptional Turkish citizenship decision

The official newspaper in Turkey announced the issuance of a decision to reduce the estimated value of acquiring Turkish citizenship, which was two million US dollars, to the value of half a million dollars.

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The official newspaper of Turkey announced that a decision was taken to facilitate the conditions for foreigners to obtain Turkish citizenship, as the estimated value of acquiring Turkish citizenship, which was two million US dollars, was reduced to half a million dollars, and the estimated value of property owners in Turkey was reduced from the value of one million US dollars to 250 one thousand dollars.

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According to the official newspaper, some changes have been made in Resolution No. 106, which is related to the acquisition of Turkish citizenship by foreigners. This decision, issued with the approval of Turkish President Recep Tayyip Erdogan, includes making some changes in Article 20 of the decision, which stipulates that foreigners obtain Turkish citizenship in general. Exceptional, which has been in effect since 2010, and according to the new changes, the estimated value of obtaining Turkish citizenship has been reduced from two million US dollars to the value of half a million dollars. In addition, the estimated value for obtaining Turkish citizenship by owners of immovable property in Turkey has been reduced from one million US dollars for the value of 250 thousand dollars.

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The official newspaper added that the decision providing for granting Turkish citizenship to every employer who employs at least 100 workers has been amended, as the number of workers has been reduced from 100 to 50, and in addition to that, the amount of deposit required to obtain Turkish citizenship has been reduced from the three. A million US dollars for half a million dollars.

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According to the new changes based on the decision of Turkish President Recep Tayyip Erdogan, the second paragraph of Article No. 20 related to the acquisition of Turkish citizenship by foreigners has become as follows:

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- Foreign citizens can obtain Turkish citizenship if one of the conditions mentioned below is met based on the amendment made to Clause (b) of the first paragraph of Law No. 12 with the approval of Turkish President Recep Tayyip Erdogan, and the conditions areAs follows:

1- Foreigners whose investment is confirmed by the Turkish Ministry of Industry and Technology of at least half a million US dollars or the same value in another exchange currency or the same value in Turkish lira.

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2- Foreigners who have been confirmed by the Turkish Ministry of Environment and Cities to purchase immovable property with a value of not less than 250 thousand US dollars or the same value in another exchange currency or the same value in Turkish lira, with an explanation that there is no possibility of selling these properties for a period of at least three years.

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3- Foreigners who have been confirmed by the Turkish Ministry of Labor and Social Security to employ at least fifty workers in the workplace.

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4- Foreigners whose investment has been confirmed by the Turkish Banking Regulation and Supervision Agency of not less than half a million US dollars or the same value in another exchange currency or the same value in Turkish lira in banks operating inside Turkey.

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5- Foreigners whose deposits of at least half a million US dollars or the same value in another exchange currency or the same value in Turkish lira have been confirmed by the Turkish Banking Regulation and Supervision Agency in active banks inside Turkey, provided that the said amount is kept for at least three years in Turkish banks. .

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6- Foreigners who have been confirmed by the Turkish Ministry of Finance and Treasury to hold government debt instruments with a value of not less than half a million US dollars or the same value in another exchange currency or the same currency in Turkish lira for at least three years.

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7- Foreigners who have been confirmed by the Turkish Investment Support and Promotion Agency to purchase a share in a real estate investment fund or a capital investment fund in an amount of not less than half a million US dollars or the same value in another exchange currency or the same value in Turkish lira, and to keep this share for at least three years .