9,000 Foreign Investors Obtain Turkish Citizenship By Investment

The Directorate of Population and Citizenship, which is concerned with citizenship affairs in Turkey, has published a statement on its Twitter account regarding the numbers of people who have obtained Turkish citizenship through investment in Turkey.

These numbers came after the amendments to the Turkish Nationality Law were issued on the 26th of July 2016, which grant Turkish citizenship to whoever invests in Turkey as part of the laws defined by a presidential decree issued after the approval of these amendments.

According to these amendments, the value of the real estate has been reduced from one million US dollars to 250 thousand US dollars, thus, the foreign investor has the right to apply for Turkish citizenship after buying a property worth 250 thousand USD.

Accordingly, the Directorate of Population and Citizenship announced in its statement that 9,000 and 11 foreign investors have obtained Turkish citizenship since the amendments of obtaining Turkish citizenship were issued.

In its statement, the Directorate mentioned the total value of investments made with a view to obtaining Turkish citizenship, which amounted to 3,261,500 USD.

Regarding the facilities provided by the Turkish government to facilitate the conditions for Turkish citizenship for investors, the amount of money required to be deposited in Turkish banks in exchange for citizenship has been reduced to 500,000 USD instead of 3 million USD.

One of the amendments reduced the value of fixed investment 2 million USD to 500,000 USD. In addition, owners of projects that provide employment opportunities for 50 Turkish citizens were granted Turkish citizenship, while 100 citizens were required before the issuance of these amendments.

According to these new amendments, every foreigner who meets these conditions is entitled to apply for Turkish citizenship.

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