Turkey changes conditions for granting citizenship to investors

The Turkish government has made new amendments to the Citizenship Law

The Official Gazette published a presidential decision that increased the limit for obtaining Turkish citizenship through real estate purchases from $250,000 to $400,000. According to the decision, Turkish citizenship can also be granted to foreigners who enter the private pension system with a contribution of at least 500 thousand dollars or the equivalent in foreign currency and remain in the system for three years.

With the amendment made to the regulation on the application of the Turkish Citizenship Law, published in the Official Gazette, the requirement for the purchase of real estate in the amount of 250 thousand foreign currency required for the transition to citizenship of the Republic of Turkey has been increased to 400 thousand foreign currency.

At the same time, the applicant must refrain from selling the acquired property for three years and not withdraw a bank deposit for the same period.

Changes will take effect one month after publication.