Simplified conditions for obtaining Turkish citizenship
Simplified conditions for obtaining Turkish citizenship now. Turkey has taken an unprecedented step and sharply reduced the amount of investment required to obtain citizenship. Previously, foreigners could obtain a residence permit when buying real estate in Turkey for any amount. More recently, the country’s authorities have lowered the minimum investment threshold for citizenship to encourage foreign investment.
Simplified conditions for obtaining Turkish citizenship – what Turkey will need from foreigners
To obtain a Turkish passport, a foreigner must fulfill one of four conditions:
Invest in production or business in Turkey $500 000 (previously $2 000 000)
* Buy real estate with a value of $ 250 000 (previously $1 000 000)
* Deposit $500 000 (previously $3 000 000) in a Turkish Bank)
* Create 50 jobs (previously 100).
Now it will not take more than 45 days to obtain citizenship.
How to apply for citizenship
In addition, special offices will be opened in Istanbul and Ankara, where any foreigner will be able to issue a residence permit or citizenship. Offices for residence and citizenship opened on 22 October 2018. They will provide the following services: to check compliance with the requirements for obtaining a residence permit and citizenship, to support investors, to provide advice, and to accept the relevant documents.
To maintain citizenship, assets in Turkey must remain in the ownership of a foreigner for at least three years. This decision suggests a further increase in interest in local real estate.