IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 05 May 2017 | Removal date: open ended
Still in force

FDI: Entry and ownership rule

On 5 May 2017, Decree  2017/10008 was published in the Turkish Official Gazette number 30057. This Decree entered into force on the same day that it got published.

Decree 2017/10008 for the first time introduces eased citizenship acquisition for foreign investors who for a minimum period of three years have held at least USD 1.5 million in real estate or venture capital investment funds within the jurisdiction of Turkey. Specifically, foreigners that have engaged in these types of investments will now for the first time have the right to directly apply for Turkish citizenship -- without the need to complying with the general criteria for the naturalization of foreigners in the Turkish jurisdiction.

 

The general criteria for citizenship acquisition in Turkey, amongst others state that foreigners need to reside in Turkey for minimum 5 years prior to filing a citizenship application. Furthermore, these criteria also highlight the necessity for foreigners to have a good command of Turkish as well as to have a proven intention to reside in Turkey. Foreigners holding minimum USD 1.5 million in real estate or venture capital can now ( as a result of Decree 2017/10008 ) acquire directly a citizenship in Turkey, without needing to comply with the general citizenship criteria who are applicable to foreigners willing to become naturalized Turkish citizens.

AFFECTED COUNTRIES

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