03
May
Having a Home in Istanbul and Being at Home in Istanbul - Turkish Citizenship
Feeling part of the community you are living is an important part in integrating into it. Most foreigners either investing in a home or business in Turkey are already making a huge personal commitment to the country in several ways, financial, familial & cultural. To assist in this, the Turkish Government have recently implemented new laws governing Turkish Citizenship. The amendments to the original laws, Article 20 of the Governing Regulations of Turkish Citizen code was instituted on 12.01.2017. Now foreigners to the country who wish to become a citizen and feel at home in Istanbul or anywhere else in the country can do so if they fulfil one of the specified criteria.
The Central Bank of the Republic of Turkey will take the date of verification into consideration to determine the value of the above amounts.
- Invest at least $2 million fixed capital in Turkey, subject to verification by the Ministry of Economics.
- Purchase property to a value, not below $1 million, and an assurance that it will not be sold for three years, by annotation at the land registry.
- Places at least $3 million into a Turkish Bank or buys Turkish Government Bonds and keeps them for a least three years. Both to be authenticated by relevant Turkish authority
- Employs 100 or more people, subject to Labour and Social Security Ministry verification.
The laws are similar in kind to ones found in other countries in the European Union and the United States of America with some subtle differences.
- The source of the money used to invest or be banked has to be clearly shown, to ensure it is legal.