If you, like many others, are looking to gain citizenship in Turkey, then just a property purchase of $250,000 USD will entitle you to this. Since the amendment to the Turkish Citizenship Law 2611 foreign investors have taken advantage of the change, with the number of applications standing at 3859.
In terms of a fixed capital investment, the minimum requirement was reduced from $2m down to $500,000, and the minimum for a property purchase that remained in the hands of the buyer for 3 years, was reduced from $1m to just $250,000.
Other amendments to the Citizenship law also included a reduction by half in the number of employment opportunities to be created by the investment from 100 down to 50, and the deposit terms that had to be kept in a bank operating in Turkey for 3 years was changed, and the amount was reduced to $500,000.
There’s been a wide range of people who have gained citizenship under the new terms and these include Americans, Russians, Canadians, Brazilians and Iraqis. Of course, the hope is that there will continue to be widespread interest from those countries and others globally, as Turkey’s economy grows from strength to strength and further heightens it’s bid to be one of the biggest players in the financial world.
If you would like further information on how to gain citizenship, the requirements in full detail and the process, then please speak with us at Turkish Connextions, the number one property ^ lifestyle specialists in Turkey.