Amendments to the Turkish Citizenship Law 2024
When the Turkish government launched the Turkish citizenship program in exchange for investment in 2017. A law was issued that allows obtaining citizenship through one of the following investment methods: purchasing a property, making a bank deposit in Turkey, purchasing shares, establishing a company, and employing 50 Turkish citizens. Despite the support and facilities provided by the government to foreign investors, there are always several amendments to the legal regulations for obtaining citizenship in Turkey. In this article from Ebla Real Estate.. We will provide a guide on the amendments to the Turkish Citizenship Law 2024.
Amendments to the Turkish Citizenship Law before 2024:
There have been many amendments to the regulations and conditions for granting citizenship in exchange for investment in Turkey over the past years, including:
As for investing in a Turkish bank, according to the Citizenship Law in 2017, the investor had to deposit two million dollars in the bank. After amending the decision, the applicant should deposit a minimum of USD 500,000 or its equivalent currency or equivalent Turkish Lira to banks that operate in Turkey.
Among the amendments to the conditions for obtaining citizenship through real estate investment in Turkey is that foreigners wishing to purchase a property to obtain citizenship must exchange the foreign currencies specified in the law to the Central Bank of Turkey.
Moreover, among the amendments that took place on 6/12/2022 to the conditions for obtaining exceptional citizenship through investment.. The required limit to obtain Turkish Citizenship raised from $250,000 to $400,000.
Furthermore, the right to obtain Turkish citizenship through the title deed known as dever mülk has been abolished.
It is also no longer acceptable to have a partnership in the title deed.. If the goal is to obtain Turkish citizenship.
In the amendments to the Turkish Nationality Law 2023… It became not possible to apply for Turkish citizenship by buying a property from a company, owned by foreigners.. Even if they have Turkish citizenship.
Moreover, the holder of Turkish citizenship cannot sell his property after the end of the 3-year period to a foreign person with the aim of obtaining Turkish citizenship.
Additionally, the foreigner who obtained Turkish nationality cannot resell the property to the same company or to the person from whom he purchased the property even after three years.
In addition, the property should not be owned by a foreign person in the last three years.. Even if he had Turkish citizenship.
To obtain Turkish citizenship by owning a property.. It is also necessary that there is no kinship between the seller and the buyer.. Even if the seller is of Turkish origin.
Amendments to the Turkish Citizenship Law 2024:
New amendments were announced to the law on obtaining Turkish citizenship in exchange for purchasing real estate, as a presidential decree was issued on 12/11/2024 stipulating that if land is purchased for applying for Turkish citizenship, it must be exclusively “licensed for construction.” Thus, investors are no longer able to apply for Turkish citizenship by buying agricultural land.
Edited by: Ebla Group Real Estate
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