World Directions

TURKEY CHANGES FOR GRANTING TURKISH CITIZENSHIP BY INVESTMENT TO SUPPORT LIRA

The Turkish government has made major changes to a regulation that grants Turkish citizenship by investment, the acquisition of real estate or a deposit of money in Turkish banks.

Foreign investors who want to become citizens of the Republic of Turkey will have to consent that they will not withdraw the money they deposit in Turkish banks or sell their properties for at least three years.

On Thursday January 6th, 2022 the Turkish government changed the regulation for investors to obtain Turkey citizenship by investment in a bid to support its Turkish lira, according to a decree published in the Turkish official gazette.

Foreign applicants who make a certain investment in Turkey, buy property or make a fixed capital investment could get second passport through the Turkey Citizenship by Investment Program, it said.

The Turkish citizenship by investment program (often referred to as a Turkey Golden Passport) was launched in 2018.

HOW MUCH DO I NEED TO INVEST IN TURKEY TO GET CITIZENSHIP?

For instance, foreign investors who purchase real estates in Turkey worth at least USD $250,000 or the equivalent in a foreign currency will also be able to benefit from this exception, provided that an annotation is put in the land registry that it will not be sold for three (3) years.

With a minimum fixed capital investment of USD $500,000 or equivalent in a foreign currency, the investor has the right to apply for Turkish citizenship.

IMMIGRANT INVESTORS REQUIRED TO SELL FX TO CENTRAL BANK

In accordance with the new regulation, the foreign currency obtained from the sale of real estate to foreigners will be sold to the central bank through a local bank and converted into Turkish lira prior to the investment transaction, it said.

The currency that investors keep in the bank for investment will also be converted into the local currency, it said.

Based on the above, the investment amount required for obtaining Turkish citizenship will be determined in a foreign currency.

SECOND PASSPORT BY INVESTMENT - OBTAIN A TURKISH PASSPORT

Turkey welcomes foreign investors to apply for citizenship by investment program.

The citizenship by investment industry has undergone a lot of changes in the last two (2) years. Depending on your situation, there are many options. If you prefer to invest less, there are a few of countries that offer Citizenship by Investment Programs.
 
For the Citizenship by Investment Programs comparison table, please click here.

To see our Citizenship and Residency Programs by Investment in Real Estate comparison table, please click here.  

To see our Caribbean citizenship by investment comparison table, please click here

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