CHANGES ABOUT THE CONDITIONS OF ACQUIRING TURKISH CITIZENSHIP

20/09/2018

Our announcement regards the updates on The Implementation Of The Turkish Citizenship Law Regulation (“Regulation”) published in the Official Gazette dated 6, April, 2010 and numbered 27544 for showing the new investments’ price to gain Turkish citizenship.

The purpose of the Regulation is to determine how to acquire, lose and prove Turkish citizenship and multi-citizenship.

With the President’s award called “Implementing Regulation Amending the Regulation on the Implementation of the Turkish Citizenship Law” dated 18, September, 2018 and numbered 106 some changes have been made on the Regulation.

Exceptional acquisition of Turkish citizenship shall be made by the decision of the President in accordance with the conditions specified in the Regulation within the scope of the Turkish Citizenship Law (“Law”) numbered 5901. According to the Law, the foreigner who will acquire Turkish citizenship must be within the scope of “residence permit and Turkuaz Card holder and their foreign spouse, his/her minor or dependent minor child”.

Foreginer must provide at least one of the conditions have stated at the below;

• It should be identified by the Ministry of Industry and Technology that the foreigner has been provided capital investment at least USD 500.000 or foreign currency or Turkish Lira,
• It should be identified by the Ministry of Environment and Urbanization that the foreigner has been purchased real estate at least USD 250.000 or equivalent foreign currency or Turkish Lira on condition that putting an annotation on to the title deed that the real estate will not be sold for three years,
• It should be identified by the Ministry of Family, Labor and Social Services that the foreigner has been provided at least 50 employees,
• It should be identified by the Banking Regulation and Supervision Agency that the foreginer deposited at least USD 500.000 or equivalent foreign currency or Turkish Lira on condition that kept in the account for three years under the banks operated in Turkey.
• It should be identified by the Treasury and the Ministry of Finance that the foreigner has been purchased internally held public debt of at least USD 500,000 or equivalent foreign currency or Turkish Lira on condition that kept them for three years,
• It should be identified by Capital Markets Board that the foreigner has been purchased the participitaion share of the real estate investment or the venture fund at least USD 500,000 or equivalent foreign currency or Turkish Lira on condition that kept for three years.

Moreover; while stating acquisition Turkish citizenship’s costs, it will be based on Central Bank of Turkey Republic’s effective selling rate and/or cross exchanges rates.

Also, it can be established a commission within the scope of the Ministry of Interior (composed by the representatives of Ministry of Family, Labor and Social Services, Ministry of Environment and Urbanization, Ministry of Treasury and Finance, Ministry of Industry and Technology) for following the application of the acquisition Turkish citizenship.

According to the Regulation, transitivity has been made possible for the duration between the investment’s types.

If there is need of any other information about the article, please contact the below stated person.

Ersin Nazalı Managing Partner, Attorney, CPA enazali@nazali.av.tr

Hatice Zümbül Director, Litigation and Dispute Resolution hzumbul@nazali.av.tr