Last Updated on 14/04/2022
Turkish Citizenship application is about to change
The conditions of Turkish Citizenship acquisition through real estate investment are about to change. To clarify, the minimum amount of investment that gives the eligibility for obtaining the Turkish passport is about to increase.
Turkish Citizenship acquisition value will increase
After the Turkish presidential cabinet meeting that was held yesterday, on April 12th, 2022, It was announced that the minimum value would be increased to the equivalence of 400,000 $ instead of 250,000$. Yet, this new adjustment will come into force after the official publishment in the official gazette.
Till now, we don’t have any official statement regarding an expected change for the minimum capital of the non-real estate investment alternatives.
Furthermore, we should remind that the minimum investment value was reduced previously to 250,000$ in September 2018 after it was 1,000,000$.
Many investors are now curious about the execution limits of this amendment. They wonder to which extent it will affect the foreign buyer who purchased properties in recent dates. We should remind that the regulation of September 2018 started to be executed for the sales made after the date of the official announcement. Likewise, we expect the new regulation to enter into force for the purchases made after the official publication.
Moreover, it is the last chance for investors who are considering acquiring Turkish Citizenship by buying a property. Indeed, we highly recommend that they achieve their sales before the minimum investment value increases.
Meo consultants team follows the affair attentively and will update you with any additional official statement regarding the amendment’s application.
Turkish Citizenship by investment program
In this context, we should remind that the Turkish government has set an investment program for Turkish citizenship acquisition. This program allows foreign investors to be eligible for Turkish passport by making an investment in Turkey. Yet, this program doesn’t require mandatory residence in Turkey.
The investment program for obtaining the Turkish passport includes different investment methods:
- Real estate investment by buying a property worth 250,000$ ( currently).
- Bank deposit: to deposit 500,000$ in a Turkish bank for 3 years.
- Investment of a specific amount: to invest 500,000$ in any sector.
- Job creation: to set up a business and employ 50 Turkish citizens
Learn more about other methods that acquire the eligibility for Turkish Citizenship.
Benefits of Turkish Passport
We should also remind that foreign investors who get Turkish passport will benefit from all the rights and advantages as born Turkish citizens except for military services under certain conditions. In fact, according to the Turkish military service law, a foreign who obtains Citizenship after the age of 22 doesn’t have to fulfill military duty. Furthermore, foreigners who can prove their accomplishment of the military service in their native countries won’t have to do it in Turkey.
Moreover, the application process is quick and easy and takes from 3 to 6 months maximum. Besides, applicants will get Turkish citizenship for their dependent family members, namely the spouse and the children under 18 years old.
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If you want further details about the Turkish Citizenship application, MEO Consultants offer you a complete advisory. Our experienced team gives you also full-service consulting if you seek luxury properties for sale in Turkey.
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