981 foreign investors become Turkish citizen

Dünya Executive - - OVERVIEW -

Hundreds of foreign investors have become Turkish citizens since late 2018, according to data by the country’s Interior Ministry. Since several amendments made to the “Regulation on the Implementa­tion of Turkish Citizenshi­p Law” on September 19, 2018, a total of 981 foreign investors - including citizens from the U.S., Canada, China, Russia, Italy, Australia and Greece - have become Turkish citizens. Foreigners who have invested at least $500,000 in fixed capital,

purchased real estate that is not to be sold for three years, provided employment opportunit­y for at least 50 employees, deposited cash to banks operating in Turkey on the condition of keeping it for three years, or purchased government debt instrument­s on the condition of keeping them for three years may acquire Turkish citizenshi­p, according to the regulation. Since the amendment of the regulation, 2,700 foreigners seeking Turkish citizenshi­p have made investment­s amounting to nearly one billion dollars.

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