Why do many investors want to obtain the Turkish citizenship?
Turkey has incorporated many laws in its legislative system in recent years, especially in the investment field, in order to develop it in every way possible, where updating of the legal provisions was not limited to what serves local investors only, as the Turkish authorities have sought during the last ten years to adapt legal materials that support the interest of Foreigners in their country, through the enactment of exceptional legislation, which contributed in getting a strong influx of investors of different nationalities from around the world.
Statistics indicate that Turkey was the best destination for foreign investors, led by the Russians, Afghans, Pakistanis, Iranians and Arabs in the last decade due to the flexibility and ease of investment in it, in addition to ensuring its success, as investors recount that they managed to double their capital in a short time, not to mention that the economic prospects that were made available to them by a great country with its richness and diversity and the magnitude of its infrastructure, transportation network and its various facilities such as the largest airport in the world, Istanbul Water Canal and other projects that dazzled the world and attracted attention.
The advantages that attracted foreign investors to Turkey did not depend on doubling the money only, but rather many of them chose Turkey as their residence and others invested in it in order to acquire the Turkish passport, one of the most powerful passports in the world.
In this article, we will try to answer several questions related to this subject, the most important of which are the number of foreign investors who chose Turkey for the purpose of obtaining Turkish citizenship by investment, and what conditions helped them to do so and how much investment they made in order to obtain Turkish citizenship and how to obtain a Turkish passport,by investments and what are the easiest and most effective investments for any foreigner to double his money in Turkey?
A statement issued by the General Directorate of Registry and Citizenship Affairs in Turkey revealed that the total number of foreign investors who obtained Turkish citizenship under the legal amendments relating to the conditions of investment in the country increased significantly in less than two years.
The statement also said that the amendments that were included in the Turkish Nationality Law issued on July 26, 2016 stipulated the possibility of obtaining Turkish citizenship by investment in Turkey according to conditions set in a decree issued by the Turkish presidency later in 2018.
The statement stated as well that the number of foreigners who obtained Turkish citizenship by investment amounted to 9 thousand and 11 investors since the entry into force of the legal amendments approved by the legislative authorities in the country.
The statement of the General Directorate of Registry stated that foreigners who obtained Turkish citizenship made investments inside Turkey amounting to 3 billion and 261 million and 500 thousand US dollars thanks to amendments that opened the door before anyone wishing to carry the Turkish passport.
What is the content of the legal amendments that allowed foreigners to obtain Turkish citizenship?
The recent update in the legislative text on investing in Turkey provided the foreigner with the opportunity to get the Turkish nationality according to four options, which we mention as follows:
● Obtaining Turkish citizenship in exchange for buying a property in Turkey worth 250 thousand US dollars instead of paying a million dollars that were in force in the previous law, with the requirement that the property should not be sold 3 years after the date of purchase.
● Obtaining Turkish passport in exchange for depositing money in Turkish banks, where the last amendment reduced it to $ 500,000 instead of $ 3 million.
● Obtaining Turkish citizenship for a fixed investment of $ 500,000 instead of $ 2 million.
● Obtaining Turkish citizenship in exchange for providing job opportunities for 50 Turkish citizens instead of employing 100 citizens, as the case in the previous law.
Once the conditions are met, foreigners can obtain Turkish passport quite simply and without any complications, and this has allowed nearly 10 thousand foreigners to become Turkish citizens in a short time.