Turkish citizenship for foreign investors, a new door for foreign investment in Turkey:
Turkey ranks 17th among the strongest economies in the world today, and despite the faltering of the Turkish economy, growth and development continues in Turkey, where it has achieved a growth rate of 5.5 percent during the past 15 years.
Turkey depends on continuing this growth on two main factors, which are Turkish citizens first and foreign investors second, so we believe that it is constantly keen to provide new opportunities for local and foreign investors.
As is well known, the Turkish government has reduced the minimum requirement for foreign investment in the country to obtain Turkish citizenship, in accordance with recent amendments to the laws enacted on September 19, 2018.
Under these modifications, the marginal values for the various investment patterns needed to obtain citizenship fell to a quarter or a sixth of the previous minimums.
Perhaps it is important to note that those who wish to take advantage of the opportunities available in light of the recent amendments, must enter into new investments. Any investment that occurred before September 19, 2018 does not fall under the scope of the latest amendments.
Thus, fresh blood was pumped to foreign investment in various fields in Turkey.
The most popular ways for foreign investors to obtain Turkish citizenship today is after the recent amendments:
- Turkish citizenship through bank deposits
The amended Turkish Citizenship Law states that a foreign investor who deposits a financial amount of at least $ 500,000 for a period of three years, meaning that this amount is frozen for this period, is entitled to apply for Turkish citizenship, and after the specified period has passed, the investor can recover the funds he deposited in a manner Complete and without deficiency or with its profits, so that he can obtain Turkish citizenship without any other consideration.
Turkish citizenship through real estate investment and buying properties in Turkey
Under the recent amendments to the Turkish Nationality Law, foreign investors can obtain Turkish citizenship from investing in real estate, provided that the value of these investments amounts to $ 250,000, provided that it is stated that the property will not be sold for 3 years within the terms of the title deed of the property or land registry. Thus, foreign investors who wish to move to live in Turkey will be able to obtain Turkish citizenship in conjunction with purchasing homes and properties to live in. Thanks to this amendment, the real estate sector in Turkey witnessed a remarkable demand for buying properties and apartments in Istanbul, Ankara, Antalya and Trabzon in the first place and all other Turkish cities in the second place.
Turkish citizenship to provide job opportunities in Turkey
According to the Turkish citizenship Law, foreign investors who provide employment opportunities in Turkey for at least 50 thousand people, with proof of that submitted to the Turkish Ministry of Labor and Social Services, have the right to apply for Turkish citizenship.
Why foreign investors want to invest in Turkey and obtain Turkish citizenship?
Today, Turkey has more than 60,000 foreign capital companies, which have great capabilities to support and stimulate all forms of investment, thanks to its young and dynamic population composition.
In addition to that, investing in Turkey has many other advantages that encourage investment in Turkey, such as tax cuts and free land allocation, which makes Turkey a magnet for investors. Among the most prominent sectors that grow and lead the Turkish market in the last stages, we find the software and technology sector, which includes various fields such as software development, biotechnology and nanotechnology. And The textile and garment sector and the energy and natural resources sector.
Investing in the sector of real estate in Turkey:
Given the current Turkish economy, and with the depreciation of the Turkish lira, real estate prices have also witnessed a sharp decline, which has provided opportunities for foreign investors to invest in Turkey's real estate market and obtain good and stable profits where one can buy establishments, hotels, oil stations, hospitals, or luxury housing. , Without spending huge amounts of money. Laws do not require investment in a specific type or types of real estate, meaning that the foreign investor is free to choose what he sees from a wide variety of options, such as housing, land, commercial buildings, and others.
Also, the investor no longer needs to provide a title deed in order to be able to obtain Turkish citizenship through real estate investment, as the sale contract suffices. Thus, the investor can purchase the property based on the engineering plan, or from projects under implementation that trade at significantly reduced prices, providing the investor with cost-effective options.
It is possible to purchase a property without installments despite the existence of some new conditions that impose restrictions on the sale of properties in installments.
And do not forget that members of the family of the foreign investor, including a wife and children under the age of 18, are granted the right to obtain Turkish citizenship as well.