Introduced a new citizenship rule to encourage foreign investment

Turkey published new rules on citizenship ('The Regulation on the Amendment of the Regulation on the Implementation of the Turkish Citizenship Law') in its Official Gazette. Accordingly, foreigners will be able to acquire Turkish citizenship on condition that they, inter alia, (1) purchase real estate worth at least USD 1 million without selling it for at least 3 years, or (2) invest at least USD 2 million in firm capital, or (3) have created jobs for at least 100 people.

• Type:

  • Promotion and facilitation (Investment incentives)

• Industry:

  • Not industry specific

• Sources:

  • Investment support and promotion agency of Turkey, Amendments Ease Access to Turkish Citizenship for Foreign Investors 12.01.2017, http://www.invest.gov.tr/en-US/infocenter/news/Pages/amendments-ease-access-to-turkish-citizenship-for-foreign-investors.aspx, 12 Jan 2017
  • Daily Sabah, Turkey to grant citizenship to investing foreigners, http://www.dailysabah.com/d/business/2017/01/13/turkey-to-grant-citizenship-to-investing-foreigners, 13 Jan 2017
  • Anadolu Agency, New Turkish citizenship rules to encourage investment, http://aa.com.tr/en/economy/new-turkish-citizenship-rules-to-encourage-investment/725992, 12 Jan 2017