981 foreign investors became Turkish citizens
Last Updated: 2020-07-06The Turkish government has granted 981 foreign investors on its territory Turkish citizenship, according to data from the General Directorate of Population and Citizenship Affairs, the affiliated to the Ministry of Interior, and the original nationalities of the investors have been extended to include citizens of the United States of America, Canada, China, Russia and Italy. Australia and Greece.
Since the amendment of the Executive Regulations of the Turkish Citizenship Act on September 19, 2018, 2,700 foreign citizens have expressed their desire to be Turkish citizens, and have invested nearly 1 billion dollars.
In the list of investors who obtained Turkish citizenship, Iran ranked first with 253 people, followed by Iraq with 143 people, followed by Yemen with 97 people, Afghanistan with 94 people, and later, Syria with 59 people, Palestine comes with 58 people, Jordan with 57 people, Egypt with 45 people, then China with 21 people and finally neighbor Azerbaijan with 16 people.
These numbers decrease as we move away from the Middle East to 6 investors from the USA and Russia, four from Canada, Italy and Israel, two from Ukraine and Great Britain, one investor from Australia and others from Greece and Ireland.
According to the amendments of the executive regulation of the law of acquisition of Turkish citizenship by investment, foreign investors have the right to apply for Turkish citizenship if they meet the following conditions:
- Who bought the property for at least $250,000 on condition that it is not sold for three years.
- Who invest fixed capital of at least $500,000
- Who show a document proving that they have deposits in the bank worth at least $500,000 on the condition that the deposits remain in the bank for three years, as well as Turkish nationality for foreigners who prove that they bought the bonds of borrowing from the state provided that they do not sell them for three years.
- Foreigners who prove to be employing at least 50 Turkish nationals.
It is noteworthy that these amendments, which are stipulated in the Executive Regulations of the Law on The Acquisition of Nationality, have contributed significantly to the promotion of foreign investment in Turkey.
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