400 Thousand US Dollars, a Simple Amendment to One of the Conditions of Obtaining Turkish Citizenship
Last Updated: 2022-11-02Ankara - amends the Turkish Citizenship by Investment Law
The Turkish Government intends to amend one of the conditions for obtaining exceptional citizenship by purchasing a property in Turkiye, namely the price condition to purchase a flat in Turkiye.
Hence, the price of the flat required in order to obtain exceptional Turkish citizenship, after the decision comes into effect, will become 400 thousand US dollars, where it was 250 thousand dollars previously.
This followed the Council of Turkish Ministers meeting, in the presence of Turkish President Recep Tayyip Erdogan, which will enter into force by the end of the first third of June 2022.
According to the text of the resolution, the rest of the other conditions will remain the same, such as not selling the property before three years from the date of purchase, and currency conversion should be at the Central Bank of the Republic of Turkiye.
However, the decision will not make a tremendous difference for the investors, who are interested in obtaining Turkish citizenship. Especially if compared to the conditions for obtaining citizenship in several countries around the world, such as Cyprus and Malta.
Moreover, there are also some countries that require permanent residence permit, and after a long time the citizenship. Only after navigating many complexities and conditions, which are seen by some as impossible, such as Canada, the United States of America, Spain and New Zealand.
Source: Anadolu Agency
Edited by Mersat Real Estate Team ©
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