The Turkish Official Gazette announced new amendments to the law on obtaining citizenship through exceptional methods, as the amendments included changing the places of deposit of funds specified in the law.
The “Regulation for Amending the Regulations for the Application of the Turkish Citizenship Law”, which was published in the Official Gazette, Thursday, stipulated that foreigners wishing to obtain citizenship, through exceptional methods such as investing or buying real estate, will have to sell foreign currencies specified in the law, to the Central Bank of Turkey. .
In mid-2016, Turkey made amendments about ways to obtain Turkish citizenship in exceptional ways, such as investing, buying real estate, or opening companies and employing a certain number of Turkish citizens in them.
According to the recent amendments to the Turkish Nationality Law, a foreigner can obtain Turkish citizenship if he buys a property worth more than 250 thousand US dollars, but on the condition that the property is not sold within a period of 3 years.
In another amendment, the condition of depositing a sum of money in Turkish banks in exchange for citizenship was amended, as the condition now stipulates the deposit of $500,000.
The amendments also stipulated setting the value of the fixed investment in exchange for citizenship at $500,000.
In this context and in accordance with the “Regulations for Amending the Regulations Concerning the Application of the Turkish Citizenship Law”, a foreigner wishing to obtain Turkish citizenship, through one of the above-mentioned methods, will sell his specified foreign currencies to the Central Bank of Turkey through one of the banks active in the country, according to what was reported by the agency. Anatolia.
The Turkish lira that resulted from selling the dollar to the Turkish Central Bank will be kept in lira accounts with banks, or with one of the government debt instruments, for a period of no less than 3 years.
