Amend the terms of granting Turkish nationality to investors
The Turkish Official Gazette published on Wednesday the decision to amend the executive regulations on the application of the Law of Access to Al-Hanasi, in several ways.
The amendment's decision included the conditions for which any person who has fulfilled any of them is entitled to apply for Turkish citizenship. The conditions are as follows:
- Purchase a property worth 250 thousand US dollars at least one million dollars and not sell for three years.
- Fixed investment of not less than 500 thousand US dollars.
- Providing job opportunities for at least 50 Turkish citizens instead of 100 citizens.
- Reduction of the deposit requirement in Turkish banks from $ 3 million to $ 500 thousand for three years.
The Turkish government announced last year, allowing foreign investors to apply for Turkish citizenship.
Previously, the terms included a purchase of at least one million US dollars worth of property, no three-year sale, a fixed investment of at least US $ 2 million, employment for at least 100 Turkish citizens, or three million dollars in Turkish banks for three years
Quoting Turk Press