LAST MINUTE NEWS: The conditions for the transition to Turkish citizenship with a real estate purchasein Turkey have been changed.
The financial conditions and investment amounts to obtain Turkish citizenship have been reduced for foreigners. This decision of the President was published in the Official Journal. The estimated purchase price for a property in Turkey has been reduced from $ 1 million to just $ 250,000.
The new regulation amending the application of Turkish citizenship law when purchasing real estate in Turkey has been published in the current issue of the Official Journal:
1. The minimum capital of $ 2 million has been reduced to $ 500,000.
2. The value of a property in Turkey entered in the land register and set for at least 3 years has been reduced from $ 1 million to $ 250,000.
3. The amounts required to obtain citizenship in Turkish banks or the purchase of government debt for a period of at least three years was limited from $ 3 million to $ 500,000.
4. The amount of investment funds has been reduced from $ 1.5 million to $ 500,000.
5. In addition, for the acquisition of Turkish citizenship through the creation of jobs, the upper limit on employment was reduced from 100 to 50 people.