On Jan 6, 2022, through presidential decree no: 5072, “Regulation on Amendments to the Regulation on Implementation of the Law on Turkish Citizenship” put into effect as per article 46 of Turkish Citizenship Law no 5901.
REGULATION ON AMENDMENTS TO THE REGULATION ON IMPLEMENTATION OF THE LAW ON TURKISH CITIZENSHIP
ARTICLE 1- Subparagraphs (a), (b), (c), (ç), (d) and (e) of second paragraph, and seventh paragraph of article 20 and of the Regulation on Enforcement of the Turkish Citizenship Law that put into effect with 11/2/2010 dated and 2010/139 numbered decree of the Council of Ministers, has amended as follows and the following paragraphs have been added to come after the eighth paragraph.
“a) The individual whose fixed capital investment of at least 500,000 USD or equivalent in foreign currency is confirmed by the Ministry of Industry and Technology.
b) The individual whose purchase of an immovable worth at least 250.000 USD or equivalent in foreign currency, provided that an annotation is put in the land registry that it will not be sold for three years and promise of sale of an immovable with a contract drawn up in a notary public, provided that a condominium or floor servitude has been established, at least 250.000 USD or equivalent amount of foreign currency has been deposited in advance, and it is stated in the land registry that the transfer and cancellation will not be made for a period of three years, are confirmed by the Ministry of Environment, Urbanization and Climate Change.
c) The individual’s creating employment for at least 50 people is confirmed by the Ministry of Labour and Social Security.
ç) The individual who deposits of at least 500,000 USD or equivalent in foreign currency in banks operating in Turkey, on the condition of keeping them for three years and this is confirmed by the Banking Regulation and Supervision Agency.
d) The individual whose purchase of government debt instruments of at least 500,000 USD or equivalent in foreign currency, provided that they are kept for three years is confirmed by the Ministry of Treasury and Finance of Turkey.
e) The individual whose purchase of real estate investment fund participation shares or venture capital investment fund participation shares of at least 500,000 USD or equivalent in foreign currency, provided that they are kept for three years, is confirmed by the Capital Markets Board.”
“(7) A commission consisting of representatives from the Ministry of Labor and Social Security, the Ministry of Environment, Urbanization and Climate Change, the Ministry of Treasury and Finance of Turkey, and the Ministry of Industry and Technology can be established under the Ministry of Interior to follow the process related to the citizenship applications to be made within the scope of the second paragraph.
“(9) The procedures and principles to be applied in confirming whether the investment conditions within the scope and amount specified in the second paragraph are met shall be confirmed by the institution that made the confirmation.
(10) The foreign currencies which are specified on subparagraphs (b), (ç), (d) and (e) of the second paragraph shall be sold to a bank operating in Turkey and to Central Bank by this bank prior to the operations. Sale Result: Turkish Lira amounts obtained pursuant to subparagraph (ç) of the second paragraph are kept in Turkish Lira deposits, and Turkish Lira amounts obtained pursuant to subparagraph (d) of the second paragraph are kept in Turkish Lira Government debt instruments for a period of three years. Practice principles related to this matter shall be determined by the Central Bank.”
ARTICLE 2- This Regulation enters into effect on its publication date.
ARTICLE 3- The provisions of this Regulation are executed by the President.