Turkish law provides for an investor citizenship program that allows foreign individuals making certain types of investments in Turkey with a value over a specified threshold to acquire Turkish citizenship. From real estate investors to government bond buyers, a wide range of investors can be eligible to acquire Turkish citizenship.

On September 19, 2018, Regulation on the implementation of Turkish Nationality Law has been amended so as to decrease the threshold amounts. With this amendment, Turkish investor citizenship program has become more attractive for foreigners.

Following types of investments grant the foreign investor the right to acquire Turkish citizenship:

i. Turkish citizenship by real estate investment

Foreigners acquiring real estate worth at least USD 250.000 in Turkey are eligible for Turkish citizenship.

Please note that in order for the foreigner to become eligible for Turkish citizenship,
i. The real estate (or real estates) must be acquired after September 19, 2018;
ii. the foreigner must undertake not to transfer the real estate for a period of 3 years and this undertaking must be annotated in the title deed records.

Ministry of Environment and Urban is the relevant government authority that will issue confirmation letter stating whether the particular real estate purchase meets the investment criteria required for citizenship.

ii. Turkish citizenship by fixed capital investment

Foreigners making a fixed capital investment worth at least USD 500.000 in Turkey are eligible for Turkish citizenship.

The term “fixed capital investment” means physical assets such as machinery, land, plant, technology or vehicles. Acquisition of shares of a Turkish company is also considered a fixed capital investment.

Ministry of Industry and Technology is the relevant government authority that will issue confirmation letter stating whether the particular fixed capital investment meets the investment criteria required for citizenship.

iii. Turkish citizenship by depositing money into a Turkish bank account

Foreigners depositing at least USD 500.000 in a bank account located in Turkey and undertaking not to withdraw the funds for a period of 3 years are eligible for Turkish citizenship.

Foreign investors can keep the money in any currency as long as it equals to the equivalent of USD 500.000 at the exchange rate applicable as of the date of deposit.

Banking Regulatory and Supervision Authority (BRSA) is the relevant government authority that will issue confirmation letter stating whether the deposit meets the investment criteria required for citizenship.

iv. Turkish citizenship by creating employment

Foreigners creating employment for at least 50 people in Turkey are eligible for Turkish citizenship.

Ministry of Family, Labor and Social Security is the relevant government authority that will issue confirmation letter stating whether employment creation meets the criteria required for Turkish citizenship.

v. Turkish citizenship by investing in government debt securities

Foreigners buying government debt securities for at least USD 500.000 and undertaking not to transfer them for a period of 3 years are eligible for Turkish citizenship.

Ministry of Treasury and Finance is the relevant government authority that will issue confirmation letter stating whether the purchase of government debt securities meet the investment criteria required for Turkish citizenship.

vi. Turkish citizenship by investing in real estate investment funds or venture capital fund in Turkey

Foreigners buying participation units worth at least USD 500.000 in Turkish real estate investment funds (REIF) or venture capital funds (VCF) and undertaking not to transfer them for a period of 3 years are eligible for Turkish citizenship.

Capital Markets Board of Turkey is the relevant government authority that will issue confirmation letter stating whether the purchase of participation units in REIFs or VCFs meets the investment criteria required for citizenship.