The Republic of Turkey: Regulation Updates for Turkish Citizenship by Investment
The Republic of Turkey has taken an important step in attracting foreigners who wish to apply for Turkish citizenship by investing or fulfilling certain conditions. One of the steps taken in this direction is the “Regulation Amending the Regulation on the Implementation of the Turkish Citizenship Law,” which was put into force with the decision numbered 7938.
This decision, which introduced an important regulation for foreigners who intend to apply for Turkish citizenship, was taken pursuant to Article 46 of the Turkish Citizenship Law No. 5901. In this context, this amendment, which should be carefully scrutinised by foreign nationals wishing to obtain Turkish citizenship, regulates the processes of obtaining citizenship, especially through investment.
Key Amendments to Turkish Citizenship Regulations
One of the amendments to the Regulation was made in Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law, which was put into effect by the Council of Ministers Decision No. 2010/139 dated 2010. In this context, the phrase “immovable property in foreign currency” has been amended to “immovable property in foreign currency in the form of land on which a condominium or condominium easement has been established or on which a building is located.” This amendment attracts the attention of foreigners who intend to invest in real estate.
This amendment has entered into force as of the date of its publication. Therefore, it is of great importance for foreign nationals to take these new regulations into consideration when applying for Turkish citizenship. The implementation and follow-up of the provisions of the Regulation will be carried out by the President of the Republic.
The Importance of the Recent Amendment for Foreign Investors
In conclusion, the amendment to the Regulation on the Implementation of the Turkish Citizenship Law continues to open Turkey’s doors to foreign investors by regulating the process of obtaining Turkish citizenship through investment. This regulation aims to support the country’s economic growth and attract international investors to Turkey.
Foreign nationals interested in Turkish citizenship should carefully evaluate these new opportunities. Aegean Locations is here to guide you through every step of this process, ensuring a seamless and straightforward experience. Contact us today to learn how to start your journey towards Turkish citizenship through investment.
