A New Era in the Acquisition of Turkish Citizenship


The Regulation on the Amendment of the Regulation on the Implementation of the Turkish Citizenship Law was published in the Official Gazette No. 31834 with the decision numbered 5554 on 12.05.2022. Within the scope of this amendment, important changes have been made in the condition of acquiring Turkish citizenship through the acquisition of real estate, which is included in the 20th article of the Regulation on the Implementation of the Turkish Citizenship Law dated 11.02.2010. In this respect, with the amendment made in subparagraph (b) of the second paragraph of the Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law, the condition of purchasing real estate in the amount of 250.000 US Dollars or equivalent in foreign currency has been changed to purchase real estate in the amount of 400.000 US Dollars or equivalent foreign currency. . The relevant amount was increased from 250,000 to 400,000. This new provision of the regulation will enter into force 1 month later and this condition will be implemented as of 13 June.

 

Along with the Official Gazette dated 12.05.2022, subparagraph (f) was added to the second paragraph of Article 20 of the same regulation and the 10th paragraph of the same article was amended. The changes stated below will come into effect from the date of publication of the changes, contrary to the change we mentioned above, and if we need to examine these changes closely:

 

Clause f, added to Article 20 of the Regulation on the subject, states that “At least 500,000 USD or equivalent foreign currency contribution is kept in the funds determined by the Insurance and Private Pensions Regulation and Supervision Agency, and on the condition of staying in the system for three years, in the Insurance and Private Pension System. Determined by the Regulatory and Supervision Agency.” The right to acquire Turkish citizenship is defined for foreigners who meet these conditions.

 

· Again, the amendment made in paragraph 10 of the Article 20 of the Regulation on the subject: “The foreign currency amounts specified in sub-paragraphs (b), (ç), (d), (e and (f) of the second paragraph are transferred to a bank operating in Turkey before the transaction and by this bank. As a result of the sale, the Turkish Lira amounts obtained in accordance with the subparagraph (ç) of the second paragraph are in Turkish Lira deposits, the Turkish Lira amounts obtained in accordance with the subparagraph (d) of the second paragraph are in the State debt instruments in Turkish Lira, in accordance with the subparagraph (f) of the second paragraph. The Turkish Lira amounts paid in the private pension system are kept in the funds determined by the Insurance and Private Pension Regulation and Supervision Agency for a period of three years. The implementation principles regarding this issue are determined by the Central Bank of the Republic of Turkey.” the sale of foreign currency subject to purchases and investments to the Central Bank of the Republic of Turkey. At the time of sale, it is stipulated that the Turkish Lira amount to be obtained in return for the sale is kept for a period of 3 years in the relevant investments.

 

As a result, these amendments have been made in the Official Gazette dated 06.01.2022, while it is necessary to purchase an immovable in the amount of at least 250.000 USD or equivalent in foreign currency in order to acquire citizenship through the acquisition of real estate in Turkey. With the amendment, it has been changed as the purchase of an immovable amounting to at least 400,000 USD or equivalent in foreign currency, and the relevant amount has been increased. At the same time, foreigners with private pensions will be entitled to Turkish citizenship, provided that they keep the amount of 500,000 USD or equivalent in foreign currency in the funds determined by the Insurance and Private Pension Regulation and Supervision Agency for 3 years.

 

Tags : Turkish citizenship, acquiring Turkish citizenship, applying for Turkish citizenship, steps for Turkish citizenship, Turkish citizenship lawyer, foreigners law Turkey, Alanya Citizenship, Alanya Real Estate Law, Alanya Foreigners and Citizenship Law, foreigners lawyer, Alanya lawyer, Alanya Lawyer

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