According to Turkish law No.5901 foreign citizens who are going to invest in Turkey will have right to apply for Turkish citizenship. This is wonderful option for foreign investors, because economy of Turkey is growing rapidly. That is mostly foreign investors are taking keen interest to invest in Turkey. You may get many benefits by doing business in Turkey. Here are following criteria that can help foreigners to get Turkish citizenship by investment.
- There is compulsion for foreigners to make at least minimum capital investment of 500,000 USD or it should be equal to Turkish currency lira, attested by Turkish ministry of Industry and Technology.
- They acquire a property worth at least minimum 250,000 USD or it should be equal to local Turkish currency lira. There is also restriction to resale this property at least for three years. It is also attested duly by the Ministry of Turkish Environment and Urbanization.
- Investors have to create jobs at least 50 people. This is attested by the Ministry pertaining to social, labor and family services.
- Investors have to deposit at least 500,000 USD or it should be equivalent to local Turkish currency lira in Turkish banks. There is also restriction of withdrawing this amount for a minimum of three years. It is attested by the Baking Regulation and Supervision Agency.
- Investors have to bring at least 500,000 USD or equivalent to local currency lira that is worth Turkish Government bonds. There is also restriction and condition that they are not able to sale these bonds for three years. It is attested by Ministry of Treasury and Finance.
- They have to bring at least 500,000 USD or it should be equal to local currency lira through which investments can be made in real estate, venture capitals or fund shares. There is also condition for investors, they are not able sale these investments for a minimum of three years. It is attested by Capital Markets Board of Turkey.
Discussed below are the major benefits of Turkish citizenship by investment:
- When you apply for Turkish citizenship you may get your passport within 4 to 6 months.
- You may get benefit of making regular investments and receive a good income. Most importantly, you can also apply for citizenship of other countries across the world.
- Investors have chance to travel across the world owing to your Turkish passport.
Check out this link for Cyprus citizenship by investment Dubai.