Turkish citizenship for 400 thousand dollars instead of 250 thousand dollars

The decision issued by the Official Gazette on today dealt with the amendment of the law on obtaining exceptional Turkish citizenship by purchasing a property to be worth: 400 thousand dollars instead of 250 thousand dollars.

The new law will enter into force on June 13.

Until this date, work will be carried out according to the old system, approving the value of 250 thousand dollars for the property eligible for Turkish citizenship.

The decision issued by the Official Gazette today dealt with the amendment of the law on obtaining exceptional Turkish citizenship by purchasing a property to be worth: 400 thousand dollars instead of 250 thousand dollars.

The new law will enter into force on June 13.

Until this date, work will be carried out according to the old system, approving the value of 250 thousand dollars for the property eligible for Turkish citizenship.

Translation of the decision to amend the value of the property suitable for Turkish citizenship

A translation of the decision issued in the Official Gazette reads as follows:

• Official Gazette No. 31834 dated Friday 13/05/2022.

• Resolution No.: 5554.

• The decision was taken to implement the implementing regulations regarding a change in the implementing regulations for the implementation of the Turkish Nationality Law pursuant to Article 46 of the Turkish Nationality Law No. 5901.

The executive regulations relating to a change in the executive regulations for the implementation of the Turkish Nationality Law:

• Article 1: The phrase 400,000 dollars shall be replaced by the phrase 250,000 dollars, which is contained in Clause B of Article 20 of the Executive Regulations relating to the implementation of the Turkish Citizenship Law, which entered into force pursuant to Cabinet Decision No. 2010/139 dated 11/2/2010.

• Article 1 shall enter into force one month after its publication in the Official Gazette.

The stages that the real estate ownership law has gone through in exchange for Turkish citizenship

The stages that the real estate ownership law has gone through in exchange for Turkish citizenship

It is noteworthy that the decision to own real estate leading to obtaining Turkish citizenship has gone through several stages from the date of its first issuance until today:

• The first decision in 2017, allows obtaining Turkish citizenship in return for owning a property worth (one million US dollars) or it’s equivalent in local currency or hard currencies.

• Amendment to the decision in 2018, according to which the specified value of the real estate investment leading to Turkish citizenship was reduced to (250 thousand US dollars or its equivalent), provided that the property is not sold or transferred to another party for a period of three years.

• The last amendment that we care about, according to which the value of the property leading to Turkish citizenship was raised to (400,000 US dollars or its equivalent).

An exclusive opportunity to benefit from the Turkish citizenship decision in return for owning a property of 250 thousand US dollars

It is also useful to refer to the time limit available in the decision issued today before its implementation, which may open the way for those wishing to benefit from the previous law.

Where the deadline for implementing the decision to raise the value of the property to 400,000 US dollars instead of 250,000 dollars was set on June 13, 2022, which constitutes an opportunity and is not compensated for a full month for investors wishing to benefit from the period available before the implementation of the last decision.