reactions to new amendments on Turkish nationality varied between the searching
for opportunities to benefit from it and how to apply its conditions to
residents, and hopes to reduce the lower limit. However, there is general
satisfaction in the Arab community towards facilitations, according to a report
by Al Jazeera network.
said that the investment facilitations offered by Turkey to foreigners wishing
to acquire the Turkish nationality opened the appetite of large segments of the
Arab communities working in the sectors of business and real estate investments
new decisions have triggered huge advertising campaigns by real estate
companies and brokerage firms. Investment and real estate law experts expect an
attraction of large segments of foreign investors, who are particularly interested
in the Turkish real estate sector.
has amended the conditions for granting its nationality to foreigners through
real estate and operational investment and through financial deposits in
to the new amendments, Turkish nationality has become in hands for foreigners
purchasing a property worth $ 250,000 and holds it for at least 3 years instead
of $ 1 million according to the old regulations.
who owns a fixed investment of at least $ 500,000 can also apply for Turkish
citizenship after the conditions stipulated were the capital should not be less
than $ 2 million.
to the amendments published in the Turkish Official Newspaper on Wednesday
morning 19 September 2018, the number of Turkish citizens the foreign investor
should employ in to obtain citizenship has been reduced from 100 to 50 workers
has also reduced the required deposit in Turkish banks from $ 3 million to $
500,000 for 3 years.
nationality is an important incentive for foreigners wishing to own property in
the Turkey. It exempts investors from many conditions of establishing companies
gives them right to loans and encouraging investment grants.
also increases the ability of its owner to travel between a large number of
countries that do not require a visa for Turkish passport holders of the
Turkish passport, which is a total of 144 countries.
lawyer Khalil Arslan predicted that the amendment on the Turkish nationality
law would increase the demand for it in the future, but urged foreign investors
to pay attention to legal and technical issues related to other Turkish laws.
pointed out that the value of the new real estate investment does not
necessarily mean owning one property worth $ 250,000 to obtain citizenship,
explaining that the investor can obtain citizenship if he submitted documents
proving ownership of several properties worth together the required amount.
pointed out that property value calculation is in accordance with the dollar
exchange rate on the title deed reception day not the purchasing contract or
Turkish government has announced opening the door to naturalization of
foreigners through real estate ownership late in 2016 after they were offered
the right to permanent residence only through a document renewed annually proving
the continued possession of the property, a condition that is still valid for
owners of real estate does not amount to a 250.000 Dollars.