Conditions of becoming a Turkish citizen by Capital Investment

With the "Regulation on Amending the Regulation on the Implementation of the Turkish Citizenship Law", which was published in the Official Gazette dated 12 January 2017 and numbered 29946, it was decided that the persons determined by the Ministry of Economy to have made a fixed capital investment of $ 500,000 can be granted citizenship with the proposal of the Ministry of Interior and the Decision of the Council of Ministers. . Pursuant to the aforementioned Regulation, citizenship applications of foreign natural persons will be evaluated within the framework of the procedures and principles below.

Application and Evaluation Process
1. Foreign real persons who will apply for citizenship based on a fixed capital investment of $ 500,000, make a written application to the Ministry of Economy with the following documents.

In the annex of the application petition signed by the applicant;

a. Completely filled investment information form
b. Photocopy of the pages of the passport containing the identity information
c. Trade registry gazette record showing the shareholding structure and capital amount of the legal entity that made the fixed capital investment that forms the basis of the application.
D. CPA approved special purpose report showing the fixed capital amount (The report will include the determinations regarding the fixed capital investments made after the publication date of the regulation. In the applications to be made in the following years, the fixed capital investments made in the maximum 3-year period before the application date will be considered within the scope of the report)
to. In the same CPA Report, it is determined that the foreign direct investment amounting to USD 500,000 has been transferred to the equity capital of the company and the relevant foreign currency deposit account receipt is submitted.

2. The application is submitted to the Ministry's approval if it is determined that it meets the necessary conditions by the Ministry of Economy, General Directorate of Incentive Implementation and Foreign Capital. Applications that do not meet the necessary conditions are rejected by the General Directorate of Incentive Implementation and Foreign Capital. For applications made with incomplete information and documents, applications that fail to complete the missing information and documents within 1 month following the date of the written notification to the applicant are removed from the process without the need for any additional action.

3. Applications approved by the Ministry's Authority are sent to the Ministry of Interior for necessary procedures.

Descriptions

a. In case the foreign investor is a shareholder of the investing company at a certain rate; The amount to be obtained as a result of multiplying the ratio corresponding to the share of the individual to the investing company with the total investment amount must be at least $ 500,000.
b. The date of 12 January 2017, when the regulation was issued, will be taken into account in determining the fixed capital investment amounts. Fixed capital investments made before this date will not give rise to the right to apply for citizenship.
c. When calculating fixed capital expenditures for applications to be made in the following years, a maximum of 3 years of retroactive expenditures will be taken into account.
D. If an additional fixed capital investment is made on an existing investment, the increase in the fixed capital investment amount will be taken into account as of the date of the additional investment.
to. The process regarding the citizenship procedures of the applicants, who are identified by the administration to which they have applied with a false and misleading document due to their content, is stopped, and a notification is made to the Ministry of Interior for the removal of citizenship of those who have acquired citizenship. Applications to be made at a later date by persons who apply with false and misleading documents due to their content will not be considered even if they meet the relevant criteria.