Translation of the Amendment for Turkish Citizenship by Investment
Validation Number: 106
Under Article 46 of the Turkish Citizenship Law No. 5901, an amendment decision has been taken in the application of the Turkish Citizenship Law
18 September 2018
Recep Tayyip ERDOGAN
President of Turkey
A DECISION TO AMEND THE APPLICATION OF THE TURKISH CITIZENSHIP GRANTING LAW
The Law relating to the Turkish citizenship in force has been added by the Council of Minister's decision dated 11/2/2010, No. 1/2010/2010.
By amending the term "as requested by the Council of Ministers and the Minister" in Article 20 of the Law, with the term "as requested by the President of the Republic".
And amending the terms in item (a) of the same paragraph, instead of the term "2,000,000 USD" "Ministry of Economy" terms "500,000 USD or what equals in Turkish Lira" "Ministry of Industry and Technologies "... are put.
And amending the terms in item (b), Instead of the term "1,000,000 USD" the term "250,000 USD or equivalent in Turkish Lira".
And amending the terms in item (c) Instead of the term "100" "Ministry of Labor and Social Security" the term "50" is put in order"Ministry of Labor and Social Security".
And amending the terms in item (ç) Instead of "3,000,000 USD" "Treasury Advisory" terms "500,000 or equivalent to Turkish Lira" "Ministry of Treasury and Finance" are put.
And amending the term (d) in this way: "Foreign currency of at least 500,000 USD or at least what equals this amount of money, or a real estate investment equivalent to that amount, or capital investment provided that this investment is to be maintained for at least three years, and verifying that by the Capital Markets Authority."
The terms "and/or the equivalent exchange rate" have been added to the terms "applicable exchange rate" of paragraph 6 of Article 20 of the same Law.
The following paragraphs have been added to Article 20 of the same Law.
(7) A committee will be established in the context of the second paragraph related to the applications for obtaining citizenship and this committee will follow up on the relevant procedures in this context. The committee will consist of Ministries of the: Interior, Family, Labor and Social Services, Environment and urbanization, Treasury and Finance, Industry and Technologies.
(8) A consolidation could be made to complete the identification period for the types of investments to be made in the context of the second paragraph.
This Law shall enter into force on the date of its publication.
The President of the Republic shall apply the provisions of this Law.