Nıl Demirkazık exclusives from judge3 January 2018
What is mission of the Court of Cassation (Supreme Court of Appeals of Turkey )13 November 2018
With today’s issue of official newspaper due to the 106th decision some of regulations according to acquire of Turkish citizenship of foreigners have been changed. Amount of fixed capital for getting the right to Turkısh citizenship was reduced from $2 000 000 to $500 000. Minimal amount of real estate for foreigners to acquıre Turkısh cıtızenship was reduced from $1 000 000 to $250 000
In the statement of Mınıstry of Interior Affairs was mentioned that specific offices will be opened and process will be finished ın the shortest time.
Wıth the decision published after President Recep Tayyip Erdogan’s sıgnature, coming into force ın 2010 Code to the İmplementation of Turkish Citizenship Law’s article 20, whıch is about exceptionally gaining of Turkısh citizenship by foreigners, was changed.
Due to the new regulation, in order to gain Turkish citizenship amount of fixed capital lowered from $2 000 000 to $500 000.
Also, amount of real estate for earning citizenship for foreigners who own real estate was brought down from $1 000 000 to $250 000.
Additionally, another condition of earning citizenship which stipulates employment of minimum 100 people was changed and lowered to 50 people. Amount of deposit in banks of Turkey to obtain the citizenship was reduced from $3 000 000 to $500 000.
HERE İS THE REGULATİON:
Wıth the change accordıng to the President’s decision article 20 paragraph 2 is like this:
Foreigner providing any of conditions stated below, can gain the citizenship according to theLaw’s article 20 paragraph 1 versicle b:
Those determined by the Ministry of Industry and Technology who established minimum $500 000 or equivalent of USD or Turkish Liras to fixed capital investments
Those determined by the Ministry of Environment and Urbanisation who established minimum $250 000 or equivalent of USD or Turkish Liras to real estate which ıs registered to land register wıth the condition of not selling it during 3 years
Those determined by the Ministry of Family, Labor and Social Services who employs minimum 50 people
Those determined by the Council of Bank and Regulation who established minimum $500 000 or equivalent of USD or Turkish Liras to Money on deposit with the condition of keping it during 3 years in banks active in Turkey
Those determined by the Ministry of Treasury and Finance who established minimum $500 000 or equivalent of USD or Turkish Liras to purchase of public borrowing meand with the condition of keeping it at least during 3 years
Those determined bu the Stock Exchange Commıssıon who established minimum $500 000 or equivalent of USD or Turkish Liras to real estate property investment fund share or venture fund investment fund share with the condition of keeping ıt at least during 3 years
SPECİAL OFFİCES WİLL TAKE CARE ONE TO ONE
On the other hand for following the process of gaining the citizenship within the Ministry of İnterior Affairs will be established a commıttee consisted of delegates from the Ministry of Family, Labor and Social Services, Ministry of Environment and Urbanisation, Ministry of Treasury and Finance, the Ministry of Industry and Technology.
By openin special offices process of gaining citizenship will be followed one-to-one and processes will be made in the shortest time. Follow-up of offices and process will be followed by the commıttee established within the Ministry of Interior Affairs.