The Turkish Citizenship Investment Law was issued for the first time in 2017, allowing foreigners to obtain citizenship through investment under certain conditions, learn more about them here: Turkish citizenship through real estate investment.

Since then, some amendments to this decision have been issued from time to time, and the last of these amendments was in January 2022

The New Decision for 2022:

1- When making a bank deposit with the aim of obtaining citizenship, the investor deposits $500,000 in his bank account, then sells it to the Central Bank of Turkey and keeps the transferred amount in lira for 3 years.

2- The amount deposited in Turkish lira will be refunded after 3 years and without protection from changing exchange rates.

3- When a foreigner purchases a property in Turkey, he must transfer the amount from hard currency to Turkish lira in a Turkish bank, with explaining the reason for the exchange.

4- When completing a real estate purchase transaction, hard currency must be transferred or deposited in a Turkish bank and from there to the Central Bank, and the transfer is not accepted in exchange offices or giving money hand to hand  in hard currency

5- A certificate of foreign exchange sale must be obtained from the Central Bank of Turkey when buying a property by a foreign citizen.

Edited By Aldar Real Estate ©