| Date: | Wednesday, January 26, 2022 |
Turkey is one of the most famous countries in the world in terms of investment, as investors focused on.
Clarify the new adjustments to the turkish citizenship law
Turkey is one of the most famous countries in the world in terms of investment, as investors turned their attention to Turkey to take advantage of the advantages offered by the Turkish state to investors.
According to the recent amendments, a foreigner can obtain Turkish citizenship if he buys a property worth more than 250 thousand US dollars, but on the condition that the property is not sold within a period of 3 years.
And according to what Anadolu Agency reported, Turkey announced, Thursday, 06/01/2022, that it will make amendments to the conditions for obtaining citizenship through exceptional methods such as investing or buying real estate, whereby foreigners who wish will have to sell the foreign currencies specified in the law, to the Central Bank of Turkey.
However, a new clarification was issued on the amendment of the Turkish Nationality Law on January 21, 2022, in which many ambiguous matters regarding the amendment of the Turkish Citizenship Law through investment were demystified, and the most important of which was:
- The law was promulgated on January 21, 2021, meaning that the law does not apply to those who paid before the law was issued, even if one day before the law was issued.
- The amount must be transferred to the seller's account in Turkish lira exclusively.
The amount must be entered in dollars in the central bank, and exchanged into pounds in the central bank.
- When exchanging the amount from dollars to pounds in the central bank, the intermediary bank must write in the clarification the name of the customer, his passport number, and the Turkish residency number, if any, and specify that it is for the purpose of applying for Turkish citizenship, otherwise it is not possible to apply for citizenship Turkish.
- Who wants to transfer an external transfer to the seller's account, the matter is not clear until now.
- When the amount is exchanged in the Central Bank, you are not entitled to withdraw from the sale of hard currency to the Central Bank.
- When applying for Turkish citizenship, a receipt for the exchange of the amount is requested from the Central Bank, and the transfer is made to the seller's account.
- It is not right to apply for Turkish citizenship for those who do not attend the receipt of the exchange of the amount in the Central Bank.
- The intermediary bank between you and the Central Bank in disbursing the amount, it must be the same bank from which the transfer is made to the seller’s account.
Any violation of these conditions, you are not entitled to apply for Turkish citizenship.
Legal Counsel’s advice: When applying for a Turkish citizenship transaction, it must be supervised by a lawyer, because any unintended mistake or violation of the previous conditions may deprive you of obtaining Turkish citizenship, so it is necessary to appoint a lawyer with experience in Turkish law, and follow up on Turkish citizenship transactions.
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