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A total of 210 foreign investors have applied for Turkish citizenship since the country simplified the process, Interior Minister Suleyman Soylu said yesterday. "Testing of the visa system began on October 22. By October 30, 210 applications had been submitted in Istanbul and Ankara," Soylu said after a visit to the migration directorate in Ankara.
Turkey has revised its requirements for foreigners and simplified the process of obtaining citizenship for investors. The new rules were published in the Official Gazette on September 19. In October, the Ministry of Interior announced the opening of special offices for obtaining citizenship or a long-term residence permit for foreign investors under a simplified scheme. These offices will provide consultations and assistance with submitting applications.
The Interior Minister said that to obtain Turkish citizenship, foreigners must invest $500,000 in the country's economy, buy real estate worth $250,000, or create jobs for 50 people or more.
Under the new rules, the minimum investment threshold for obtaining citizenship has been lowered: instead of the previous $1 million limit, real estate worth $250,000 can now be purchased, the investment limit has been reduced from $2 million to $500,000, and job creation requirements have been lowered to at least 50 people, compared with the previous requirement of 100 jobs.
Interior Minister Soylu added that after submitting an application for citizenship through the special offices across Turkey, investors will be able to obtain Turkish citizenship within 45 days.
