As well as those who came to produce and trade, the number of those who deserve Turkish citizenship by buying houses or workplaces reached 2 thousand 611 people.
Investors who do not withdraw their investment or deposits from banks for 3 years or who do not commit to sell the real estate purchased for 3 years are given the right to become a Turkish citizen for life. While the housing sector revived with the investments; last year, 4.8 billion dollars in sales of housing sales to foreigners, the sector is expected to close the year with sales of $10 billion.
Among the foreign investors who are Turkish citizens, Iraqis are the leader. Foreign investors from many countries from the USA to Russia, from Canada to the Dominican Republic, from Brazil to the Union of Comoros also benefited from this right. Investments and real estate purchases increased after the reduction of the investment and purchase costs required to become a Turkish citizen. In the 8 months of the year, the sale of housing to foreigners increased by 50 percent compared to the same period of 2018 and reached 27 thousand 748. With the implementation of the changes, 2 thousand 611 foreign investors became Turkish citizens. The number of people who are Turkish citizens with their families has reached 9 thousand 962. In the period in question, the number of foreign investors applying for Turkish citizenship was 3 thousand 859, while the number of family members was 14 thousand 876. The interest of investors is not limited to the purchase of real estate. Investors are interested in many areas such as Technology companies, energy, health, and agriculture; he also wants to cooperate with Turkish businessmen on issues such as hospitals and fattening farms.
The Ministry of Interior responded to the citizenship application in 45 days if the documents were completed and the application was made with expert knowledge. The company official said that, “foreigners who passed to Turkish citizenship were not subject to bureaucratic obstacles and that they could benefit from the benefits such as tax reductions, insurance premium reductions, state support, and reductions, with equal rights like Turkish citizens at birth.”
Underlining that the conditions for becoming a Turkish citizen are much easier than other countries; “It is possible to become a citizen by investing 250 thousand dollars, there is no waiting period. The only condition is that the person holds the housing or the investment for three years.” he said.
Chief editor of Invest Guide Turkey. Graduated from the Business Administration programme on 2014 and works as a journalist in the field of Foreign Investments in Turkey for 5 years.