1. Related
legislation
With the
Decision of the Council of Ministers numbered 2010/139, some amendments were
made in the Regulation on the Implementation of the Turkish Citizenship Law
(TVKUİY), and concrete regulations were made regarding the quality, content and
amount of the investments that foreigners who would invest in our country to
gain citizenship rights in exceptional ways.
It was
stated that, according to the amendment that was published by the Official
Gazette dated January 12, 2017, foreign investors who were determined by the
Ministry of Economy, which had made a fixed capital investment of at least
2,000,000 US Dollars (Mülga), could be gained Turkish citizenship.
With the
amendment made on September 19, 2018, the amount of 2.000.000 USD was revised
as a fixed capital figure of 500.000 USD or equivalent foreign currency or
Turkish Lira and the authority given to the Ministry of Economy was transferred
to the Ministry of Industry and Technology.
Therefore,
it has been decided that Turkish citizenship can be granted by the Ministry of
Interior's proposal and the President's Decision to foreign nationals who have
been determined by the Ministry of Industry and Technology, where the amount of
500,000 USD or equivalent foreign currency or Turkish Lira is invested in fixed
capital.
2. Form
and Content of Fixed Capital Investment to be Made
Fixed
capital investment to be made by the foreign investor should consist of
investment types such as land, building, machinery and equipment for the
production of goods and services. This investment may be in the form of an
investment from new and greenfield or it can be made in the form of
acquisition of shares of an existing company (Mergers and Acquisitions -
M&A).
In case the foreign investor purchases a company that is not open to the public completely
or becomes a shareholder; The amount corresponding to the share of the
partnership purchased by the foreign investor must be at least 500.000 USD or
equivalent foreign currency or equivalent Turkish Lira. In these cases, the
company valuation report may be requested from the authorized institutions
regarding the determination of the market value of the company purchased / owned
from the applicant.
In case of
an additional fixed capital investment to an existing investment, the increase
in the amount of fixed capital investment and the partnership share of the
foreign investor to the company will be taken into consideration. In other
words, in case the foreign investor has a certain shareholding in the company
that makes the investment; The amount that will occur as a result of
multiplying the ratio corresponding to the partnership share of the person
investing in the company with the total additional investment amount must be at
least 500.000 USD or equivalent foreign currency or equivalent Turkish Lira.
3. Application
and Evaluation Process
The
procedures and principles that foreigners who want to gain Turkish citizenship should
follow in their citizenship applications are as follows:
a)
Foreigners who will request citizenship based on fixed capital
investment of 500,000 USD or equivalent foreign currency or Turkish Lira make a
written application to the Ministry of Industry and Technology to obtain a
Certificate of Conformity.
b)
In this application petition and its annex; information form regarding
the relevant fixed capital investment, certified public accountant (CPA) approved
special purpose report showing the fixed capital amount and other required
documents should be included.
c) The
report, which must be prepared by certified public accountant (CPA), will
include fixed capital investments made in the last 3 years. While preparing
this report, 12 January 2017, the date when Regulation on the Implementation of
the Turkish Citizenship Law was published for the first time, should be taken
into consideration and the investment elements realized after this date should
be included. Fixed capital investments made before this date will not give rise
to citizenship applications.
d)
In case it is determined that the application meets the necessary
conditions by the Ministry of Industry and Technology General Directorate of Incentive
Practice and Foreign Capital, a “Certificate of Conformity” will be submitted
to the relevant General Directorates of the Ministry of Interior. If the
applications made with missing information and documents do not complete the
missing information and documents within 1 month following the written
notification date to the applicant, the applications are canceled.
4. Other
Statements
a)
By investing in fixed capital, not only the person who will invest
but also the spouse of the investor, the children who are not mature and
dependent may gain Turkish citizenship.
b) Those
who are entitled to receive citizenship by investing in fixed capital cannot
transfer their shares in the company to another real or legal person for at
least three years.
c)
Citizenship processes of the applicants who are found to have applied
with a false and misleading document are stopped. Situations in which citizens
who acquire citizenship transfer their fixed capital investment in less than
three years or the investment is below the minimum amount, are notified to the
Ministry of Interior. Applications made by the fake and misleading document
applicants at a later date are not considered even if they meet the relevant
requirements.
In order to
obtain Turkish citizenship right through fixed capital investment and to get
more detailed information about the consultancy services we will offer, you can
call directly on + 90 312 220 10 04 or contact us at paroje@paroje.com.tr.
Sincerely….
* While
preparing this document, the letter published on the corporate page of the
Ministry of Industry and Technology, General Directorate of Incentive Practice
and Foreign Capital was used.
