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 firstname.lastname@example.org.
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.