There has been much talk in recent days about amendments to the Exceptional Turkish Citizenship Law and the mechanisms for obtaining them, which has raised concerns among many investors and entrepreneurs wishing to invest in Turkey or obtain Turkish citizenship.
By fact-finding, we can assure all those aspiring to reside or invest in Turkey that the new amendments are not concerned about them, but are in their interest and that of the Turkish state as well.
In 2018, the Turkish state introduced laws to obtain Turkish exceptional citizenship by purchasing a property worth more than US$400,000, but only on condition that the property was not sold three years before the date of purchase. She also acknowledged that exceptional Turkish citizenship could be obtained by depositing US$500,000 in a Turkish bank.
However, in the new amendments, the buyer, investor or person who will make the purchase or deposit must sell these amounts to the Central Bank of Turkey through one of the active banks in the country. This is a strategic decision as the state seeks through this decision to accumulate as much of the U.S. dollar as possible in the central bank and thus increase the monetary cover in banks of foreign currencies, which helps to improve the economy and raise the price of the Turkish lira against foreign currencies. The Turkish lira suffered a sharp collapse during the past period against the US dollar and other foreign currencies as a result of decisions to lower the interest rate in Turkey, which reached 14%, which made a lot of hot money leave the banks and citizens lost confidence in the local currency. These factors combined and caused the collapse of the Turkish lira.
The Turkish state and Turkish President Recep Tayyip Erdogan have tried to overcome these obstacles by developing a package of economic decisions that will help citizens restore confidence in the currency and put their savings from the US dollar and other foreign currencies as well as gold and silver in central banks. These decisions resulted in a unique situation in the economy that was admired by all economists worldwide, where the Turks pumped large amounts of foreign currency into banks, which made the value of the U.S. dollar against the Turkish lira fall from 18 lira per dollar to 10 lira per dollar in a day, which was a historic event in the history of the Turkish economy and even the world economy in general.
Going back to talking about Turkish citizenship, the Turkish state is one of the easiest countries in its citizenship procedures where Turkish citizenship can be obtained through some procedures, some of which may seem very simple, and we will mention four of these measures that may be easy for aspirants to obtain Turkish citizenship.
1- Buy a property worth US$400,000 and not sell it for three years.
2- Deposit 500,000 U.S. dollars in Turkish banks.
3- Establishing a company that employs more than 50 Turkish workers.
4- Working in the Turkish State by establishing a five-year employment.
Turkish citizenship is one of the strongest nationalities in the world, allowing its holder access to 110 countries around the world without the need for a visa.
When you acquire Turkish citizenship you can enjoy many of the advantages enjoyed by the Turkish citizen in the Turkish country and we will now mention some of these advantages
1- Enjoying the full rights of Turkish citizens such as free health insurance, free education in universities and running for election.
2- Ensuring Turkish citizenship for children under the age of 18 and wife.
3- Ease of the procedures of establishing companies, investing, reducing taxes and many other advantages.
Obtaining Turkish citizenship through real estate ownership is one of the easiest and surest ways in the period of confusion and is resorted to by many who want to settle or invest in Turkey, which is considered one of the best countries in living and stability in the recent period due to the low cost of living compared to the rest of the countries, especially the Arab countries, which made it a strategic choice for expatriates in the Gulf countries in particular.
Iltizam Real Estate is one of the most powerful real estate companies in Turkey in the field of real estate investment and has more than 500 projects in many provinces in Turkey. There are many models suitable for all tastes where you can choose the best property for you and your family. We have a large number of experienced real estate consultants in the Turkish real estate market for seven years where the advisory team responds to all your inquiries and nominates the property that is best suited to you and your family through the information you provide them.
Iltizam Real Estate guarantees you the best service in the field of real estate in Turkey