Thourgh Capital Investment
Turkish Citizenship Through Capital Investment

Published in the Official Gazette dated January 12, 2017 and numbered 29946 "Regulation Amending the Regulation on the Application of the Turkish Citizenship Law" It has been decided that citizens who are determined by the Ministry of Economy to realize fixed capital investment amounting to USD 2 million can be granted citizenship by the proposal of the Ministry of Interior and the Council of Ministers. Citizenship applications of foreign natural persons in accordance with the said Regulation shall be evaluated within the framework of the following procedures and principles.

A) Application and Evaluation Process
1. Foreign natural persons who will demand citizenship for a fixed capital investment of USD 2 million apply to the Ministry of Economy with the following documents.
A. In the annex of the application petition signed by the applicant;
a. Completely filled investment information form
b. Photocopy of the pages of the passport containing identification information
c. Registration of the trade registry newspaper showing the shareholding structure and the capital amount of the legal entity that makes the fixed capital investment which constitutes the basis of the application
d. YMM approved special purpose report showing fixed capital amount (The report will include the determinations related to the fixed capital investments made after the publication date of the regulation. Fixed capital investments made within the maximum 3 years before the application date will be taken into consideration in the report for the applications to be made in the following years)
e. In the same CPA Report, it was determined that the foreign direct investment amounting to USD 2 million was transferred to the company's capital and the relevant foreign currency deposit account receipt was submitted.

2. The application shall be submitted to the approval of the Ministry Authority in case it is determined that it meets the necessary requirements by the General Directorate of Incentive Implementation and Foreign Investment of the Ministry of Economy. Applications that do not meet the required conditions are rejected by the General Directorate of Incentive Implementation and Foreign Investment. For applications made with missing information and documents, applications that fail to complete the missing information and documents within 1 month following the written notification date to be applied to the applicant are removed from the process without any further processing.

3. Applications deemed appropriate by the Ministry Authority shall be sent to the Ministry of Interior in order to carry out the necessary procedures.

B) Explanations
a. In case the foreign investor is a certain shareholder of the investor; the amount to be generated as a result of multiplying the share of the person to the investor by the total investment amount must be at least USD 2 million.
b. For the determination of fixed capital investment amounts, the date of January 12, 2017, when the regulation was issued, shall be taken into consideration. Fixed capital investments made before this date will not entitle citizenship application.
c. In the calculation of fixed capital expenditures for applications to be made in the following years, a maximum of 3 years of retrospective expenditure shall be taken into consideration.
d. If an additional fixed capital investment is made to an existing investment, the increase in the amount of fixed capital investment shall be taken into consideration as of the date of the additional investment.
The process of citizenship procedures of the applicants identified by the administration to which they are applying with a false and misleading document shall be stopped, and the Ministry of Interior shall be notified for the deprivation of citizenship. False and misleading documents will not be taken into consideration even if the applications made by the applicants with a misleading document meet the relevant criteria at a later date.