The Turkish Cabinet has decided to raise the minimum investment requirements for Turkey’s citizenship by investment program.
With the regulations now published in the official gazette, the minimum investment amount for the program’s property acquisition pathway has been increased from $250,000 to $400,000 (or its equivalent in other foreign currencies.)
Investors must pay the investment amount in a lump sum and refrain from reselling the property for three years.
The regulations also allow for foreign nationals to invest in the Turkish private pension system, on the condition that they remain in the system for three years. The minimum investment amount for this pathway is set at $500,000.
Application steps and procedure will not change.
“The investment limit requirement sought for foreign investors has been increased financially, but not in a way that will affect the application process,” says Mustafa Aksaraylı, founding attorney at Istanbul-based law firm Miran Legal.
The amendments will become effective on June 13, 2022. Applications submitted prior to that date will not be subject to the price increase.
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