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04 Feb, 2025

Please kindly find below a brief memo issued by our law firm regarding obtaining Turkish Ci zenship
through investment.

According to the decision published in the Official Gaze e, the relevant regula on is amended in
order to support the Turkish Lira. Pursuant to the new regula on; the minimum amount of US Dollars
required to obtain ci zenship is defined as “Dollars’ equivalent amount of currency”.

I) The Amendment of condi ons for obtaining Turkish Ci zenship through Investment
The new condi ons required for obtaining Turkish ci zenship are listed as follows:

• It is determined by the Ministry of Industry and Technology that a fixed capital investment of
at least USD 500,000.00 or its equivalent amount of currency is made.

• It is determined by the Ministry of Environment, Urbaniza on and Climate Change that the
real estate worth in the amount of USD 400,000.00 (at least) or its equivalent amount of
currency is purchased and an annota on is a ached to the tle deed registry record in the
land registry records that the subject real estate will not be sold for 3 years. It is determined
by the Ministry of Environment, Urbaniza on, and climate change that a preliminary sale
contract of real estate with a condominium regime or construc on servitude has been
established at the public notary, on the condi on of holding same for at least 3 years.

• It is determined by the Ministry of Labor and Social Security that employment for at least 50
people has been created.

• It is determined by the banking regulatory and supervisory agency that at least USD
500,000.00 or its equivalent amount of currency is deposited to banks opera ng in Turkey.

The depositor shall not withdraw the blocked amount from the bank for the 3 years

• It is determined by the Ministry of Treasury and Finance that it has purchased government
debt instruments worth at least USD 500,000.00 and its equivalent amount of currency, on
the condi on of keeping them for 3 years.

• It is determined by the Capital Markets Board that it has purchased “real estate investment
fund par cipa on shares” and “venture capital investment fund par cipa on shares” in the
amount of at least USD 500,000.00 or its equivalent amount of currency, on the condi on
of holding the same for at least 3 years.

II) Establishment of a Commission within the Ministry for Internal Affairs
• A commission consis ng of representa ves of the Ministry of Labor and Social Security,
Ministry of Environment, Urbaniza on and Climate Change, Ministry of Treasury and Finance,
Industry and Technology can be established within the Ministry of Interior in order to
monitor the process regarding Turkish ci zenship applica ons.

III) Holding Incomes in Turkish Lira Deposit Account:
• The foreign currency amounts specified by the Ministry of Environment, Urbaniza on, and
Climate Change, the Banking Regula on and Supervision Agency, the Ministry of Treasury and
Finance, and the Capital Markets Board will be sold to a bank opera ng in Turkey and to the
Central Bank by this bank before the transac on.

• The Turkish Lira amounts obtained by the Banking Regula on and Supervision Agency as a
result of the sale will be kept in the Turkish Lira deposit account, and the Turkish Lira amounts
obtained by the Ministry of Treasury and Finance will be kept in government debt
instruments for 3 years.

• The Central Bank will determine the prac ces and principles regarding the subject.
To summarize, the amount of foreign currency for the purchase of real estate (at least USD
400,000.00) shall be sold to the Central Bank through a Turkish bank and converted into TL. The
amount required to be kept in the bank for investment (at least USD 500,000.00) shall be converted
into Turkish Lira.

Please note that in order to obtain ci zenship through investment, other addi onal documents may
be required.
Please do not hesitate to contact us with any ques ons regarding the subject

Esenyel Partners | Obtaining Turkish Citizenship
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