AMENDMENTS OF THE REGULATION
ON IMPLEMENTATION OF TURKISH CITIZENSHIP LAW
The second paragraph of Article 20 of the Regulation on the Implementation of the
Turkish Citizenship Law, which was put into effect with the Council of Ministers Decision dated 11/2/2010 and numbered 2010/139, (a), (b), (c), (c), (d) Subparagraphs and (e) and the seventh paragraph have been amended as follows, and the following paragraphs have been added after the eighth paragraph.
“a) Those determined by the Ministry of Industry and Technology to have made a fixed capital
investment of at least 500,000 USD or equivalent in foreign currency.
b) Purchased real estate worth at least 250.000 USD or equivalent in foreign currency, provided that an annotation is placed in the land registry that it will not be sold for three years, or a condominium or floor servitude has been established, at least 250.000 USD or equivalent foreign currency deposited in advance and transferred to the land registry for a period of three years. It is determined by the Ministry of Environment, Urbanization and Climate Change that the sale of the immovable is promised with a contract drawn up in a notary public, provided that the commitment not to be abandoned is made.
c) Determination by the Ministry of Labor and Social Security that it employs at least 50 people
d) Banking Regulation and Supervision, which is deposited in banks operating in Turkey, on the
condition of keeping at least 500,000 USD or equivalent foreign currency deposits for three years.
identified by the institution.
e) Government borrowing of at least 500,000 USD or equivalent in foreign currency
determined by the Ministry of Treasury and Finance, which he purchased on the condition of keeping his vehicles for three years.
f) It has been determined by the Capital Markets Board that it has purchased real estate
investment fund participation shares or venture capital investment fund participation shares of at least 500,000 USD or equivalent foreign currency, on the condition of holding it for at least three years.
“(7) A commission consisting of representatives of the Ministry of Labor and Social Security, the Ministry of Environment, Urbanization and Climate Change, the Ministry of Treasury and Finance, and the Ministry of Industry and Technology may be established within the Ministry of Interior in order to follow the process regarding the citizenship applications to be made within the scope of the second paragraph.”
“(9) The procedures and principles to be applied in determining whether the investment conditions within the scope and amount specified in the second paragraph are met are determined by the institution making the determination.
(10) The foreign currency amounts specified in subparagraphs (b), (c), (d) and (e) of the second
paragraph are sold to a bank operating in Turkey and to the Central Bank by this bank before the transaction. Sales result; Turkish Lira amounts obtained pursuant to subparagraph (ç) of the second paragraph shall be kept in Turkish Lira deposits, and the Turkish Lira amounts obtained pursuant to subparagraph (d) of the second paragraph shall be kept in Turkish Lira State debt instruments for a period of three years. The principles of practice regarding this issue are determined by the Central Bank of the Republic of Turkey.
This Regulation enters into force on the date of its publication.
The provisions of this Regulation are executed by the President.