Turkey has lower down the investment required for investors to obtain the Turkish Citizenship, as per the revised rules published in the Official Gazette today.
It lowered significantly the investment amount of bank deposits, fixed capital investments, Turkish bond holdings or property ownership any one of which required to obtain Turkish Citizenship.
The amount is reduced to $500,000 from $2 million for fixed capital investment and $500,000 from $3 million for the bank deposits. The citizenship by investment in property is reduced to $250,000 for three years from $1 million and $3 million for Turkish debt for 3 years reduced to $500,000.
Turkey also reduced the number of employees to employ to gain citizenship, from 100 to 50 employees.
The initiatives are taken by the government to boost the Turkey economy and to strengthen the lira, which is not in a good condition this year.
The government is taking measures to boost investment in Turkey’s economy and strengthen the lira, which has fallen 40 percent so far this year.