A $1m investment can now earn you citizenship in Turkey- new regulations

Do you want to acquire Turkish citizenship without having to hassle over illegal entry? Now you can only if you can dig deep into your pockets and invest a million dollars in property but on condition that you don’t sell it for three years.

In the amended version of the Implementing Regulation of the Turkish Citizenship Act published Sunday, the Turkish government set out new conditions for acquiring citizen for foreigners. One can opt to make a $ 2 million fixed investment or choose to deposit $ 3 million in banks operating in Turkey for a period of three years. The $ million deposit can also be borrowed to the government instruments for three years.

Alternatively, foreigners can also invest $ 2 million in fixed capital in exchange for citizenship.

The amendment in the citizenship regulations also seeks to reward foreigners who have employed at least 100 people with citizenship.

Initially, foreigners could acquire citizenship in Turkey if they had lived in the country for a least five years with an interruption of less than six months. However those who are married to a Turkish national have their minimum time spent in Turkey to three years.

Other countries which allow direct citizenship by investment include Antigua and Barbuda, Grenada, Malta, the Netherlands and Spain.