29946 dated January 12, 2017 and published in the Official Gazette Yönetmelik Regulation on the Implementation of the Regulation on the Implementation of the Turkish Citizenship Law ”with the amount of USD 2 million fixed capital investment made by the Ministry of Economy and the decision of the Council of Ministers on the proposal of citizenship decision has been taken under. Citizenship applications of foreign natural persons in accordance with the said Regulation shall be evaluated within the framework of the following procedures and principles.

This has been reduced to $ 500,000 since 19.09.2018.

A) Application and Evaluation Process

1. Foreign natural persons who will apply for citizenship on the basis of USD 500,000 fixed capital investment shall submit a written application to the Ministry of Economy with the following documents.

A. In the annex of the application petition signed by the applicant;

a. Completely filled investment information form
b. Photocopy of the pages of the passport containing identification information
c. Registration of the trade registry newspaper showing the shareholding structure and the capital amount of the legal entity that makes the fixed capital investment which constitutes the basis of the application
D. YMM approved special purpose report showing fixed capital amount (The report will include the determinations related to fixed capital investments made after the publication date of the regulation. Fixed capital investments made in maximum 3 years before the application date will be taken into consideration in the report for the applications to be made in the following years)
to. Determination of the transfer of foreign direct investment amounting to USD 500,000 to the Company’s equity in the same CPA Report and submission of the relevant foreign currency deposit account receipt

2. The application shall be submitted to the approval of the Ministry Authority in case it is determined that it meets the necessary requirements by the General Directorate of Incentive Implementation and Foreign Investment of the Ministry of Economy. Applications that do not meet the required conditions are rejected by the General Directorate of Incentive Implementation and Foreign Investment. For applications made with missing information and documents, applications that fail to complete the missing information and documents within 1 month following the written notification date to be made to the applicant are removed from the process without any further processing.

3. The applications deemed appropriate by the Ministry Authority shall be sent to the Ministry of Interior in order to carry out the necessary procedures.

B. Remarks

a. In case the foreign investor is a certain shareholder of the investor; the amount to be generated as a result of multiplying the share of the person to the investor by the total investment amount must be at least USD 500,000.
b. The date of 19.09.2018, when the regulation was issued, shall be taken into consideration in determining the fixed capital investment amounts. Fixed capital investments made before this date will not entitle citizenship application.
c. In the calculation of fixed capital expenditures for applications to be made in the following years, a maximum of 3 years of retrospective expenditure shall be taken into consideration.
D. If an additional fixed capital investment is made to an existing investment, the increase in the amount of fixed capital investment shall be taken into consideration as of the date of the additional investment.
to. The process of citizenship proceedings of the applicants identified by the administration to which they have applied with a false and misleading document shall be stopped, and the Ministry of Interior shall be notified in order to deprive citizenship of citizenship. False and misleading documents will not be taken into consideration even if the applications made by the applicants with a misleading document meet the relevant criteria at a later date.

Source: www.ekonomi.gov.tr