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ACQUISITION OF TURKISH CITIZENSHIP THROUGH GOVERNMENT BONDS
Foreign investors can apply for Turkish citizenship by purchasing a government debt instrument at least 500,000 USD (US Dollars) or a different foreign currency or Turkish lira equivalent, provided that they hold for a minimum of three (3) years. It is possible to invest in government debt instruments with nine different methods. Government bond is one of these debt instruments.
The debt securities issued by the government to provide periodical financing, with a maturity of 1 year or longer from the date of issue, are called Government Bonds and are issued by the Treasury through the Central Bank and can be invested through banks.
If the sum of government bonds and other debt instruments and investments made through one or more banks established in Turkey and/or in different time periods provide 500,000 USD or an equivalent foreign currency exchange rate, they can be subject to citizenship applications by placing a three-year blockage commitment. In addition, the fact that government bonds or other debt instruments were purchased before the relevant Legislation is issued will not be an obstacle to citizenship transactions. However, the period from the investment date is not included in the commitment period.
In the calculation process, the effective selling rate of the CBRT on the date of the transaction is taken into account for each of the government bonds purchased on different dates. If 500,000 USD or an equivalent exchange rate is provided as a result of the calculation, then citizenship procedures can be applied with a 3-year commitment to each transaction. Changes in exchange rates after the purchase date will not affect the investment amount.
In addition, the blockage placed on the last investment in gradual investments is considered as the beginning of the commitment period.
Files of investors who purchased 500,000 USD worth of government bonds and applied for a 3-year block are transferred to through banks it is sent to the Ministry of Treasury and Finance to obtain a certificate of conformity. Investors who have been given a certificate of conformity can make official applications to acquire citizenship.
There is no need to wait for a 3-year blockage period in order to apply for citizenship. After receiving the certificate of conformity, the application is made and even finalized. If the foreigner who is entitled to Turkish citizenship removes the blockage before the expiry of the commitment period, the situation is reported to the relevant ministry by the banks and the citizenship of the person is cancelled.
The 3-year commitment period does not prevent the investor from the gains of his investment. During this period, the investor is entitled and can use his rental interest etc. The blocking only restricts the use of the capital.
In addition, it is possible to switch between investment types during the 3-year period. This transition is accepted both in terms of government debt instruments and other investment methods. In this case, the date on which the blockage was first placed was determined as the exchange rate values to be taken into account. The total blockage period for investments must be at least 3 years.
