Over 250 people apply for Turkish citizenship after investment requirements eased

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PHOTO: Nomad Capitalist website.

More than 250 people have applied for Turkish citizenship since parliament passed a regulation in September easing requirements for citizenship acquisition, the state-run Anadolu news agency reported on Wednesday.

Akın Atalay, CEO of VIPTurkishPass, which provides assistance to applicants with the paperwork necessary to apply for Turkish citizenship, told Anadolu that the majority of the demand comes from Arab countries, the Turkic countries and Iran.

The regulation passed on Sept. 19 foresees granting Turkish citizenship to foreigners who invest at least $500,000 in Turkey or who buy real estate valued at a minimum of $250,000. The limits were previously $2 million and $1 million, respectively.

According to Atalay, $100 million in foreign investment has flowed to the country as a result of the new regulation.

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