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19 Sep

By Admin Citizenship

Turkey lowers requirements for citizenship by investment

The amount of dollars or other foreign currency needed as one of the criteria to become a Turkish citizen were sharply reduced, according to revised regulations published in the Official Gazette on Wednesday.The size of bank deposits was cut from $3m to $500,000 and the amount of required fixed capital investment was reduced to $500,000 from $2m, the decision said.

Two other options for receiving a passport by investment were also eased. The applicant could qualify by employing 50 Turkish citizens, down from 100, or by investing $250,000 in the real estate market, half the previously required amount.