The regulation, which envisages changes in the Regulation regarding Implementation of the Turkish Citizenship Code, is being published in today’s issue of the Turkish Official Gazette.
According to the regulation, foreigners determined by the Insurance and Private Pensions Regulation and Supervision Agency (SEDDK) to have deposited at least $500,000 or equivalent in foreign currency into the Turkish Private Pension System (PPS) will be entitled to Turkish citizenship, provided that they keep their contribution in the funds determined by the SEDDK and remain in the system for at least 3 years.
With this system Turkey has started retirement+citizenship model for foreigners who want to get citizenship in Turkey. The investor, his/her spouse and minor children (who have not yet fulfilled the age of 18) can be able to get citizenship through this model.
This has to be noted that the foreigners who obtain a citizenship via PPS shall be eligible to public healthcare provision as well, through the General Health Insurance applied in Turkey by the Social Security Authority. Yet, for being a public pentioner fulfilling the minimum working days and paying social insurance premiums is still a necessity.
So the rights of the foreigner will be:
– Investment to PPS
– Obtaining passport alongside with the family
– Enjoying General Health Insurance benefits
– Being public pensioner, within the condition of fulfilling the minimum premium payment requirements.
Citizenship limit with immovable is 400 thousand dollars
In addition, with the regulation, in line with the annoucment made in a couple of weeks earlier, the monetary limit was increased to $400,000 or equivalent foreign currency in the practice of acquiring Turkish citizenship through the acquisition of real estate. Thus, the limit for citizenship has increased from $250,000 with an increase of $150,000.
However, the application will come into effect after 1 month.
