Development Minister Lütfi Elvan said the Interior Ministry is working on a two-phase transition plan for granting citizenship to foreign investors. Accordingly, foreign investors will first be given permission to stay in Turkey and then granted citizenship on the condition that they do not create problems. Citizenship will be granted to foreign investors who make a certain investment amount in Turkey.
The minimum investment amount to allow a foreign investor to gain Turkish citizenship will be determined by Cabinet decision. According to Elvan, the regulation, which was delayed because of the July 15 coup attempt, will soon be launched.
The regulation will concern investors who buy houses and those who establish factories or become partners with other investors in Turkey. The practice, which is also in place in many countries, aims to encourage foreign investors to invest in Turkey.
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