Turkey tightens foreign citizenship investment from June

ANKARA, 22 May 2022, (TON): A price hike for foreigners seeking citizenship through real estate investment is the latest attempt by the Turkish government to ease the country’s financial woes.

The move is estimated to help Turkey overcome its current account deficit and change the profile of foreign investors.

A popular advertisement reads “only up to June 3 you can apply for Turkish citizenship by investing $250,000. Obtain a Turkish passport and citizenship in the most prestigious projects in Istanbul.”

Amid widespread criticism of skyrocketing house prices in the country, which has hit Turkish nationals the most, the government recently raised the amount that foreigners must invest in property in order to become eligible for citizenship.

Amid widespread criticism of skyrocketing house prices in the country, which has hit Turkish nationals the most, the government recently raised the amount that foreigners must invest in property in order to become eligible for citizenship.

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