Shafaq News/Turkish lawyer Khalil Arslan revealed that more than 20 thousand investors have benefited from the opportunities to obtain Turkish citizenship through investment, warning that some have taken illegal routes in this regard.

In an interview with Anadolu Agency, the lawyer specializing in managing Arab investors ’transactions said:“ So far, more than 20 thousand investors have benefited from the Turkish citizenship through investment opportunities … Some of these investors have obtained citizenship as individuals, and some of them obtained it with their families, including children and wives. ” He explained that he obtained this information during his recent participation in a meeting with officials of the ministries concerned with the process of obtaining citizenship through investment.

Arslan revealed that “the citizens of Iraq, Iran and Syria are among the most nationalities that have obtained Turkish citizenship through investment, whether through buying a property or a dollar deposit in banks. “

And he cautioned that committing “any mistake, during this stage, its results will appear later, even if after a year or 20 years. That is why we adhere to all laws in this regard, and we seek to clarify the correct legal procedures for investors,” indicating that “the period of obtaining citizenship through investment, Since submitting the application, it ranges between 3.5 months and a maximum of 5 months.

In response to a question about whether there are obstacles to obtaining citizenship through investment, Arslan explained that the current laws that regulate these matters “are smooth, but we get into problems when some people take illegal routes.”

He added, “We refuse to deal with any requests whose owners have taken illegal routes. This will lead to a state of concern for the investor for the future, and we always recommend resorting to the correct methods.”

According to Turkish laws, every foreigner who bought a property or several properties worth 250 thousand dollars, or placed a deposit in Turkish banks of 500 thousand dollars, can apply for Turkish citizenship, provided not to dispose of that real estate or the deposit for a period of 3 years.

This year, Turkey’s economy shrink as it suffers from the currency dropping, as it has lost a quarter of its value against the U.S. dollar.

Economists have repeatedly called for Turkey to raise interest rates to compensate for inflation that erodes profits from holding Turkish bonds and stocks and to keep the currency from depreciating further. Instead, Turkey slashed interest rates for much of the year and increased credit to households and businesses.

Source: Anadolu + Shafaq News Agency