New Law for getting Turkish citizenship

Turkey’s parliament in Ankara approved a new law with specifying conditions under which foreigners can get Turkish Citizenship within a few days.

Foreigner, who will do the investment of 1 million dollars in Turkey will get Turkish Passport as soon as possible or they can transfer 3 million dollars to any Turkish bank and without withdrawing it for 3 years will have the same right.

This new Law was presented by Turkey's Central Bank, Turkey's Central Bank has decided to open Foreign Exchange Deposits against Turkish Lira Deposits market to increase flexibility and instrument diversity of the Turkish lira and foreign exchange liquidity management.

Turkish central bank's recent decision is the last one of a series of measures taken to handle the country's local currency volatility against foreign currencies.

Last week, the bank lowered the borrowing limits of banks to a total of 11 billion Turkish liras (approx. $2.9 billion) in the Interbank Money Market, to support the value of the Turkish lira.

Turkish parliament in Ankara also reduces the term of getting permanent residence from 7 years to 5 years 

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Masihullah Ada (consultant)