Ankara to Grant Expedited Citizenship to Investors - Turkish Deputy PM

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Turkey plans to implement procedure to grant expedited citizenship to foreigners investing in the country, Deputy Prime Minister Numan Kurtulmus said on Monday.

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ANKARA (Sputnik) — The move is aimed to give impetus to the foreign capital and investment flow to Turkey in order to boost the national economy. Kurtulmus specified that more details on the program would be released soon.

“One of the issues on our immediate agenda is developing procedure to grant expedited citizenship to investors who make fixed investments and those people who buy expensive real estate and retain it for at least three years. Besides, foreigners who create jobs, as well as people who have certain amount of money on deposit in Turkish banks for a period of at least three years will also be eligible under this program,” the Turkish deputy prime minister said at a press conference in Ankara.

Earlier on Monday, Turkish Deputy Prime Minister responsible for economic affairs Nurettin Canikli announced Turkey would be lifting the legislative obstacles against interest-free banking products in order to attract worldwide investors. According to Canikli, Turkey particularly aims to attract investors from Muslim countries and to increase its share of global Islamic finance to 15 percent from the current position of 4.7 percent.

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