Turkey ups property threshold for foreigners eyeing citizenship

Turkey ups property threshold for foreigners eyeing citizenship

Turkey raised the amount foreigners must invest in property to become eligible for citizenship, according to Resmi Gazete.

Foreign nationals can become Turkish citizens provided they purchase real estate worth at least $400,000, according to a regulatory change published in official gazette on Friday. Previously, the threshold was $250,000. The money must be deposited in a Turkish bank, which will then sell it to the central bank in exchange for liras. 

The change will apply from June 13, Bloomberg reported.  

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