'Turquoise Card' regulation offering citizenship to foreign investors published

Turkey's Labor and Social Security Ministry has recently published details regarding the "Turquoise Card," a scheme that would allow foreigners the right to work and reside indefinitely in Turkey. The details, recently published on the Official Gazette, revealed that Turquoise card holders' transactions regarding matters such as residence, travel, investment, commercial activity, inheritance, acquisition and alienation of movable and immovable properties in Turkey will be carried out in accordance with legislations currently applied to Turkish citizens.

The card holders and their relatives can earn Turkish citizenship, should they be offered it by the Ministry, on the condition that the registration of the transition period is lifted.

The Turquoise Card would to be granted to foreigners:

a) who are regarded as part of the highly qualified labor force in terms of education level, wage, professional knowledge and experience, and their contribution to science and technology and so forth,

b) who are considered highly qualified investors by their investment or export level, the size of the employment they provide, their contribution to scientific and technological development, and so forth,

c) who are scientists or researchers that contribute to scientific and technological development or who conduct studies and researches accepted strategically in the field of science, industry and technology in terms of the country's interests at the international level,

d) who are internationally successful in terms of cultural, artistic or sports activities,

e) who contribute to Turkey's international recognition or promotion or Turkish culture and who operate internationally in matters concerning Turkey's national interests.

Turquoise Card is a practice that gives privileged citizenship rights and indefinite work permit to foreigners who would buy a house or make investments in Turkey and would also give residence permits to their spouses and dependent children.