Imtilak Properties

Mr. Lütfi Elvan, the Turkish Minister of Development, said that the Turkish Council of Ministers would issue a decision concerning the law of granting Turkish citizenship to the foreign investors. ‘’Granting Turkish citizenship to the foreign investors will go through two phases:

in the first phase, residence will be granted to the foreign investors, and in the second phase, the Turkish citizenship will be granted to the person of the good qualities,’’ Elvan said. He also stressed that the Turkish Ministry of Interior following up the case carefully. Then Elvan added that they have not made a final decision about the minimum investment to grant the Turkish citizenship yet.

Elvan stated that they were thinking about issuing the law at the earliest, but it is delayed because of the preoccupation with the military coup the country witnessed on 15/July/2016, asserting that they would issue the decision as soon as possible. Elvan added that this law will not only be limited to investors who only buy and own properties, but also will include the investors in other sectors such as establishing factories and other various investments in the country. By this law, Mr. Lütfi cleared, they aim to attract the foreign investors to Turkey, such as the countries which depend on such laws.

Elvan declared ‘’the Qatari investors are in constant question, what can we do in Turkey? What are the sectors that we can invest in? What are the sectors that we can achieve profits in? They need help and guidance in these queries, and we, as the Turkish government, possess the sufficient information about all sectors and regions that they have to invest in, and if necessary, we may investigate for the appropriate investments in each region and inform the investors about. Yet at the same time, we expect from them to tell us about the type of investments they want to achieve in the World Cup in Qatar in 2022 and Qatar's vision to 2030 as we are interested in that, and we also want to have access to on the Qatari companies to achieve a rapprochement between our companies and the Qatari ones in order to establish cooperation and joint work, so that we can put a roadmap that can help the companies of both parties."