Imtilak Properties
17-02-2017

Deputy chairman of the Justice and Development Party (AK) in Turkey "Yasin Aktay" said in an interview with Al-Hayat newspaper that the Turkish authorities are considering a permanent residence permit or a visa grant for a segment of Saudis, as an alternative to the new incentives issued by Turkey to stimulate investors which Saudis cannot take advantage of, like granting the Turkish citizenship to those who buy a property worth a million dollars.

This move came after many claims of Saudi investors of issuing items essential for them, like a permanent residence permit grant, or a long-term visa, instead of obtaining the Turkish citizenship after buying a property worth a million dollars, as the Kingdom of Saudi Arabia prohibits dual citizenship.

The Turkish government has revealed last month that the new decisions stimulate the investment in Turkey, like granting citizenship for foreigners who own properties worth at least $ 1 million in Turkey, or the owners of investment with fixed capital $2 million or more.