Government Announce Cuts to Turkish citizenship by Investment Rates

The Turkish government have lessened their citizenship by investment scheme; according to the new requirements, candidates are now required to have only USD $500,000 in the bank and a further USD $500,000 ready for local capital ventures, following the administrations lowering of boundaries due to the nation's cashflow crisis.

Under the previous requirements, residents were obliged to prove a balance of a minimum of USD $3 million in the bank and make an investment within the country totalling USD $2 million. Different ways to gain citizenship include employing staff members, purchasing land or property have also had their figures reduced accordingly.

Read more about the Cyprus Citizenship by investment programme here.