(Eqtsad)- Syrian investors to be granted the Turkish citizenship very soon since the authorities have issued new adjustments in the laws make the red passport easy to get for men with cash bags and not just Syrians only, experts said.
Turkish authorities had legislated granting Turkish citizenship to foreigners in the event they bought a property worth one million US Dollars, if they invest no less than two million US Dollars in Turkey, or if they deposit a sum of three million US Dollars in Turkish banks.
Gazwan Qaranful, the President of the Free Syrian Lawyers Association, clarified that the recent adjustments do not conflict with the Turkish decision prohibiting Syrian nationals from owning property in Turkey. He explained, “A Syrian investor may establish a company, and then formally register a property in the company’s name, and then later confirm his ownership of the property gaining the right to apply for Turkish citizenship.”
Speaking to Eqtsad, Qaranful indicated that some Syrian investors were granted Turkish citizenship prior to the recent adjustments in the law. They were able to apply for citizenship after establishing their companies for five years, “During this time they held work permits.”
Aabu al-Hasu, a Syrian journalist focused on Turkish affairs, clarified that Turkish law prevents Syrians from owning property, but does not prevent them from establishing contributing companies. He pointed out the ease of starting a company, “The cost of establishing a company in Turkey is an estimated 5,000 Turkish Lira, and it is a small sum when compared with the value of the property that they must own based on the adjustments to legislation.”
Regarding the Turkish law preventing Syrian nationals from buying properties in the border regions, al-Hasu confirmed that the security clearances granted by Turkish Ministry of Defense do not exclude this condition.
Al-Hasu believes that the new adjustments will attract Syrian investors from Egypt, Jordan or the Gulf States as well as Syrian investors living in European states.
Tamam Barodi, the deputy head of the Syrian Economic Initiative, said that the recent adjustments apply to all foreigners without distinguishing between nationalities. However, he commented that Syrian nationals do not need these decisions as Turkish citizenship is available to Syrian nationals with less stringent conditions. He said, “The Turkish decision targets Arab capital from the Gulf States and Egypt.” (Reporting by Mutafa Mohamed)
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