Turkey Attracts $15 Billion from Citizenship by Investment Program

Turkey’s Citizenship by Investment (CIP) program has attracted 40,000 applications and generated $15 billion in investments, according to former Interior Minister Süleyman Soylu.

However, the program has faced scrutiny over security concerns following allegations that leaders of international criminal organizations obtained Turkish citizenship.

Soylu strongly refuted these claims, stating that “the claim that drug lords were granted citizenship is a great slander” against both him and the Republic of Turkey. He asserted that Turkish law prohibits granting citizenship to individuals with criminal records, ongoing investigations, or Interpol red notices.

According to Soylu, the CIP program has a rigorous vetting process, including investigations of applicants in their home countries. He also mentioned implementing additional security measures such as integrating red notice warnings into the screening system and updating border control checkpoints with photos of known international criminal organization members.

However, he did not elaborate on the mechanism for “automatically revoking” citizenship for individuals found to be involved in criminal activities while ensuring due process.

Soylu also emphasized the distinction between residency permits and citizenship, suggesting that many media reports often confuse the two concepts. He affirmed that the CIP program “is correct” and positively contributes to Turkey’s economy by attracting foreign direct investment (FDI) and creating jobs.