OBTAINING TURKISH CITIZENSHIP BY DEPOSITING MONEY (TURKISH CITIZENSHIP BY BANK DEPOSIT)
Did you know that you can obtain Turkish citizenship while also keeping your investment protected? Turkish citizenship through a bank deposit is a special method of acquiring citizenship that allows the investor to apply for citizenship while keeping their capital in their own bank account, without transferring it to any institution. Under this method, the investor deposits a specified amount with a bank operating in Turkey and undertakes to keep that amount on deposit for three years, thereby gaining the right to apply for Turkish citizenship. In this way, both the investment is protected and the conditions required for the citizenship application are fulfilled. For those who wish to keep their investment liquid in particular, a bank deposit stands out as a low-risk, easily manageable option.
What Is Acquiring Turkish Citizenship Through Bank Deposit?
Turkish citizenship through a bank deposit is one of the investment methods whose legal basis is Article 12 of Law No. 5901 and Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law. Under the legislation, in brief, foreign nationals who deposit at least USD 500,000, or the equivalent in foreign currency or Turkish lira, with a bank operating in Turkey, and who undertake to keep that amount in the bank for 3 years, may apply for exceptional Turkish citizenship.
Who Can Apply?
Provided the conditions set out in the law are met, an application for citizenship through a bank deposit may be made by foreign natural persons. However, Turkish banks do not open bank accounts for citizens of certain countries. You may contact our office to obtain up-to-date information on which nationals are eligible to open a bank account.
In addition, the applicant’s:
- Spouse,
- Minor children,
- Children in need of care (disabled), even if over the age of 18,
may be included within the same citizenship application.
Application for Turkish Citizenship With No Nationality Restriction
One of the most important advantages of acquiring Turkish citizenship through a bank deposit is that there is no restriction based on nationality. Citizens of certain countries cannot apply for Turkish citizenship through real estate investment, because current legislation does not grant them the right to acquire immovable property in Turkey. For example, while Syrian nationals cannot benefit from the real estate investment model due to legal restrictions on property acquisition, they can apply for Turkish citizenship under the bank deposit method if they meet the conditions set out in the law. In this respect, the bank deposit method offers an accessible and flexible citizenship option that appeals to a wider range of investors.
How Does the Application Process Proceed?
- A deposit account is opened at a bank operating in Turkey in the name of the foreign national, and at least USD 500,000, or the equivalent in foreign currency or Turkish lira, is deposited into this account.
- After the account is opened, the investor signs the documents requested by the bank, such as the blockage instruction, undertaking, and consent letter, committing to keep the said amount in the bank for three years.
- An application is made to the Banking Regulation and Supervision Agency (BDDK) in order to determine that the investment meets the conditions set out in the relevant legislation.
- If the BDDK, having examined the application under the applicable laws and regulations, determines that the required conditions are met, it issues a certificate of conformity and sends it, by official letter, to the General Directorate of Population and Citizenship Affairs and the General Directorate of Migration Management. If the application was made through the bank, a copy of the certificate of conformity is also forwarded to the relevant bank so that the foreign investor is informed.
- Following this, the foreign investor applies to the Migration Management for a short-term residence permit. Once the application is accepted, the person is issued a Residence Permit Application Document. This document grants the right to stay legally in Turkey for 90 days from the date of application.
- As the final stage, the application for Turkish citizenship is submitted to the General Directorate of Population and Citizenship Affairs.
For applications prepared in full, the process can often be concluded within 3 to 6 months. However, the evaluation period may vary for each file.
The Bank Deposit Method: A Strong Alternative for Acquiring Turkish Citizenship
For foreign nationals who wish to apply for Turkish citizenship and to protect their investment securely, but who do not want to tie it to real estate or bonds, the bank deposit method is one of the strongest alternatives. The fact that the deposit continues to belong to the investor, along with the possibility of earning interest if a suitable account type is chosen, are among the main advantages that make this method stand out. The most important of these advantages is the protection of the investor’s money. The deposited amount is not transferred to any institution, spent, or exchanged. The money remains entirely in the investor’s own bank account. After the three-year period is completed, the investor may, if they wish, withdraw the deposit, use it for other investments, or continue to keep it in the bank. In this respect, the bank deposit method is a highly attractive option for investors who wish to both benefit from the citizenship advantage and preserve their financial flexibility.
Why Is It Important to Carry Out the Process With Professional Support?
A citizenship application is not simply a matter of depositing money. There are many legal and administrative stages, such as banking transactions, the BDDK conformity process, the residence permit application, and the preparation of official documents, translations, and notarial procedures. Missing documents, incorrectly ordered application steps, or improperly prepared paperwork can prolong the process or even cause the application to be rejected.
For this reason, having the application carried out by an experienced lawyer:
- Ensures correct planning of the transactions
- Enables effective follow-up of the process with official institutions
- Prevents missing documents
- Reduces time and cost losses
offering an important advantage.
Tercan Legal: Your Trusted Solution Partner in the Citizenship Acquisition Process
Turkish citizenship applications are not limited to making an investment; they constitute a multi-stage legal process requiring banking transactions, the BDDK conformity process, the residence permit application, and the complete and proper handling of the citizenship file. Even a small procedural error in this process can prolong the application or cause it to result unfavorably.
At Tercan Legal, we provide our clients with comprehensive legal counsel at every stage of the process, from planning the investment to the conclusion of the citizenship application. Through the complete preparation of documents, the diligent follow-up of transactions with official institutions, and the management of the application in accordance with the legislation, we aim to ensure that our clients complete the process with confidence. With our transparent communication approach, our experience with international investors, and our solution-oriented approach, we are pleased to be your trusted legal solution partner on your journey to Turkish citizenship. Because at Tercan Legal, we act not for fees, but with a vision of shared success.
*This article is provided for general informational purposes and does not constitute legal advice. Investment thresholds and procedural requirements are set by Turkish law and regulation and may be updated over time. For guidance tailored to your specific situation, please contact our firm directly.
