Turkish Citizenship by Bank Deposit
We Manage Your Deposit Investment and Your Citizenship Process Together
Turkish citizenship can be applied for by placing a deposit of at least USD 500,000 or its equivalent with a bank operating in Türkiye and undertaking to keep it for three years. The suitability of the deposit investment for the citizenship requirements is determined by the Banking Regulation and Supervision Agency (BDDK).
The investment amount can be transferred to the bank account or, within the bank's acceptance conditions, deposited in cash. The amount deposited in US dollars, euros, pounds sterling or Swiss francs is converted into Turkish lira, and a Foreign Currency Purchase Certificate is issued for the transaction.
Canaydın Law Firm manages the process from the preparation of the bank account and power of attorney, through the deposit of the investment amount and the conversion into Turkish lira and Foreign Currency Purchase Certificate procedures, to the three-year holding undertaking, the certificate of conformity, the investor residence permit and the Turkish citizenship application.
Under a power of attorney accepted by the bank and within the institution's practice, account, investment and instruction procedures can be carried out on behalf of the investor.
What We Do for You
Preliminary Assessment of the Investor and Family
The nationality, marital status and existing documents of the main investor, as well as the application status of the spouse and children under 18, are assessed.
Power of Attorney and Bank Preparation
A power of attorney suited to banking and citizenship procedures is prepared; the preparations for the tax number, translation, notary and account opening are carried out.
Opening the Bank Account
The account opening and customer acceptance process of the bank where the investment will be made is followed; procedures that require attendance in person are identified in advance.
Depositing the Investment Amount with the Bank
The investment amount can be transferred to the bank account or, within the bank's acceptance conditions, deposited in cash.
Conversion into Turkish Lira and Foreign Currency Purchase Certificate
The amount deposited in US dollars, euros, pounds sterling or Swiss francs is converted into Turkish lira, and a Foreign Currency Purchase Certificate is issued.
Deposit and Three-Year Holding Commitment
The investment amount required for citizenship is transferred to the deposit account, and the procedures for the undertaking to keep the deposit for three years are completed.
Certificate of Conformity
The account, investment, Foreign Currency Purchase Certificate and undertaking records issued by the bank are checked, and the BDDK certificate of conformity process is followed.
Residence and Citizenship Procedures
After the certificate of conformity, the investor residence permit, Turkish citizenship, biometric procedures, population registration, Turkish identity card and passport processes are carried out.
How the Process Works
- 01
Assessment of the Investor and Family Structure
The application status of the main investor, spouse and children under 18, and the family documents, are reviewed.
- 02
Determination of the Bank and Transaction Structure
The bank where the investment will be made, the type of account, and the possibility of carrying out the transactions by power of attorney are assessed.
- 03
Power of Attorney and Tax Number
A power of attorney suited to banking and citizenship procedures is prepared; the tax number, translation and notary procedures are completed.
- 04
Opening the Bank Account
The identity and customer acceptance procedures requested by the bank are completed, and the investment account is opened.
- 05
Depositing the Investment Amount with the Bank
The amount that forms the basis of the citizenship investment is transferred to the bank account or, within the bank's acceptance conditions, deposited in cash.
- 06
Conversion into Turkish Lira and Foreign Currency Purchase Certificate
The US dollars, euros, pounds sterling or Swiss francs deposited are converted into Turkish lira, a Foreign Currency Purchase Certificate is issued, and the deposit account that forms the basis of the citizenship investment is established.
- 07
Three-Year Holding Commitment
The bank instruction and undertaking procedures stating that the deposit will be kept for three years within the scope of citizenship are completed.
- 08
Certificate of Conformity
The BDDK certificate of conformity process is followed through the bank records and investment documents.
- 09
Investor Residence Permit
After the certificate of conformity, the investor residence permit file is prepared and the required biometric procedures are completed.
- 10
Turkish Citizenship Application
The citizenship files of the main investor, their spouse and their children under 18 are prepared; the application is submitted and the required biometric procedures are carried out.
- 11
Turkish Identity Card and Passport
Following the citizenship decision, the population registration, Turkish identity card and passport procedures are completed.
- 12
Procedures at the End of the Three-Year Period
Once the three-year period has been completed, the procedures are carried out for the removal of the citizenship undertaking on the deposit, the updating of name and identity details, and the withdrawal or other use of the investment.
Return on the Deposit Investment
Throughout the three-year period, the principal amount that forms the basis of the citizenship investment and the three-year holding requirement must be maintained. Depending on the banking product chosen, the investor may benefit from time deposit interest or, in participation banking, from profit share.
The interest or profit share rate, the maturity structure and the account conditions vary according to the bank and the product chosen. Before any transaction that could affect the principal investment amount or the three-year holding requirement, it is checked whether the citizenship record is preserved.
Which Procedures Can Be Carried Out Without Coming to Türkiye?
The preparation of the power of attorney, the tax number, deposit instructions, conversion into Turkish lira, the Foreign Currency Purchase Certificate and the procedures relating to the certificate of conformity can be carried out remotely, within the bank's acceptance of powers of attorney and its internal procedures.
Some banks may require the investor to be present in person for account opening or customer acceptance procedures. This is checked when the bank for the investment is being selected.
At the investor residence permit and Turkish citizenship application stages, the main investor and the spouse must complete the required biometric procedures in Türkiye. Whether the children must attend in person is assessed according to their ages and the circumstances of the file.
Applications of the Spouse and Children
The spouse and children under 18 of the main investor can apply for Turkish citizenship within the scope of the main investment, without making a separate deposit investment.
In the family file, the following documents and situations in particular are reviewed:
- Marriage documents
- Birth documents of the children
- Family registry documents
- Ages of the children
- Children from a previous marriage
- In the event of divorce, the divorce decree and custody documents
- Consent of the other parent
- Discrepancies in birth and marital status records
- Apostille, certification, translation and notary requirements for the documents
Files Already Started
The files of investors who have already opened a bank account, deposited the investment amount or started the deposit transaction can be reviewed from their current stage.
In this scope:
If a child is removed from the file or the child's application is rejected because the child turns 18 during the application, the administrative appeal and lawsuit routes are assessed separately.
Procedures at the End of the Three-Year Period
When the three-year period is completed, the procedures are carried out for the removal of the citizenship undertaking from the records of the bank and the relevant institution.
If the name, surname, identity or passport details on the bank account need to be updated after citizenship, these procedures are completed. The deposit can then, at the investor's choice, be withdrawn, transferred or kept with the bank.
FAQ
Frequently Asked Questions
How does citizenship by bank deposit work?
Foreign currency equivalent to at least USD 500,000 is converted into Turkish Lira through a bank and kept on deposit for at least three years. As long as the amount does not fall below the threshold, returns such as interest or, in participation banking, profit share can be earned during this period.