Turkish Citizenship by Government Debt Instruments
We Handle Your Government Debt Instrument Investment and Your Citizenship Process Together
Turkish citizenship may be applied for by purchasing a suitable government debt instrument worth at least USD 500,000, or the equivalent in foreign currency, through a deposit or participation bank operating in Türkiye, and by undertaking to hold it in the investment account for three years.
In this type of investment, the investment amount must be transferred from abroad in foreign currency. The foreign currency is sold to the Central Bank of the Republic of Türkiye through the same bank and converted into Turkish lira; a suitable Turkish lira-denominated government debt instrument is then purchased, again through the same bank, on the same day or on the first business day that follows.
Canaydın Law Firm manages the process from the power of attorney and bank preparations through the foreign currency transfer from abroad, currency conversion, purchase of the government debt instrument, the three-year holding undertaking, the suitability letter of the Ministry of Treasury and Finance, and the investor residence permit, up to the Turkish citizenship application.
What We Do for You
Preliminary Assessment of the Investor and Family
The nationality, marital status and existing documents of the main investor, and the application status of the spouse and children under 18, are assessed.
Power of Attorney and Bank Preparation
A power of attorney suitable for banking, investment and citizenship procedures is prepared; the tax number, translation, notary and investment account preparations are carried out.
Foreign Currency Transfer from Abroad
The transfer of the investment amount in foreign currency from abroad to the bank account opened in the investor's name is arranged, and the transaction structure is set up in line with the citizenship requirements.
Conversion of Foreign Currency into Turkish Lira
The sale of the transferred foreign currency to the Central Bank of the Republic of Türkiye through the same bank, and its conversion into Turkish lira, are followed.
Purchase of the Government Debt Instrument
The procedures for purchasing a suitable government debt instrument through the same bank are carried out, with the amount converted into Turkish lira, on the same day or on the first business day that follows.
Three-Year Holding Commitment
The bank declaration and undertaking procedures stating that the purchased government debt instrument will be held in the investment account for three years are completed.
Suitability Letter and Citizenship Procedures
The bank's official application to the Ministry of Treasury and Finance, the suitability letter, the investor residence permit and the Turkish citizenship procedures are followed.
How the Process Works
- 01
Assessment of the Investor and Family Structure
The application status of the main investor, the spouse and children under 18, and the family documents are reviewed.
- 02
Determination of the Bank and Investment Structure
The bank through which the transaction will be carried out, the investment account, and a government debt instrument suitable for the three-year holding period are assessed. As a rule, instruments with less than three years remaining to maturity are not used.
- 03
Power of Attorney and Tax Number
A power of attorney suitable for banking, investment and citizenship procedures is prepared; the tax number, translation and notary procedures are completed.
- 04
Opening of the Bank and Investment Account
The bank's identification and customer acceptance procedures are completed and the investment account is opened.
- 05
Transfer of Foreign Currency from Abroad
Foreign currency worth at least USD 500,000, or the equivalent, is transferred from abroad to the investor's bank account in Türkiye.
- 06
Sale of Foreign Currency and Conversion into Turkish Lira
The investment amount is sold to the Central Bank of the Republic of Türkiye through the same bank and converted into Turkish lira.
- 07
Purchase of the Government Debt Instrument
A suitable government debt instrument is purchased through the same bank, with the amount converted into Turkish lira, on the same day or on the first business day that follows.
- 08
Three-Year Holding Commitment
The procedures stating that the government debt instrument will be held in the investment account for three years from the date of purchase are completed.
- 09
The Bank's Application to the Ministry
The bank forwards the investment and undertaking documents to the Ministry of Treasury and Finance by official letter. An application made directly to the Ministry by the investor or their representative is not taken into consideration.
- 10
Suitability Letter
If the examination by the Ministry of Treasury and Finance determines that the requirements are met, a suitability letter is issued.
- 11
Investor Residence Permit
Following the suitability letter, the investor residence permit file is prepared and the required biometric procedures are completed.
- 12
Turkish Citizenship Application
The citizenship files of the main investor, their spouse and their children under 18 are prepared; the application is made and the required biometric procedures are carried out.
- 13
Turkish Identity Card and Passport
Following the citizenship decision, the population registration, Turkish identity card and passport procedures are completed.
- 14
Procedures at the End of the Three-Year Period
After the three-year period is completed, bank procedures are carried out for the removal of the citizenship annotation on the investment account and for the necessary name or identity updates.
Which Government Debt Instruments Can Be Used?
For the citizenship application, Turkish lira-denominated Government Domestic Debt Securities and Turkish lira-denominated lease certificates issued in the domestic markets by Hazine Müsteşarlığı Varlık Kiralama A.Ş. (the Treasury's Asset Leasing Company) may be used.
The investment instrument is determined in accordance with the three-year holding requirement and the technical conditions the bank applies to citizenship procedures.
Foreign Currency Transfer from Abroad and the Same-Bank Requirement
In this type of investment, the investment amount is transferred to the investor's bank account in Türkiye by foreign currency transfer from abroad. The cash deposit method is not used in citizenship investments.
The conversion of the foreign currency into Turkish lira and the purchase of the government debt instrument are carried out through the same bank. The investment must be made with the Turkish lira obtained from the currency conversion on the same day or on the first business day that follows.
Can the Investment Return Be Used?
During the three-year period, the principal investment amount must be preserved, and the government debt instrument must not be sold, transferred or reduced at the investor's will.
Provided that this requirement is maintained, the investor may benefit from the interest or coupon payments of a government bond, or from the periodic returns of a lease certificate.
Which Procedures Can Be Carried Out Without Coming to Türkiye?
The powers of attorney, tax number, bank and investment account preparation, coordination of the foreign currency transfer from abroad, currency conversion, purchase of the government debt instrument, the three-year holding undertaking and the procedures up to the suitability letter can be carried out remotely, within the framework of the bank's acceptance of the power of attorney and its internal procedures.
The bank may require the investor to be present in person for account opening or customer acceptance procedures. At the investor residence permit and Turkish citizenship application stages, the main investor and the spouse must complete the required biometric procedures in Türkiye.
Applications of the Spouse and Children
The spouse of the main investor and their children under 18 may apply for Turkish citizenship within the scope of the main investment, without purchasing a separate government debt instrument.
- Marriage documents
- Birth certificates of the children
- Family registration documents
- Ages of the children
- Children from a previous marriage
- In the case of divorce, the divorce decree and custody documents
- Consent of the other parent
- Discrepancies in birth and marital status records
- Apostille, attestation, translation and notary requirements for the documents
Files Already Initiated
The files of investors who have previously opened a bank or investment account, transferred foreign currency from abroad, or started the purchase of a government debt instrument can be reviewed from their current stage.
If a child is removed from the file or their application is rejected because they turn 18 during the application, the administrative application and lawsuit avenues are assessed separately.
Procedures at the End of the Three-Year Period
When the three-year period is completed, the procedures for the removal of the citizenship-related holding annotation in the bank and relevant institution records are carried out.
If the name, surname, identity or passport details on the bank and investment account need to be updated after citizenship, these procedures are completed. Afterwards, the investment instrument may be sold, transferred, or continue to be held at the investor's preference.
FAQ
Frequently Asked Questions
Is citizenship possible through government debt instruments?
Yes. Foreign currency worth at least USD 500,000 must be converted into Turkish lira, and the government debt instruments purchased with it must be held for at least three years.