Discover how to obtain Turkish citizenship through bank deposits. Learn the step-by-step process, requirements, and benefits of this investment option.

Turkey, a country straddling Europe and Asia, offers foreign nationals a unique opportunity to obtain citizenship through various investment options, including bank deposits. This article outlines the process of acquiring Turkish citizenship by depositing funds in Turkish banks and other available routes.

Table of Contents

Introduction

Turkey’s strategic location at the crossroads of Europe and Asia, combined with its rich culture, delicious cuisine, and warm hospitality, makes it an attractive destination for those seeking a new home. The country’s diverse landscapes, from stunning coastlines to majestic mountains, provide a backdrop for a high-quality lifestyle that often surpasses living standards in many other nations.

In recent years, Turkey has introduced citizenship programs to attract foreign investment, including the option to obtain citizenship through bank deposits. This program, along with other investment routes, has made relocating to Turkey more accessible than ever before. Whether you’re drawn by the country’s natural beauty, vibrant culture, or promising business opportunities, Turkey offers an ideal setting to start a new chapter in your life.

Stages For Turkish Citizenship by Bank Deposit

What are the stages for acquiring Turkish citizenship via bank deposit? Here is a stage-by-stage guide below:

Stage 1: Obtain a Tax Number

The first step in the process is acquiring a Turkish tax number. This ten-digit identifier is crucial for all financial transactions and registrations in Turkey, including:

Opening a bank account,
Purchasing property,
Subscribing to utilities,
Obtaining insurance,
Accessing healthcare,
Performing notarial tasks,
Applying for residence permits.

You can obtain a tax number from the Interactive Tax Office’s website (Interaktif Vergi Dairesi) or any tax office in Turkey. Required documents include your passport details and your parents’ names.

Stage 2: Open an Investment Account

After obtaining your tax number, you’ll need to open an investment account with a Turkish bank. Required documents typically include:

Your passport,
Official tax registration document,
Turkish address declaration.

Stage 3: Deposit Money in The Bank

The core requirement for this citizenship pathway is depositing at least USD 500,000, or its equivalent, in Turkish lira, another convertible foreign currency, or precious metals specified by the Central Bank of the Republic of Turkey. Key points to note:

The deposit must remain in the Turkish bank for three years,
Funds can be distributed across different accounts in various Turkish banks, as long as the total meets the USD 500,000 requirement,
The deposited amount must be convertible and equivalent to USD 500,000.

It’s important to note that while the funds must remain deposited for three years, there may be restrictions on withdrawing or using them during this period. Be sure to clarify these details with your chosen bank.

Stage 4: Application For Certificate of Conformity

After making the deposit, you or your proxy must sign several documents:

A written contract,
An order to block the deposit,
A letter of consent.

The bank will submit these documents to the Banking Regulation and Supervision Agency (BRSA). The BRSA will then notify the General Directorate of Population and Citizenship Affairs and the Directorate General of Migration Management. The bank will also share this information with you, allowing you to proceed with your citizenship application.

Stage 5: Application For Residency

As a foreign investor, you’ll obtain a one-year investor residence permit. Other family members included in your application will need to wait for the conclusion of the citizenship process. If family members require a residence permit, they should visit Turkey with a valid visa. However, as the primary investor, you do not need to visit Turkey to obtain your residence permit. Required documents for the investor residence permit include:

Notarized translations of passports,
Certificate of conformity,
Biometric photographs,
Valid health insurance,
Residence permit payment receipt,
Investor’s passport visa page (if applicable).

Stage 6: Application For Turkish Citizenship

After fulfilling the three-year investment requirement, you can apply for citizenship. The process typically takes 3-4 months after submitting the application. Turkey allows dual citizenship, so you won’t need to renounce your original nationality.

After the three-year period, you can reclaim your investment and any legal revenues. Turkish citizenship is permanent and extends to your children, who will be born as Turkish citizens.

Stage 7: Application For Turkish ID Card and Passport

The final step is obtaining your Turkish ID card and passport. You and your family members can acquire these documents from the Provincial Directorate of Census and Citizenship in Turkey if you have a Turkish address. Alternatively, you can receive them through the Turkish embassy in your home country after registering your fingerprints.

Alternative Routes to Turkish Citizenship

While this article focuses on the bank deposit method, there are several other investment-based pathways to Turkish citizenship:

Real Estate Investment: Purchase property worth a minimum of USD 400,000.
Fixed Capital Investment: Invest at least USD 500,000 in fixed capital.
Job Creation: Create employment opportunities for at least 50 people.
Government Debt Securities: Buy government debt securities valued at a minimum of USD 500,000 and retain them for three years.
Investment Funds: Acquire shares in real estate or venture capital investment funds amounting to at least USD 500,000, and hold these shares for three years.

Rights of Turkish Citizens

Obtaining Turkish citizenship comes with both rights and responsibilities. As a Turkish citizen, you’ll have the right to vote, work without restrictions, and access public services, including healthcare and education. You’ll also be able to travel visa-free or with visa-on-arrival to many countries.

Conclusion

Turkey’s citizenship by investment program, particularly through bank deposits, offers a straightforward path to obtaining Turkish citizenship. With its strategic location, rich culture, and growing economy, Turkey presents an attractive option for those seeking a new home or expanding their global presence.

Whether drawn by the country’s natural beauty, vibrant culture, or promising business opportunities, the bank deposit route to Turkish citizenship provides a viable option for making Turkey your new home. By carefully following the outlined stages and fulfilling the requirements, you can embark on an exciting new chapter of your life as a Turkish citizen.