Introduction
The Turkish Citizenship by Investment program allows foreign nationals to obtain Turkish citizenship through qualifying investments, including purchasing real estate valued at minimum $400,000 or choosing to deposit $500,000 in a Turkish bank as a fixed-term investment held for three years.
Working with a specialized Turkish law firm, applicants benefit from this government-backed route that provides one of the fastest pathways to a second passport in Europe, with applications typically processed within 3 to 4 months.
Table of Contents
Legal Framework
The bank deposit route operates under Article 12 of Turkish Citizenship Law No. 5901 and Article 20 of the Regulation on the Implementation of the Turkish Citizenship Law.
The regulation requires a minimum deposit of 500,000 USD or equivalent foreign currency. The investor must sign a commitment not to withdraw the funds for three years. The deposit must be confirmed by the relevant financial authority before the citizenship application proceeds to the Ministry of Interior.
The monetary threshold has remained unchanged in 2026. However, banking procedures and currency handling practices may vary depending on current Central Bank regulations.
Official legal sources are available at:
- Turkish Citizenship Law: https://www.mevzuat.gov.tr/mevzuat?MevzuatNo=5901&MevzuatTur=1&MevzuatTertip=5
- Implementation Regulation: https://www.mevzuat.gov.tr/mevzuat?MevzuatNo=201712043&MevzuatTur=7&MevzuatTertip=5
How the Deposit Works
You deposit 500,000 USD or its equivalent in another foreign currency. The bank blocks the account for three years. You sign a written commitment not to withdraw during that period.
The bank then issues an official confirmation document. This document goes to the relevant financial authority for verification. Once verified, your citizenship file moves to the Ministry of Interior for review.
Some banks accept USD deposits directly. Others may require conversion to Turkish Lira. The regulation does not mandate a specific currency, but you need to confirm your bank’s procedure before transferring funds. A Turkish law firm can check the bank’s requirements in advance and make sure the deposit structure complies with current rules.
Frequently Asked Questions
The regulation requires 500,000 USD or equivalent foreign currency. In practice, some banks may apply currency conversion procedures depending on current financial regulations. Investors should confirm whether conversion into Turkish Lira is required at the time of deposit. The legislation itself does not explicitly mandate TL denomination.
The Regulation still lists government debt instruments as an eligible category. However, not all banks operationally offer this option. Availability should be confirmed before initiating the process.
YUVAM is a banking product rather than a category defined in the citizenship regulation. Its eligibility depends on current banking practices and confirmation by competent authorities.
No legal guarantee exists regarding the preservation of value. Exchange rate fluctuations and interest variations may affect the final amount after the three-year holding period.
Funds may be withdrawn after the completion of the three-year commitment period, provided that the bank confirms uninterrupted maintenance of the deposit.
Current interest rates can be checked directly through the Central Bank of the Republic of Turkey: https://www.tcmb.gov.tr/wps/wcm/connect/en/tcmb+en
Your spouse and children under 18 can be included in the same application. Adult children do not qualify. Each family member goes through the same security clearance as you.
The regulation does not protect you from exchange rate changes. If you deposit in USD but the bank converts it to TL, the value can fluctuate over three years. There is no guarantee you will recover the same amount in USD after the holding period.
Procedural Steps
The process involves the following stages:
- Selection of a participating Turkish bank and opening of a blocked deposit account.
- Transfer of at least 500,000 USD or equivalent foreign currency to the account.
- Signature of a three-year commitment not to withdraw funds.
- Bank issues official confirmation of the deposit and commitment period.
- Submission of confirmation to the relevant authority for verification.
- Citizenship application submitted to the Ministry of Interior.
- Security clearance and application review.
- Presidential approval upon successful completion of all stages.
The timeline varies depending on administrative processing capacity and individual circumstances. No fixed processing period is guaranteed. Engaging a Turkish law firm at the outset helps coordinate documentation, track submission deadlines, and address procedural questions that arise during the review period.
Advantages of the Deposit Route
Depositing funds in a Turkish bank offers several practical advantages compared to other investment routes:
- No property acquisition or title deed registration required.
- No ongoing maintenance or operational responsibilities.
- Funds remain liquid after the three-year period.
- Simpler documentation compared to company formation or property purchase.
Risks and Limitations
Investors should be aware of the following limitations:
- No exchange rate protection or value guarantee.
- Interest rates on deposits may not offset inflation or currency depreciation.
- Early withdrawal disqualifies the investor from citizenship.
- Security clearance may result in application denial without financial compensation.
- Regulatory changes may affect procedural requirements during the holding period.
Comparison with Real Estate Route
The real estate route requires a minimum property purchase of 400,000 USD with a similar three-year holding period. Unlike the deposit route, real estate involves title deed registration, property maintenance, and potential valuation changes.
The deposit route provides greater liquidity but does not offer potential capital appreciation. The real estate route may provide both citizenship eligibility and asset growth, though it carries market risk.
Investors should evaluate both routes based on their financial objectives and risk tolerance. A Turkish law firm can provide a comparative analysis of both options based on the investor’s circumstances and the current regulatory environment.
Practical Considerations for 2026
Banking practices in Turkey continue to evolve in response to regulatory changes. Investors should:
- Confirm with the chosen bank whether USD deposits are accepted or must be converted to TL.
- Verify current interest rates and account terms before making a deposit.
- Obtain written confirmation of the bank’s participation in the citizenship program.
- Consult a licensed Turkish law fiwrm familiar with current banking procedures.
- Ensure all documentation is properly notarized and translated where required.
Working with legal counsel experienced in citizenship by investment matters is advisable to ensure compliance with procedural requirements and to address any regulatory changes during the holding period. An internationally oriented Turkish law firm can coordinate with the bank, government authorities, and the investor to streamline the process and reduce the risk of procedural errors.
Conclusion
The bank deposit route remains a viable option for obtaining Turkish citizenship in 2026. Understanding the legal framework, currency risks, and procedural requirements is essential before committing funds.
For a smooth and legally compliant application, consider working with an experienced Turkish lawyer who specializes in investment-based citizenship. Your investment deserves the protection of legal expertise.
- Author Av. Baris Erkan Celebi
- Barış Erkan Çelebi Founder of Turkish law firm
Contact Form
Baris Erkan Celebi is an English-speaking Turkish lawyer who exclusively represents foreign investors in Turkey. His law firm in Turkey specializes in providing international investors in Turkey with reliable legal counsel and personalized business solutions.
