Turkish Citizenship by Investment
— $500,000 Bank Deposit Route
I have prepared this document to walk you through the key legal requirements and frequently asked questions regarding the Turkish Citizenship by Investment program via bank deposit. Please review the questions below carefully. Should you have any further questions or wish to proceed, I am available at your convenience.
As per the 106th Presidential Order, foreign nationals who deposit at least 500,000 USD in a Turkish bank with a pledge not to withdraw it for 3 years, may apply for fast-tracked Turkish Citizenship by Investment.
The investor may apply for Turkish citizenship together with their spouse and all children under 18 years of age.
To apply for Turkish citizenship through the bank deposit route, you must convert USD 500,000 into Turkish Lira (TL) and place it in an interest-bearing TL account for three years. This means that your funds will be denominated in TL for the entire holding period of 3 years.
There used to be exchange-rate protection mechanisms such as YUVAM and interest-bearing USD accounts, but these options have been removed.
Unfortunately, the option of investing in Turkish government bonds for the citizenship-by-investment (CBI) program is no longer offered by the banks.
Unfortunately, the option of using a YUVAM account for citizenship application is no longer offered by the banks.
Unfortunately, there is no guarantee that your funds will retain a value of at least 500,000 USD after three years in an interest-bearing TL account, even with the interest accrued.
You are free to withdraw your funds 3 years after you deposit them for citizenship application purposes.
You can check the current interest rates on the official website of the Central Bank of the Republic of Turkey: www.tcmb.gov.tr
