Government Bonds as a Path to Turkish Citizenship by Investment
- Özgür Kurucuk
- 5 minutes ago
- 5 min read
If you’re thinking about becoming a Turkish citizen through investment, you’ve likely come across several options — real estate, bank deposits, and job creation. But one of the most secure and low-risk paths is often overlooked: investing in Turkish Government Bonds.
Under Article 12 of the Turkish Citizenship Law No. 5901 and Presidency Decree No. 106, foreign investors can qualify for citizenship by investing at least USD 500,000 in government bonds, provided the bonds are held for three years.
At Kurucuk & Associates, a leading English-speaking law firm in Istanbul, we’ve helped hundreds of investors and their families obtain Turkish Citizenship by Investment. In this guide, we’ll walk you through how the bond route works, who it’s best suited for, and what to expect at each stage.
Understanding the Turkish Citizenship by Investment Program
The Turkish Citizenship by Investment (TCBI) program was designed to attract foreign investment and strengthen the Turkish economy. It allows qualified investors to obtain citizenship through one of several approved investment routes:
Buying property worth at least $400,000
Depositing $500,000 in a Turkish bank
Creating jobs for at least 50 Turkish citizens
Purchasing government bonds worth $500,000 or more
The government bond route is particularly attractive for those who prefer a stable, state-backed investment rather than something tied to the property market or exchange rate fluctuations.
How Government Bonds are a Path to Turkish Citizenship
When you invest in Turkish Government Bonds, you’re essentially lending money to the government for a fixed period — in this case, three years. In return, you receive regular interest payments and, after the holding period, your initial investment is returned in full.
Here’s a simple breakdown of how it works:
Minimum investment: USD 500,000 (or equivalent in Turkish Lira)
Holding period: Minimum 3 years
Supervising authority: Banking Regulation and Supervision Agency (BRSA) and Capital Markets Board of Turkey (SPK)
Proof of compliance: Certificate of Conformity (Investment Confirmation Certificate)
After your investment is verified, you can apply for Turkish residency and, soon after, for citizenship.
Step-by-Step Application Process
1. Preparing Your File
Your journey starts with a Legal Service Agreement and Power of Attorney (PoA), allowing your Turkish lawyer to handle formalities on your behalf.
You’ll need documents such as your passport, birth and marital status certificates, a police clearance certificate, and biometric photos — all translated and legalized.
2. Making the Investment
Your lawyer opens a Turkish bank account and facilitates the purchase of government bonds in your name. The funds are converted into Turkish Lira and locked for three years, as required by law.
3. Due Diligence and Certification
The BRSA then reviews your investment and issues a Certificate of Conformity, confirming it meets the program’s requirements. This certificate forms the basis of your citizenship application.
4. Citizenship Application and Approval
With the investment confirmed, your lawyer files your residency permit and citizenship application with the General Directorate of Population and Citizenship Affairs. Once approved, you’ll receive your citizenship certificate, followed by your Turkish ID card and passport.
The entire process typically takes between 6 and 9 months, depending on documentation and review timelines.
Benefits of the Government Bond Route
1. Secure and Predictable Returns
Government Bonds are a Path to Turkish Citizenship by Investment. Since they’re backed by the Turkish Treasury, you enjoy fixed, predictable returns and full repayment of your principal at maturity.
Recent Turkish Lira bond interest rates have ranged from 30% to 40% annually, depending on the bank and term.
2. Dual Citizenship and Global Mobility
Once you become a Turkish citizen, you can enjoy visa-free or visa-on-arrival travel to more than 110 countries, including Japan, Singapore, and South Korea.
Turkey also has an E-2 Visa Treaty with the United States, giving citizens a unique opportunity to live and invest in the U.S. as entrepreneurs. And yes — Turkey allows dual citizenship, so you won’t have to give up your original nationality.
3. No Need to Live in Turkey
Unlike many other countries, Turkey does not require you to live in the country before or after obtaining citizenship. You can complete the entire process through your lawyer while living abroad.
Risks and What to Be Aware Of
While the bond route is considered safe, there are still a few factors to keep in mind.
Currency and Inflation Risks
Your investment must be made in Turkish Lira, so you may face exchange rate fluctuations during the three-year holding period. However, given the high interest rates, many investors find the returns balance out this risk.
Policy Changes
Over the years, the government has adjusted investment thresholds — for example, raising the real estate minimum from $250,000 to $400,000. Similar changes could happen again, so acting promptly and under legal advice is important.
Legal Guidance Is Key
Having a qualified lawyer in Turkey is crucial. Your lawyer ensures your investment meets official requirements, your documents are correctly prepared, and your application stays compliant at every stage.
At Kurucuk & Associates, we handle every aspect — from banking and documentation to final approval — providing clients with confidence and peace of mind.
Comparison: Bonds vs. Real Estate vs. Bank Deposit
Investment Route | Minimum Amount | Holding Period | Risk Level | Liquidity | Key Advantage |
Government Bonds | $500,000 | 3 Years | Low | Moderate | Secure, fixed income |
Real Estate | $400,000 | 3 Years | Medium | Medium | Tangible asset & property gains |
Bank Deposit | $500,000 | 3 Years | Low | High | Flexible, high-interest returns |
If you’re a conservative investor who values security and a clear legal framework, government bonds are the ideal choice.
Expert Legal Insight — Kurucuk & Associates
For foreign investors, having the right legal partner makes all the difference.
At Kurucuk & Associates, based in Istanbul, we specialize in Turkish Citizenship by Investment and assist clients from all over the world. Led by M. Özgür Kurucuk, our team offers end-to-end legal support — from opening your Turkish bank account and securing your Tax ID to filing your citizenship application and obtaining your Turkish passport.
Our goal is simple: to make your transition into Turkish citizenship smooth, transparent, and fully compliant with Turkish law.
Frequently Asked Questions
How can I get Turkish citizenship by buying government bonds?
Invest at least USD 500,000 in Turkish Government Bonds, keep them for three years, and apply under the Citizenship by Investment Program.
Are Turkish Government Bonds safe?
Yes. They are fully backed by the Turkish government, offering fixed returns and minimal risk.
Can my spouse and children be included?
Yes. Your spouse and children under 18 can be included in the same citizenship application at no extra investment.
What interest rates do Turkish bonds offer?
Rates currently range between 30% and 40%, depending on market and bank terms.
Can I sell my bonds after three years?
Yes. Once the holding period ends, you can sell or reinvest your bonds without affecting your citizenship.
Let Kurucuk & Associates Handle Your Citizenship Process Seamlessly
Contact Kurucuk & Associates for expert legal guidance on obtaining Turkish Citizenship by Investment through Government Bonds.
