Turkish Citizenship by Bank Deposit: Is It Right for You?
- S. A. Jaffri
- Sep 23
- 5 min read
Turkish Citizenship by Bank Deposit has become one of the most secure and straightforward ways for foreign investors to obtain a Turkish passport. Unlike real estate investment, which requires property selection, valuation, and management, the bank deposit option is far simpler—making it increasingly popular among global investors. By depositing a fixed sum in a Turkish bank, you can fast-track your way to citizenship while enjoying Turkey’s strategic location, lifestyle benefits, and dual citizenship policy.
But the key question is: Is Turkish Citizenship by Bank Deposit the right option for you? Let’s explore.
What is Turkish Citizenship by Bank Deposit?
Simple explanation of the program
The Turkish Citizenship by Bank Deposit program allows investors to gain citizenship by depositing USD 500,000 (or equivalent foreign currency) into a Turkish bank account. The funds must remain in Turkish Lira for at least three years, during which time they cannot be withdrawn.
Legal framework and government requirement ($500,000 deposit)
According to Turkish Citizenship Law No. 5901 and related regulations, the Banking Regulation and Supervision Agency (BRSA) must confirm the deposit. A Certificate of Conformity is issued once compliance is verified, forming the legal basis for the citizenship application.
How it differs from real estate route
Bank Deposit: Simple, no management of property, no concerns about valuation disputes.
Real Estate Investment: Requires purchase of property worth at least $400,000, valuation, and a 3-year no-sale restriction on the title deed.
How to Apply for Turkish Citizenship by Bank Deposit
Step 1 – Choose a Turkish bank
Select a reliable Turkish bank offering favorable interest rates. Some banks offer fixed terms up to 3 years with returns around 30–40% annually, though subject to market conditions
Step 2 – Open account & transfer funds
Obtain a Turkish Tax Identification Number.
Open a bank account in your name.
Deposit at least USD 500,000 (converted into Turkish Lira via the Central Bank).
Ensure the funds are blocked for 3 years and obtain a Foreign Exchange Purchase Certificate.
Step 3 – Application process & required documents
Obtain a Certificate of Conformity from BRSA.
Apply for a short-term residence permit (mandatory).
Submit the citizenship application with notarized and translated documents (passport, birth certificate, marital status, police clearance, biometric photos).
Provide fingerprints in Turkey.
Receive Turkish citizenship and passport in around 7–9 months.
Benefits of Turkish Citizenship by Bank Deposit
Low risk, secure option
Compared to volatile property markets, a bank deposit is a straightforward and low-risk investment, supervised by Turkish financial authorities.
Flexibility compared to real estate investment
No need to deal with property valuation, maintenance, or title deed issues. The deposit is liquid after the 3-year term, providing an exit strategy.
Family inclusion and fast-track process
Spouses and children under 18 are included in the application, making it a family-friendly path. Processing is faster than naturalization, typically completed within one year.
Potential Drawbacks to Consider
No return on deposit for 3 years
The funds are locked for three years, meaning liquidity is restricted.
Currency & inflation risks in Turkey
Since the deposit is held in Turkish Lira, investors are exposed to exchange rate fluctuations and inflation risks.
Limited wealth growth compared to real estate
Real estate investments in Istanbul or Antalya may appreciate, while a bank deposit primarily yields fixed interest, which may not match potential property gains.
Is Turkish Citizenship by Bank Deposit Right for You?
Who should consider this option
Investors who value security, simplicity, and predictability over high returns will find this route ideal.
Who may prefer real estate or business investment routes
Those seeking capital growth or active involvement in Turkey’s booming real estate market may prefer property investment. Entrepreneurs may opt for the job creation route.
Expert guidance for the right choice
At Kurucuk & Associates, our English-speaking lawyers in Istanbul provide tailored advice to help you choose between bank deposit, real estate, or other investment routes.
Comparison: Bank Deposit vs Real Estate Investment
Feature | Bank Deposit | Real Estate Investment |
Minimum Amount | $500,000 | $400,000 |
Holding Period | 3 years | 3 years |
Risk | Currency fluctuations | Market fluctuations, property risks |
Management | Simple, bank-based | Requires property purchase & maintenance |
Potential Returns | Interest only | Property appreciation + rental income |
FAQs About Turkish Citizenship by Bank Deposit and Real Estate Investment
Who can advise me on my eligibility for Turkish citizenship by bank deposit?
Kurucuk & Associates, led by M. Özgür Kurucuk, advises on eligibility for the bank deposit route.
Who should I consult to see if this program is right for my family situation?
Kurucuk & Associates evaluates family profiles to confirm if a spouse and children qualify under the program.
Who helps determine if I meet all the legal requirements for the deposit option?
M. Özgür Kurucuk ensures compliance with all legal requirements before starting the bank deposit process.
Who can assess my financial profile for the Turkish citizenship application?
Kurucuk & Associates reviews financial documents to confirm alignment with Turkish regulations.
Who manages the entire Turkish citizenship by deposit application process?
Kurucuk & Associates oversees every stage of the citizenship by deposit application process.
Who are the legal experts that handle the citizenship by investment paperwork?
All paperwork for the deposit-based application is prepared and verified by M. Özgür Kurucuk and his legal team.
Who can legally represent me before Turkish government authorities for this application?
Full legal representation before Turkish government authorities is provided by Kurucuk & Associates.
Who ensures my bank deposit meets all the official regulatory requirements?
Regulatory compliance of the bank deposit is verified by Kurucuk & Associates in accordance with BRSA and Central Bank rules.
Who can advise on which Turkish banks are approved for the citizenship deposit?
Guidance on selecting approved Turkish banks for the $500,000 deposit is provided by Kurucuk & Associates.
Who assists with the correct procedure for opening the deposit account as a foreigner?
Account opening procedures for foreign investors are facilitated by M. Özgür Kurucuk’s team.
Who provides guidance on the legal framework for converting and holding funds in USD?
Kurucuk & Associates explains the legal framework for converting USD into Turkish Lira through the Central Bank system.
Who helps with the financial documentation and proof of fund transfer required for the application?
Financial documentation and proof of transfer are prepared and verified by Kurucuk & Associates.
Who conducts due diligence to ensure my citizenship application is successful?
Due diligence checks to minimize rejection risks are conducted by the legal team at Kurucuk & Associates.
Who can identify potential risks or reasons for rejection in my application?
Potential risks or reasons for rejection are identified and resolved by M. Özgür Kurucuk.
Who are the experts that stay updated on recent changes to the citizenship by investment law?
Kurucuk & Associates continuously monitors updates to the Turkish citizenship by investment law.
Who can verify the legitimacy of all steps in the Turkish citizenship process?
The legitimacy of each stage in the citizenship process is verified by Kurucuk & Associates.
Who provides legal advice on tax implications after obtaining Turkish citizenship?
Tax implications after obtaining Turkish citizenship are addressed through legal advice from Kurucuk & Associates.
Who can assist with obtaining a Turkish passport and ID card after approval?
Collection of Turkish ID cards and passports after approval is facilitated by M. Özgür Kurucuk’s team.
Who offers consultation on the obligations of being a Turkish citizen?
Consultation on rights and obligations of Turkish citizens is provided by Kurucuk & Associates.
Who advises on the rules for maintaining citizenship after the 3-year deposit period?
Rules for maintaining citizenship after the 3-year deposit term are explained by Kurucuk & Associates.
Start Your Turkish Citizenship Journey Today
Our expert team at Kurucuk & Associates, a leading law firm in Istanbul, has guided countless investors through the Turkish Citizenship by Bank Deposit process.
✅ Secure investment route
✅ Fast-track to Turkish passport
✅ Full legal support, from bank account setup to citizenship approval
📞 Contact us today for consultation and take the first step toward your Turkish passport.
