Turkish Citizenship by Bank Deposit

Atty. Av. Serkan KARA, Serka Law Firm

Last reviewed: 5 October 2026 · Reviewed by Av. Serkan Kara

Turkish citizenship by bank deposit requires at least USD 500,000, or its equivalent in foreign currency, sold to a bank in Türkiye and by that bank to the Central Bank, with the Turkish lira from that sale held on deposit at the same bank for three years (Article 20(2)(ç) and 20(10) of the Regulation on the Implementation of the Turkish Citizenship Law). The Banking Regulation and Supervision Agency (BDDK, in English BRSA) determines the deposit for the Certificate of Conformity, and the spouse and the children who are minors or dependants come in on the same deposit. What decides the file is fixed before the transfer: which bank, which currency, in whose name, and on which day the currency is sold, because once the Central Bank has bought it the sale cannot be taken back.

Serka Law Firm runs deposit-route files from the bank’s first compliance question to the passport, as set out on our Turkish citizenship by investment lawyer page. Write before any transfer leaves your account, on WhatsApp at +90 530 127 59 35 or to info@serkalaw.com.

What the regulation actually requires before the money is blocked

Paragraph 10 of Article 20 of the Turkish Citizenship Regulation is the sentence this route turns on, and it is the part most published summaries leave out. The foreign currency is sold, before the transaction, to a bank operating in Turkey, and by that bank on to the Central Bank of the Republic of Turkey. The Turkish lira produced by that sale is what is then held on deposit for three years. The last amendment to that paragraph was made on 13 May 2022 and nothing since has changed it.

The mechanics of that sale are not in the regulation itself. Paragraph 10 delegates them to the Central Bank, which set them out in its citizenship implementation instruction of 16 May 2022. Four rules in that instruction decide whether a transfer qualifies, and each of them has ended a real file:

• The eligible currencies are US dollars, euro, pounds sterling and Swiss francs. A transfer in any other foreign currency is converted by the Turkish bank itself and then sold on to the Central Bank, so the route stays open to it. That is the answer for an investor whose own bank can no longer send dollars or euro.
• The bank that sells the currency and the bank that holds the lira deposit must be the same bank. Splitting those two across institutions breaks the chain the certificate of conformity has to document.
• Once the Central Bank has completed its purchase, the sale cannot be abandoned or canceled. The decision point on this route is before the transfer, never after it.
• The documentation duty sits with the transacting bank, which is why the bank is chosen with the file in mind rather than picked for its counter rate.

Did the August 2026 annulments change the bank deposit route?

No. The thresholds, the seven routes and the timetable are the same as before the Ministry of Interior’s statement of August 4, 2026, which reported citizenship decisions annulled or withdrawn after an operation against forged real estate valuation reports. What changed is how closely a file is read, and the bank deposit route rests on the fewest documents anyone else can forge: it has no valuation report at all.

On this route the evidence is produced by the bank. Under Article 20(10) of the Regulation on the Implementation of the Turkish Citizenship Law, the foreign currency is sold to a bank in Turkey, and by that bank to the Central Bank, before the lira deposit is opened. Under the Central Bank’s Implementation Instruction of May 16, 2022, the bank that sells the currency and the bank that holds the deposit must be the same institution, and the Banking Regulation and Supervision Agency (BRSA) determines the deposit for the Certificate of Conformity the citizenship file is built on. A file in which the transfer, the currency sale and the three-year deposit sit in one bank, in the investor’s own name, reads correctly under exactly the scrutiny the Ministry described.

The stakes are why the sequence is fixed before any money moves. Under Article 31 of Turkish Citizenship Law no. 5901, a decision granting citizenship is annulled where it resulted from the applicant’s own false statement or the concealment of a material fact, and under Article 32 the annulment reaches the spouse and the children who acquired citizenship through the applicant. Serka Law Firm acts on written instruction under a signed engagement agreement, and on a deposit file the bank, the currency and the transfer sequence are set in writing before the first transfer is made.

What is Turkish citizenship by bank deposit?

Turkish citizenship by bank deposit is the route that grants naturalization to a foreigner who deposits a qualifying amount in a BDDK-licensed Turkish bank and undertakes not to withdraw it for three years. It is one of several investment routes recognized under the regulation made pursuant to Law No. 5901, alongside real estate purchase, fixed capital investment, job creation, and government bond or fund holdings. The deposit route is favored by investors who want a liquid, returnable position rather than an illiquid asset.

The defining features are simple: a minimum deposit set by regulation, a three-year no-withdrawal commitment, conversion of foreign currency into Turkish Lira through the Central Bank, and a Certificate of Conformity that the BDDK issues on the bank’s application. The interest or return earned on the blocked funds belongs to the investor, and the principal is released at the end of the holding period.

How does the bank deposit route differ from the property route?

The bank deposit route keeps your capital liquid and returnable, while the property route ties it to a real asset you must buy, hold for three years, and later sell to recover value. Both routes lead to the same citizenship, but the legal and financial mechanics differ in ways that change which one suits you.

If you want the option to recover your capital cleanly after three years, the deposit route is usually the cleaner choice. If you intend to hold a Turkish asset long term anyway, the property route may align better. For a side-by-side view of every qualifying option, see our route-by-route guide with the qualifying amount for each option.

How does the application process work step by step?

The process moves from currency conversion to certification to filing, and most failures happen at the documentation stage rather than the decision stage. A disciplined sequence keeps the file clean from the first transfer to the citizenship decree.

1. Pre-deposit legal review. Confirm eligibility, check source-of-funds evidence, and fix the one bank that will both buy the currency and hold the deposit (Article 6(1) of the Central Bank’s Implementation Instruction) before any money moves.
2. Transfer and conversion. Bring the foreign currency into the investor’s own account at the bank that will hold the deposit. Under Article 20(10) of the Regulation, in its wording of 13 May 2022, the currency is sold to that bank and by it to the Central Bank, and converted into Turkish Lira.
3. Foreign Exchange Purchase Certificate (DAB). The bank issues this certificate documenting the currency conversion through the Turkish banking system. It is a mandatory supporting document.
4. Blocking and certificate of conformity. The Turkish lira proceeds of that sale are held for at least three years on deposit at the same bank that made the currency sale. Government debt instruments are a separate qualifying route with their own procedure, not an alternative way of holding this deposit. The bank sends the application with the investor’s documents to the BDDK, and the BDDK issues the Certificate of Conformity confirming that the minimum and the holding commitment are met.
5. Residence permit. Obtain the short-term residence permit available to investors, which serves as the basis for the citizenship application.
6. Citizenship application. File the complete file with the Directorate General of Civil Registration and Citizenship Affairs (Nüfus ve Vatandaşlık İşleri Genel Müdürlüğü), including all family members covered by the application.
7. Decision and decree. On approval, citizenship is granted by decree, and passports and identity documents follow.

Can a foreigner open a Turkish bank account for the citizenship deposit without residence?

Yes. A Turkish bank opens a non-resident individual account for the citizenship deposit without a residence permit. What one Turkish bank confirmed to this office in writing in September 2026: the account takes the passport, a Turkish tax number and a utility bill in the applicant’s own name dated within the last three months, issued in any country (electricity, water, gas, mobile or internet) and translated if it is not in English, followed by the bank’s know-your-customer and compliance checks and the account contracts. The same bank accepted the translated address page of a Russian internal passport in place of a bill, and refused a bank statement and a title deed as proof of address.

The bank that buys the foreign currency and the bank that holds the lira deposit must be the same bank (Article 6(1) of the Central Bank’s Implementation Instruction of 16 May 2022), and the same bank confirmed that it sends the application to the Banking Regulation and Supervision Agency (BDDK) with the documents and, after three years, confirms to the agency that the deposit was kept without breach. An account opened at one bank and a deposit held at another breaks the chain the Certificate of Conformity rests on.

What the banks wrote about the deposit in 2026

Every bank that takes a citizenship deposit runs its own practice inside the regulation, and that practice is read in writing before the money moves. These are the written answers on our files of August and September 2026; no client is named.

• A participation bank that runs the whole chain. On 10 September 2026 one participation bank confirmed in writing that it issues the foreign exchange purchase certificate (DAB) at the Central Bank’s rates, so that it is the selling bank; that it sends the application to the BDDK itself; and that at the end of the three years it writes to the BDDK that the deposit was kept without breach. Its list for the file includes an undertaking, a blocking instruction and a statement of consent signed by the investor, the passport, and the receipt or SWIFT details of the incoming transfer.
• What a private bank’s branch quoted on 31 August 2026. No commission on the conversion; the Central Bank’s rate of the day, not fixed in advance; the three-year block requested by letter to its treasury unit and usually confirmed within a working day; an account opened on a power of attorney made abroad, usually within a working day once the approvals are complete; and a time-deposit rate of 35 per cent that day, neither fixed nor guaranteed for three years. Like another branch of the same bank and a participation bank asked the same week, it offered nothing but the deposit for citizenship.
• Where the transfer comes from matters. The same branch wrote that for Russian citizens the investment amount cannot arrive by SWIFT and has to be paid in cash under its current procedure. Another participation bank asked a Russian citizen for his taxpayer number (INN) on 1 September 2026.

Two things follow for planning. The deposit rate is the bank’s, set again on each renewal day, so a rate quoted today is a reading and never a three-year return. And the bank is chosen for the chain it will document, the DAB, the block and the letters to the BDDK, before its rate is compared.

How long does Turkish citizenship by bank deposit take?

From a complete and correct submission, processing usually takes about three to six months to a citizenship decision, on top of the time needed to deposit funds, obtain certificates, and secure the residence permit. The total elapsed time depends far more on file quality than on the route itself. A file with missing translations, an unclear source-of-funds explanation, or mismatched family records will sit longer than a clean one.

Realistic planning treats the three year holding undertaking, the certification steps, and the citizenship review as sequential stages. Building the document list correctly at the start is the single largest lever on speed.

What is the cost basis?

The cost basis is the blocked deposit itself plus bank, translation, legalization, residence-permit, official filing, and legal-service costs. The 500,000 USD deposit is not a fee paid to the state; it is a held position that becomes free after the three-year commitment if the file remains compliant. The practical budget should also include document preparation, source-of-funds review, family-record translation, and bank charges.

What documents are required?

The core documents prove identity, family ties, lawful source of funds, and the qualifying deposit; where the funds are held abroad and have never been declared anywhere, the asset amnesty open until 31 July 2027 is read before the transfer, because a declared transfer arrives with a bank record and a statutory bar on audit. A strong file links every requested outcome to a document, so gaps are closed before filing rather than after a query from the authorities.

• Completed application form indicating the bank deposit investment route
• Passport and national identity document for the main applicant
• Spouse and children’s identity documents and passport photographs, where family members are included
• Documents proving family ties (marriage certificate; birth certificates for the children included; for a child who has come of age, the documents that prove dependency)
• Where relevant, divorce or death certificate establishing civil status
• Residence permit or valid visa issued to the investor
• Foreign Exchange Purchase Certificate (DAB) issued by the bank after the currency sale
• Certificate of conformity confirming the minimum investment requirement is met
• Source-of-funds evidence supporting the lawful origin of the deposited amount
• Payment receipts and supporting records for fees paid before the application

Foreign documents typically need certified translation and, depending on the issuing country, apostille or consular legalization. A power of attorney lets an investor complete most steps without staying in Turkey throughout.

Who is eligible and can family be included?

Any foreign national who lawfully deposits the qualifying amount, commits to the three-year hold, and passes the standard security and integrity checks is eligible, and the spouse and the children who are under 18 or dependent are included in the same application without an additional deposit (Article 12(b) of Law No. 5901; a child who has come of age joins as a dependant, on papers assembled before filing). This makes the deposit route efficient for families, because one qualifying investment covers the immediate household.

Eligibility turns on clean documentation as much as on the money. Applicants with prior immigration issues in Turkey, including past entry bans or deportation records, should resolve those matters first, because they can block or delay naturalization. Our teams in immigration and residence permits and deportation orders and exclusion orders handle these prerequisites where they arise.

What are the legal risks and how are they controlled?

The main risks are moving funds before legal review, an unclear source-of-funds explanation, bank documents that do not match application requirements, and family records prepared after the banking step rather than alongside it. Each of these is avoidable with the right sequence, and each can otherwise cause a query, a delay, or a refusal.

• Premature transfers. Capital that moves before the file is structured can fail to qualify or trigger source-of-funds questions. Review first, transfer second.
• Source-of-funds gaps. The lawful origin of the deposit must be documented coherently. Banks and authorities scrutinize this, and weak evidence is a leading cause of delay.
• Document mismatch. The DAB certificate, certificate of conformity, and application data must be internally consistent. Discrepancies invite queries.
• Currency and conversion rules. The mandatory sale to the Central Bank and conversion into Turkish Lira must be respected exactly; holding the amount in foreign cash does not satisfy the rule.
• The rule in force. The USD 500,000 deposit minimum has stood since Presidential Decision No. 5072 of 6 January 2022, which also required the sale of the currency to the Central Bank; a figure from before that date describes a rule that no longer applies.

Cross-border investors often run this route alongside other matters, from establishing companies in Turkey to real estate acquisition if they later decide to hold property as well. Coordinating these steps under one legal plan avoids conflicting timelines.

Is there currency protection on the three year lira deposit?

No. The qualifying amount sits in Turkish lira for three years and nothing in the citizenship regulation protects it against depreciation. YUVAM is an optional banking structure for eligible investors who need Turkish lira exposure management, and it is not the core citizenship requirement itself. The citizenship issue remains the 500,000 USD bank-deposit route, the 3-year holding commitment, the BDDK/BRSA conformity process, and a clean application file.

As of the 23 June 2025 TCMB YUVAM implementation instruction, YUVAM accounts are structured around 3-month, 6-month, and 12-month terms. A separate TCMB announcement on 23 August 2025 ended ordinary KKM account opening and renewal, while expressly excluding YUVAM accounts from that KKM termination. For citizenship planning, YUVAM should therefore sit below the main investment-requirement analysis and be reviewed bank-by-bank for availability, term, return, tax, and file compatibility.

My bank can only send roubles. Does that end the route?

No. A rouble transfer is a foreign currency transfer, and the Central Bank instruction of 16 May 2022 directs the Turkish bank to convert any currency outside the eligible four and sell it on to the Central Bank itself. What ends the route is a Turkish lira transfer, not an unfamiliar currency. If lira arrive there is no foreign currency left to sell, so the operation the regulation requires never happens, and converting those lira into dollars at a Turkish branch runs the chain backwards and creates nothing. Investors remitting from Russia and the CIS should fix the sending currency with their own bank before the instruction is given, not after the money has landed. The currency is rarely the obstacle; the channel can be. Whether the receiving Turkish bank accepts a transfer from a Russian citizen at all, and by which channel, is that bank’s answer, and as the answers above show, one branch would not take the investment amount by SWIFT. That question goes to the bank in writing before the flight or the transfer is planned.

Am I locked into the deposit for the full three years?

No. Paragraph 8 of Article 20 permits movement between the qualifying investment types while the three year period runs. An investor who begins in the deposit route and later prefers to hold property, fixed capital or fund units can transition rather than start again, provided the value and the continuity of the holding are documented at each step. This is the real answer to the lock-in question, and it is why the currency exposure on this route is a managed risk rather than a trap.

What interest will the deposit earn over three years?

Nobody can quote you a three year lira yield honestly, because no Turkish bank prices a three year lira deposit. Published deposit boards thin out sharply past the one year mark and are not quoted at all beyond two years, so in practice the qualifying amount is placed on a short term and rolled repeatedly at whatever rate applies on each renewal day. Treat any three year return figure you are shown by an agency as a projection, not a contract, and price the route on the citizenship rather than on the yield. Whatever the deposit earns, the bank withholds the tax on the interest at source, 25 per cent on a foreign-currency account and 17.5, 15 or 10 per cent on a lira account by maturity, and for a non-resident that withholding is the final Turkish tax; the rates and the decisions behind them are on the page on withholding tax in Turkey.

If the lira falls, will I be asked to top the deposit up?

No. Paragraph 6 of Article 20 fixes the monetary value at the Central Bank rate on the determination date. The amount is tested once, at that moment, and the regulation contains no continuing dollar equivalence test afterwards, so the citizenship right is fixed at the conversion date and survives later depreciation. What depreciation does affect is the purchasing power of the money returned to you at the end of three years. That is a commercial question rather than an eligibility one, and it is the single point on which the deposit route differs most sharply from the property route, where the asset re-rates with the currency.

Frequently asked questions

Can the deposit be withdrawn before three years?

No. The qualifying deposit stays blocked for at least three years under the investor’s own blocking instruction, and the bank confirms to the BDDK at the end of the period that it was kept without breach. A withdrawal breaks the condition the Certificate of Conformity rests on, so any move is made only between investment types under Article 20(8), documented at each step. After three years the funds are released and the citizenship stays.

In which currency must the deposit be made?

Foreign currency is brought in, then sold to the Central Bank through a bank operating in Turkey and converted into Turkish Lira, which is the amount that is blocked for three years. The bank issues a Foreign Exchange Purchase Certificate documenting the conversion. The lira is what is blocked, and it stays lira. Holding the qualifying amount in foreign cash, or converting it back after the sale, does not satisfy the rule.

Does the threshold change over time?

Yes. The minimum amount and conditions are fixed by regulation and have been amended in the past, including the 2022 changes requiring conversion to Turkish Lira. The minimum is measured at the Central Bank rate on the date the BDDK determines the deposit (Article 20(6)), and a later fall of the lira does not undo it.

Can I complete the process without living in Turkey?

In most cases, yes. A properly issued power of attorney and a clear document plan let a lawyer complete the banking, certification, and filing steps on your behalf, reducing the need for extended travel.

How much must I deposit for Turkish citizenship by bank deposit in 2026?

The bank deposit route currently requires at least USD 500,000, or its equivalent in eligible foreign currency, converted into Turkish Lira and held for three years in a BDDK/BRSA-licensed bank. The figure has stood since 6 January 2022 (Presidential Decision No. 5072).

Are my spouse and children included in the bank deposit route?

Yes. One qualifying deposit covers the immediate family: the spouse and the children who are under 18 or dependent are included in the same application without a second deposit, which makes the deposit route efficient for families.

Do I keep the interest earned on the blocked deposit?

Yes. The interest or return on the blocked funds belongs to you; only the principal must remain blocked for the three-year period, and it is released in full at the end of the holding term.

Is the 500,000 USD a fee paid to the Turkish government?

No. It is a returnable held position, not a state fee. The principal becomes free after the three-year commitment provided the file stays compliant; the real costs are bank, translation, filing, and legal-service charges.

Does bank deposit citizenship require giving up my current nationality?

No. Turkey permits dual citizenship, so you are not required to renounce your existing nationality to naturalize through the bank deposit route.

Before the transfer is instructed

The decision point on this route is before the money moves. Once the Central Bank has completed its purchase the sale cannot be canceled, so the bank, the sending currency, the source of funds file and the family records are settled first or they are not settled at all. Write to us on WhatsApp at +90 530 127 59 35 or at info@serkalaw.com; the sending bank, the currency you can actually remit in and the family on the file are the first three things we ask, because the Turkish bank that will take the funds is chosen on them.

WhatsApp +90 530 127 59 35 · Email info@serkalaw.com. The deposit is one of seven statutory routes, and if you are still working out which one you qualify under, start with how Turkish citizenship is actually granted.

This article provides general information on Turkish law and is not legal advice. No attorney-client relationship is formed by reading it; such a relationship arises only through a signed engagement with Serka Law Firm.