Depositing $500,000 in a Turkish bank and leaving it there for three years qualifies you for Turkish citizenship by bank deposit, one of the four routes available under Turkey’s Citizenship by Investment program. The deposit earns interest throughout the holding period, and you recover the full principal when the three years are complete. Your spouse and children under 18 are included in the same application at no additional investment required.
This guide covers how the route works, what the Turkish authorities require, the full step-by-step process, and what realistic timelines look like so you can plan with confidence.
How Turkish Citizenship by Bank Deposit Works
Turkey’s Citizenship by Investment program was introduced in 2017. The bank deposit route requires you to place a minimum of $500,000 in US dollars, euros, or British pounds in a bank regulated by Turkey’s Banking Regulation and Supervision Agency (BDDK). The foreign currency amount is converted into Turkish lira at the Turkish Central Bank exchange rate on the date of deposit, and the lira equivalent is blocked for three years. The bank issues a blocking certificate confirming the arrangement.
That blocking certificate is the central document of your application. The Banking Regulation and Supervision Agency (BDDK) issues the investment conformity paper confirming that your deposit meets the program criteria. The Directorate General of Migration Management (DGMM) then handles the citizenship application itself, and the Presidency of the Republic issues the final naturalisation decree. At every stage, the authorities review your financial commitment, your personal documents, and your background before citizenship is granted.
Who Can Apply for This Route?
Any foreign national who meets the financial threshold and source-of-funds requirements can apply. Turkey places no blanket restrictions based on nationality, though citizens of a small number of countries may face additional scrutiny depending on Turkey’s current diplomatic and regulatory position. Gordion Partners can advise you on whether your nationality presents any particular considerations before you commit funds to a Turkish bank.
Your spouse and unmarried children under 18 are included in your application without any additional investment. Turkey does not require you to renounce your existing citizenship, so many applicants hold both their original passport and a Turkish one. Whether your home country permits dual citizenship is a separate question you should verify with the relevant authorities before you apply.
The Minimum Deposit Amount and Eligible Currencies
The minimum deposit is $500,000 (as of the time this article is written). The deposit must be made in US dollars, euros, or British pounds. Turkish lira is not an accepted currency for this route. The foreign currency amount is converted into Turkish lira at the official Turkish Central Bank exchange rate on the date of deposit, and the lira equivalent is blocked for the three-year holding period. The threshold is set by regulation and can change, so confirm the current figure with your advisor before you transfer any funds.
Turkish banks are required to carry out anti-money-laundering checks before issuing a blocking certificate. You must provide documentation showing the legitimate origin of your funds. Bank statements covering recent months, proceeds from the sale of property or business assets, dividend records, and inheritance documentation are among the materials commonly requested. The bank may ask for additional documents depending on the structure and origin of the funds.
Step by Step: Applying for Turkish Citizenship by Bank Deposit
The application follows a defined sequence. Completing each step correctly the first time avoids unnecessary delays.
- Open a Turkish bank account. Some banks allow non-residents to open accounts remotely or through a representative; others require a short in-person visit. Gordion Partners can introduce you to banking partners that work efficiently with foreign investors.
- Transfer the deposit and obtain the blocking certificate. Transfer the full $500,000 (or equivalent) into your Turkish bank account. The bank blocks the funds for three years and issues a formal blocking certificate confirming the commitment.
- Collect and authenticate your documents. Gather your passport, birth certificate, marriage certificate (if applicable), children’s birth certificates, and source-of-funds documentation. Foreign documents must be apostilled and translated into Turkish by a sworn translator in Turkey.
- Apply for the investment conformity paper from BDDK. The blocking certificate and supporting documents go to the Banking Regulation and Supervision Agency, which issues the conformity paper confirming that your deposit qualifies under the program.
- Apply for a short-term residence permit. A valid Turkish residence permit is required at the time of the citizenship application. This step is typically handled in parallel with the conformity application.
- Submit the citizenship application to DGMM. The full document package is submitted to the Directorate General of Migration Management. Security and background checks are carried out at this stage.
- Complete biometric registration. Fingerprints and a photograph are collected at a DGMM office in Turkey.
- Receive the naturalisation decree and collect your passport. The Presidency of the Republic signs the decree. You then apply for your Turkish passport and national identity card.
Documents Required for Your Application
The precise list of Turkey citizenship by investment documents varies by nationality and personal circumstances. The standard requirements are:
- Valid passport with a notarised Turkish translation
- Birth certificate (apostilled, with notarised Turkish translation)
- Marriage certificate, if applicable (apostilled, with notarised Turkish translation)
- Birth certificates for each child included in the application
- Blocking certificate from the Turkish bank confirming the $500,000 bank deposit in Turkey held for three years
- Bank statements and source-of-funds documentation
- Proof of residential address in your home country
- Biometric photographs to Turkish government specifications
- Completed DGMM application forms
- Short-term residence permit or a simultaneous application for one
Gordion Partners coordinates the translation and notarisation of your documents. We work with sworn translators in Istanbul and can advise on the apostille process in your home country, so your document package arrives complete and correctly formatted for the Turkish authorities.
How Long Does the Application Take?
From the date a complete application is submitted to DGMM, the authorities typically process it within three to six months, as of the time this article is written. Preparing the bank account, arranging the blocking certificate, collecting apostilled documents, and receiving the certificate of conformity adds several weeks before the formal submission begins. Most applicants receive their naturalisation decree within four to eight months of first opening their Turkish bank account.
Processing times depend on application volumes and can change throughout the year. Your advisor will give you a current, realistic estimate when you begin. Submitting a complete and correctly organised application at the first attempt is the most reliable way to avoid unnecessary delays.
Turkish Citizenship Investment Routes Compared
Turkey’s Citizenship by Investment program offers four qualifying routes. The table below summarises each option, with figures as of the time this article was written. Turkish citizenship investment requirements and thresholds are set by government regulation and can be revised, so always confirm the current conditions with your advisor.
| Route | Minimum Amount | Holding Period | Key Points |
|---|---|---|---|
| Real estate purchase | $400,000 | 3 years | Property value must be certified by a licensed appraiser; property cannot be sold during the holding period |
| Bank deposit | $500,000 | 3 years | Funds earn interest throughout; full principal returned after 3 years |
| Government bonds | $500,000 | 3 years | Turkish Treasury bonds held via a bank or licensed intermediary |
| Fixed capital investment | $500,000 | Ongoing | Confirmed by the Ministry of Industry and Technology |
Benefits of Turkish Citizenship
Turkish citizenship gives you the right to live, work, and own property in Turkey without a residence permit or work permit. The Turkish passport currently provides visa-free or visa-on-arrival access to over 110 countries, including Japan, South Korea, Singapore, and much of the Caribbean, and Turkey continues to negotiate additional travel agreements.
For investors, Turkey sits at the crossroads of Europe, Asia, and the Middle East, with a large domestic market, a young working-age population, and a growing economy. Turkish citizens have access to public healthcare and education. Children born in Turkey to Turkish parents are automatically Turkish citizens.
There is also a practical financial advantage to the bank deposit route. Your $500,000 continues to work during the holding period, earning interest or profit-sharing returns depending on the account type you choose. After three years, you withdraw the principal in full. The cost of citizenship through this route is the opportunity cost of three years of funds held in a Turkish bank, not the loss of the invested capital itself.
Gordion Partners has guided foreign investors through the Turkish citizenship by bank deposit application process since 2020. Our advisors are based in central Istanbul and work in English, French, Turkish, Chinese, and Russian. We manage every stage: banking introductions, document preparation and translation, application submission, and follow-up with the Turkish authorities on your behalf. We are an advisory and consulting firm. Our advisors communicate clearly in English throughout the process, and you can reach us at any point with questions.
Contact us for more information about starting your Turkish citizenship application through the bank deposit route.
Frequently Asked Questions
Can I make the deposit in a currency other than US dollars?
Yes, but the accepted foreign currencies are limited to US dollars, euros, and British pounds. Turkish lira is not accepted for the bank deposit citizenship route. If you deposit in euros or British pounds, the equivalent amount is calculated at the Turkish Central Bank exchange rate on the deposit date, and the full sum is held in Turkish lira for three years.
Do I need to travel to Turkey to open the bank account?
Some Turkish banks allow non-residents to open accounts remotely or through their overseas offices. Others require a short in-person visit. Biometric registration with the DGMM also requires your presence in Turkey. Gordion Partners will advise you on which steps need an in-person visit and help you plan a single efficient trip to Istanbul to cover all requirements at once.
Are my spouse and children included in the application?
Yes. Your spouse and children under 18 are included in your Turkish citizenship application automatically, with no additional investment. They receive Turkish citizenship at the same time as you, under the same naturalisation decree. You do not need to file a separate application or make a separate investment for family members.
Do I have to give up my current citizenship?
Turkey does not require you to renounce your existing citizenship. Whether dual citizenship is permitted depends on the laws of your home country. Some countries allow it freely; others restrict it or require formal notification. You should confirm your home country’s position before applying, as receiving Turkish citizenship cannot be undone.
What happens to my $500,000 after three years?
Once the three-year holding period is complete and your citizenship has been granted, you are free to withdraw the full principal from your Turkish bank account. The deposit also earns interest or profit-sharing returns throughout the holding period. The $500,000 is a temporary financial commitment, not a fee: you do not lose the invested capital.
Can the government raise the threshold after I have made my deposit?
Yes, the Turkish government can and does adjust investment thresholds over time. However, once BDDK has issued your investment conformity paper confirming that your deposit qualifies, a subsequent increase in the threshold does not affect your application. Eligibility is assessed at the time the conformity paper is issued, which is why it is important to submit a complete application promptly after the deposit is in place.
Is the deposit protected if the bank encounters difficulties?
Turkish bank deposits are covered by the Savings Deposit Insurance Fund (TMSF) up to a prescribed limit, which as of this writing is 1,500,000 Turkish lira per depositor per bank. For a deposit of $500,000, that insurance covers only a portion of the total amount. Gordion Partners can advise you on the financial standing of Turkish banks so you can choose an institution that suits your risk profile.
Disclaimer: This article is for general informational purposes only and you are strongly advised to consult a professional to evaluate your personal situation. No liability is accepted that may arise from the use of the information in this article.
