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In this article, we write about obtaining citizenship of Turkey through depositing 500.000 USD or equivalent foreign currency to a bank operating in Turkey. You can also check other articles of us about ways of obtaining Turkish Citizenship[1] .
Money deposit is one of the easiest and profitable ways to obtain citizenship. You can have your Turkish Citizenship just by depositing money and holding it for three years in a bank operating in Turkey.
In this option, person willing to acquire Turkish Citizenship shall deposit at least 500.000 USD or equivalent foreign currency and must not withdraw it for 3 years. The currency amount needed to acquire Citizenship must be sold to a bank to be sold to Central Bank of Republic of Turkey. The money will be converted to Turkish Lira after the sale to Central Bank. This currency transactions only available for certain currencies that used by Central Bank in exchange. These currencies can be found on the website of Central Bank in Indicative exchange rates tab. However, the banks only sell the currency to the Central Bank as Pound, USD, or Euro. Other currencies are converted to these three currencies by the prior day’s rates before selling to Central Bank. So, it is better to do this process with these mentioned currencies.
The bank that the person sold the money and the bank that the person holds the money must be the same bank and person should apply to the Ministry of Treasury and Finance for the certificate of eligibility.
Following the Certificate of Eligibility, an application for resident permit shall be done to Provincial Directorate of Immigration Administration, with the documents required.
As last stage after having the permit, person should apply for citizenship to Provincial Directorate of Census and Citizenship.
After decision of ministry, foreign finally can have citizenship.
Our law office takes place in Fatih province of Istanbul, where all these procedures are running. As experienced attorneys, we can run these procedures for you fully, professionally and fast since we are in the heart of all process.
However, the information provided in this article is general and does not constitute financial, tax or legal advice. The editors and authors accept no responsibility for any inaccuracies or omissions contained herein. If you seek legal advice, we are always pleased if you contact us.