Citizenship by bank deposit

After the facilities granted by Turkey to foreigners, Turkey has become a destination for capital, whether for investment, or to achieve benefits from investment. Obtaining Turkish citizenship in several ways, including obtaining citizenship by bank deposit. In this article, we present to you everything related to obtaining citizenship by bank deposit.

After the new amendments on September 18, 2018, in obtaining Turkish citizenship through a bank deposit, obtaining Turkish citizenship was facilitated for foreign investors, as the deposit amount was reduced from 3 million dollars to 500 thousand dollars with the signing of a pledge not to withdraw the amount until the expiry of three consecutive years since Deposit date.

Steps to obtain citizenship through bank deposit in Turkey

There are steps that must be taken in order to apply for citizenship, and they can be identified as follows:

  1. Opening a bank account in the name of the applicant for Turkish citizenship in one of the banks operating in Turkey.

  2. Deposit an amount of at least $500,000 USD, or its equivalent in other currencies.

  3. Signing a statement of seizure of the amount for a period of three years.

  4. Obtaining a report from the Banking Regulation and Supervision Authority in Turkey in order to match the deposited amount to apply for Turkish citizenship, this takes about ten days.

  5. Apply for investor residence.

  6. Preparing the necessary papers for the file of the person with the family and submitting them to the Soul Department in Turkey.

After that, she waits for a letter from the Soul Department in Turkey to follow up on the file of obtaining citizenship in Turkey and to conduct the necessary interviews or provide the required papers or documents.

After the stages of studying your file, the Department of Souls sends a message that you have obtained citizenship

Documents required applying for Turkish citizenship via bank deposit

  1. Passport / or temporary residence card for Syrians for all family members

  2. A translated and certified copy of the notary passport for all family members

  3. 4 personal photos, size 5 * 6, for each family member separately

  4. Copies and attested by the Qa’im Maqam for the birth certificates of all family members.

  5. A certified copy of the Qaim Maqam of the marriage contract

  6. For birth certificates and marriage contracts, if they are issued by Turkish departments, it is sufficient

Attestation by the Qaim is done. If it was issued outside Turkey, the following should be done:

  1. Attestation by your country’s embassy in Ankara or one of its consulates in Turkey

  2. Translation of documents after attestation by the embassy or consulate

  3. Authentication of documents in a notary in Turkey

  4. After that, the documents are submitted to the District Commissioner to be certified as well, and they are ready to be added to your file.

Expected Duration of Obtaining Citizenship:

The validity of the citizenship application process through a bank deposit is linked to the submitted papers, as the information and documents submitted in the citizenship applications must not be incomplete. If the information and documents are complete, citizenship usually does not take long, up to two months from the date of submitting the application.

As for the profits granted by the Islamic bank against the deposited amount, Islamic banks offer financial profits estimated at 17% if the amount is deposited in Turkish lira, but if the amount is deposited in US dollars, the percentage of profits does not exceed 3%, and these percentages vary according to the concerned bank.

Finally, Acuad Company offers you advice, which is to hire a lawyer to help you submit the file and not to make mistakes that may affect the progress of your file.

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