Our Turkey citizenship lawyers are prepared to assist you in opening a bank account at a Turkish bank to deposit 500,000 USD to apply for Turkey Citizenship by bank deposit.
We do perform Turkey citizenship by bank deposit options. We have extensive experience in immigration law in Turkey and we have obtained more than 560 passports currently, we have 60+ pending applications.
We have successfully represented clients from Iran, Palestine, Jordan, Lebanon, Morocco, Egypt, Tunis, Pakistan, Bangladesh, Hong Kong, Macao, China (we obtained more than 100 passports for Chinese), Djibouti, India, Russia, France, Romania, Algeria, Saint Kitts and Nevis, South Africa, South Korea, Vanuatu, and the USA and we know how to get required paperwork done in each country.
All Details About Turkey Citizenship by Bank Deposit
Our Turkish citizenship lawyers perform legal services for making an investment and getting a conformity certificate for the investment to apply for Turkish citizenship. Once the investment step is completed, we will apply for residency for the main applicant. After that, we will prepare a Turkish citizenship file for the main applicant and his/her spouse and kids.
Generally, it takes 3 to 4 months to get a citizenship application accepted. We did not have any refusals so far. We got our last application accepted in 75 days. Once your application is accepted, you can apply for a Turkish ID card and passport and get your fingerprints at the Turkish Embassy in your country, you don’t have to come to Turkey at all.
However, if you like to come and get it done in Istanbul one of our English-speaking Turkish lawyers will help you to get fingerprints and apply for a Turkish ID card and passport. Turkish passport and ID card will be mailed to our office address.
Legal Grounds for Turkey Citizenship by Bank Deposit
Turkish Citizenship Law’s Article 12 allows foreign investors to acquire Turkish citizenship in exceptional terms; with 18.09.2018 dated 106 numbered Presidential Decree, amendatory new arrangements have been made regarding the amounts mentioned in Article 20 of the Regulation on the Implementation of the aforementioned Law.
In line with the recent regulatory amendments, foreigners who satisfy at least one (1) of the below criteria will be granted citizenship subject to the approval of the Council of Ministers:
- Purchase of a real estate property in Turkey with a minimum value of $400,000,
- A fixed capital investment of a minimum of $500,000 in a Turkish corporate entity
- Generate employment for at least 50 individuals in Turkey
- Deposit a minimum of $500,000 to banks that operate in Turkey
- Purchase a minimum of $500,000 public borrowing vehicles from Turkey
- Purchase a minimum of $500,000 of Turkish real estate participation fund shares
Turkey Citizenship by Bank Deposit
The second most common way to apply for Turkish citizenship by investment is to deposit 500,000 USD in a Turkish bank account. Our Turkish citizenship lawyers will assist you to open a bank account in your presence. We generally open bank accounts with a Power of Attorney (PoA) given to us by our clients. Some of our clients give us PoA in their own country either at the Turkish Embassy or local notary and apostille.
A PoA can be given in a way called double legalization in some countries like China. In this way, a PoA is prepared by a local notary and attested by the Foreign Ministry of that country and after that, it is attested by the Turkish Embassy.
Once your funds are transferred into your Turkish bank account or you can deposit money in cash as well. Your money must be converted to Turkish Lira (TL) and can be invested in TL interest-bearing accounts or Turkish Government Bonds for 3 years.
It used to be possible to keep your investment in foreign currency but it was changed recently. Please review the Presidential Decree showing the change. We assist you to open a newly introduced bank account called “Yuvam” and you can get dollar protection plus a %8 yield on your investment for 2 years.
In order to be eligible for Turkish citizenship by investment, one must invest at least 500.000 US Dollars converted into Turkish Lira and make a commitment to hold the funds for three years at banks operating in Turkey.
Reach us for Turkey Citizenship by Bank Deposit
Akkas & Associates is a solution-oriented Turkish law firm that empowers clients to meet the diverse and changing demands of today’s citizenship with investment law. Since 1992, our lawyers have been helping clients with complex legal challenges and maximizing opportunities for success.
Our law firm is now one of the leading Turkey Citizenship law firms in Istanbul, Turkey. You may reach us for Turkey Citizenship by Bank Deposit through our Contact page.