Akkas & Associates Law Firm is a globally recognized Turkish citizenship law firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our Turkish Citizenship by Bank Deposit lawyers are prepared to handle bank account deposits to apply for Turkish citizenship with Investment. Our investment for Turkish citizenship practice includes; buying, leasing, and selling residential and commercial properties to both domestic and foreign customers in Turkey. Our Turkish real estate lawyers also represent our clients in real property acquisition, we prepare real estate sale contracts or amend the contracts that are prepared by the developers. We also represent our clients throughout Turkish citizenship application process until they get their Turkish passport.
Our Turkish Citizenship Lawyers do perform Turkish citizenship services with investment options. We have extensive experience in immigration law in Turkey and we have obtained more than 400 passports. We have successfully represented clients from Iran, Palestine, Jordan, Lebanon, Morocco, Egypt, Tunis, Libya, Pakistan, Bangladesh, India, Hong Kong, Macao, China, Djibouti, Macedonia, USA and we know how to get required paperwork done in each country.
Our Turkish Citizenship with Bank Deposit 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 Turkish citizenship file for the main applicant and his/her spouse and kids.
Generally, it takes 3-4 months to get a citizenship application accepted. We did not have any refusals so far. We got our last application accepted in 85 days. Once your application is accepted, you can apply for Turkish ID card and passport and get your fingerprints at 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 the you to get fingerprints and apply for Turkish ID card and passport. Turkish passport and ID card will be mailed to our office address.
Turkish Citizenship by Bank Deposit
Our attorneys will help you to open a bank account. We generally open bank accounts with a Power of Attorney (PoA) given to us by our clients. Some of our client give us PoA in their own country either at Turkish Embassy or local notary and apsotille. 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 Turkish Embassy.
In order to be eligible for bank deposit option, one must invest at least 500.000 US Dollars or its equivalent foreign currency or equivalent of Turkish Lira and make commitment to hold the amount of deposits for three years at banks operating in Turkey and for whom a certificate of conformity is issued by the Banking Regulation and Supervision Agency.
Our Bank Deposit Services Includes Following Matters;
- Passport translation and notarization
- Obtaining tax id number for client
- Opening bank account
- Arrange bank deposit
- Prepare documents to be signed by the Client.
- Follow up our paperwork with BBDK.
Our Turkish Citizenship Application Shall Consist of All Following Matters;
- Prepare residency application documents for Client, his wife and children.
- Prepare citizenship application documents for Client, his wife and children.
- Follow up application until the Turkish passports given.
Below Citizenship Services are Also Included in Our Fees:
- Getting the documents translated and notarized.
- Applying for the Turkish Tax Id Number.
- Assistance for opening a bank account in Turkey.
Additionally, we have extensive experience on resident permit and immigration & citizenship services for foreign citizens.
Nowadays, there is huge demand for Turkish citizenship via the route of the USD 250,000 property investment law. Our attorneys will help from real estate purchase until you get Turkish citizenship.
Details on Turkish Citizenship by Bank Deposit
Obtaining conformity certificate from Banking Regulation and Supervision Agency for depositing a minimum of $500.000 or equivalent foreign currency or equivalent amount of Turkish Lira to banks that operate in Turkey [prior to the amendment such amount was $3,000,000] with the condition to keep such deposit in the relevant bank for at least three years.
Foreigners should deposit a minimum of $500,000 or equivalent amount in foreign currency or Turkish Liras to banks that operate in Turkey with the condition to keep such deposit at such bank for at least three years. The amount should be convertible and should be equivalent to $500,000.
It’s not required that such amount should be deposited to only one single bank that operates in Turkey. In this context, foreigner may deposit the money more than one bank operating in Turkey with the condition to keep such deposit at such bank for at least three years and the total deposited amounts should be equal to $500,000.
It’s essential to deposit such amount to banks that operate in Turkey. Therefore, it is not possible to assume an amount as convenient for the Turkish citizenship application which is deposited to a bank in abroad even if it is a branch office or association of Turkish Bank.
Foreigner shall also apply for Turkish citizenship based on a joint account (with his/her spouse or any other person) provided that joint account holder(s) other than the applicant has an express consent that they keep such deposit at bank for at least three years.
It is possible to change the currency or type of investment which is mentioned in Regulation (such as purchasing a real estate investment fund share and capital investment trusts fund share with a minimum value of $500.000). However, in case of shifting the amount to another investment type, such process should be instantaneous and there should not be any interruption for three years period. Otherwise, the BRSA shall promptly inform the Ministry of Internal Affairs regarding such interruption.
Please also note that in such three-year period, a foreigner may benefit from the interest, dividend and similar returns arising from the deposited amount pursuant to executed contracts with banks and type of the bank account provided that the deposited amount shall not fall below the amount of $500.000.
In the event that a currency other than the U.S. Dollar is deposited in the banks, the U.S. Dollar equivalent at the date of the opening of the account shall be determined and the deposited amount shall be expected to remain in the banks at the same rate determined for three years. Therefore, potential alterations on exchange rates shall not be considered.
The amount which deposited in a Turkish bank will be blocked for three years with applicant’s request. However, this is not a blockade that makes the amount cannot be withdrawn by the holder of the bank account. As soon as the amount withdrawn by the account holder or it is fallen under 500.000 USD, the bank will report the situation to the BRSA and the BRSA will immediately inform the Ministry of Internal Affairs for initiation the cancelling process for Turkish citizenship.
If this occurred once, new application will not be considered as an on-going time span [three year period]. Since the amount can be withdrawn by the applicant, there should not be any restriction on the deposit account such as a sequestration or any other legal limitations. If there occur any restriction, circumstance will be announced to Ministry of Internal Affairs.
Reach us for Turkish Citizenship by Bank Deposit
Akkas & Associates is a solution-oriented 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’ complex legal challenges and maximize opportunities for success. Our law firm is now one of the leading Turkish Citizenship law firms in Istanbul, Turkey. You may reach us for Turkish Citizenship by Bank Deposit through our Contact page.