Turkish Citizenship Through $500,000 Bank Deposit: Complete Guide 2025

1. Introduction

In recent years, Turkish citizenship by investment has emerged as one of the most accessible and attractive options for global investors seeking a second passport. Among the various investment routes available, the $500,000 bank deposit stands out for its simplicity, security, and low-risk nature. This option has been increasingly favored by individuals who want to secure citizenship without engaging in real estate management or business operations.

Turkey is uniquely positioned as a bridge between East and West, offering not only cultural richness and strategic geopolitical access but also a stable legal framework for foreign investors. Unlike many other countries that require long-term residency, language proficiency, or cultural integration, Turkey offers a fast-track to citizenship through financial contribution alone.

The bank deposit method doesn’t require you to purchase a property or set up a company. You simply deposit $500,000 in a Turkish bank for a three-year term—and in return, you and your immediate family can obtain Turkish citizenship. This route is not just appealing because of its simplicity, but also because the funds remain under your ownership and can earn interest over the three-year period.

In this comprehensive guide, we’ll walk you through everything you need to know about Turkish citizenship through bank deposit—from the legal foundations to the benefits, process, documentation, and expert tips. Whether you're a businessperson looking for visa-free travel, a family seeking stability, or a retiree planning your next chapter, this article will serve as your go-to resource.

So, is depositing money in a Turkish bank really all it takes to gain citizenship? Let's explore this unique opportunity in detail.

2. What Is Turkish Citizenship by Investment?

Turkey's Citizenship by Investment (CBI) program was officially introduced in 2017 to attract foreign capital, stimulate real estate development, and boost the national economy. The program allows foreigners to acquire full Turkish citizenship by making qualifying investments in Turkey. Over time, the CBI program has evolved and diversified into several investment options, including real estate, job creation, capital investment, and bank deposit.

Among these options, the bank deposit route is considered the least complex and most secure. Unlike real estate, which involves market speculation and legal procedures, or job creation, which demands ongoing management and oversight, the bank deposit method is passive. You place your money in a bank, earn some interest, and apply for citizenship—it’s as straightforward as that.

The threshold for this method is a minimum deposit of $500,000 or its equivalent in Turkish Lira, Euro, or British Pounds. The deposit must be maintained in a Turkish bank for at least three years. What makes this investment particularly appealing is that you don’t lose access to your money—it simply sits in your account, potentially generating interest while fulfilling the legal requirement.

Thousands of investors have already obtained citizenship through this method. It’s particularly popular among high-net-worth individuals from the Middle East, South Asia, Africa, and even some Western countries who are looking for visa flexibility, economic opportunities, and an affordable second passport. If you're looking for a hands-off way to secure Turkish nationality without day-to-day involvement, this is arguably the most efficient option available today.

3. Understanding the $500,000 Bank Deposit Route

The $500,000 bank deposit method is governed by Turkish regulations that are clear, investor-friendly, and regularly updated to maintain transparency. The route requires a minimum deposit of $500,000 or equivalent in a recognized foreign currency—USD, EUR, GBP—or Turkish Lira. The money must be deposited in a Turkish bank that is regulated by the Banking Regulation and Supervision Agency (BDDK), and it must remain untouched for a minimum period of three years.

The process begins with opening a Turkish bank account, which requires a valid passport, a Turkish Tax Identification Number, and proof of address. Once the account is active, you can wire the funds from abroad. After the money is successfully deposited, the bank applies to BDDK on your behalf for a Certificate of Conformity. This document officially states that your deposit meets the requirements for citizenship application.

What makes this path so attractive is that the deposit stays under your name and control—it is not a donation, and the capital is not at risk. You can choose whether the deposit earns interest or not, depending on the type of account you select. Most investors opt for foreign currency accounts that offer moderate but stable interest rates. Also, you’re free to convert the money into another currency within the bank if needed.

The Certificate of Conformity is usually issued within a few weeks. Once it’s in hand, you can begin the formal process of applying for citizenship, which includes obtaining a temporary residence permit and submitting your application to the Directorate General of Migration Management.

4. Benefits of Acquiring Turkish Citizenship

There’s no shortage of reasons why Turkish citizenship is a highly desirable asset. From increased global mobility to favorable tax treatment, the benefits extend far beyond just holding a second passport. Let’s explore some of the most compelling advantages:

1. Visa-Free Travel: Turkish passport holders can travel to over 110 countries without a visa or with visa-on-arrival privileges, including Japan, South Korea, Brazil, and most of South America. While Turkey is not part of the EU, efforts are underway to strengthen visa-free access to Schengen countries in the future. For a deeper understanding of this, you can read more about the power of the Turkish passport.

2. Dual Citizenship: Turkey allows dual and even multiple citizenships. This means you can keep your original nationality while enjoying the benefits of being a Turkish citizen.

3. Family Inclusion: Your spouse and children under the age of 18 automatically qualify for citizenship without the need for additional investment.

4. Economic Opportunities: Turkey is a G20 economy with strong sectors in tourism, agriculture, construction, and technology. As a citizen, you can own land, run a business, and invest freely.

5. Pathway to U.S. E-2 Visa: Since Turkey has an E-2 Treaty with the United States, Turkish citizens can apply for a U.S. E-2 Investor Visa, offering a legal path to live and work in America.

6. Safe Investment: Unlike real estate or stock market investments, the bank deposit option allows you to hold your money in a low-risk environment while still qualifying for citizenship.

Still wondering what makes this offer so special? Here's an in-depth look at the key advantages of Turkish citizenship.

5. Who Can Apply for Turkish Citizenship by Bank Deposit?

The Turkish citizenship program is remarkably inclusive, allowing individuals from almost every country to apply, regardless of nationality or religion. The primary requirement is that applicants must have clean legal records and be able to prove the legal source of their funds. As long as your investment complies with Turkish law and financial regulations, your application is likely to be accepted.

This route is especially attractive for individuals from countries where passports have limited mobility—like Afghanistan, Iraq, Pakistan, and many African nations—because Turkish citizenship drastically improves international travel options. At the same time, it’s gaining popularity among Western investors who are looking for affordable and efficient second citizenship programs.

Importantly, the citizenship extends to your spouse and all children under the age of 18. They do not need to make any additional investment or fulfill separate requirements. For children born after you obtain Turkish citizenship, they automatically become citizens by descent. Adult children over 18, however, must apply separately and may need to make their own investment.

One of the strongest appeals of this program is the absence of any residency or language requirements. You do not need to speak Turkish, live in Turkey, or even visit regularly to maintain your citizenship status. It’s entirely passive—just deposit your money and let the process run its course.

6. Step-by-Step Application Process for Citizenship

While the $500,000 bank deposit method might sound complex, the actual process is straightforward and well-structured. Turkey has refined this system to ensure that foreign investors can navigate it with ease. Here’s a detailed breakdown of the application steps, from start to finish:

Step 1: Obtain a Turkish Tax ID Number
Before doing anything else, you need to get a Turkish tax number. This is a simple process that can be done at a local tax office or online. All you need is a copy of your passport. This number will be necessary for opening a bank account and completing all legal formalities.

Step 2: Open a Bank Account in Turkey
Once you have your tax number, the next step is to open a bank account with a licensed Turkish bank. Most banks offer services in English and are experienced with foreign clients. You'll need your passport, proof of address, and tax number. Here's a helpful step-by-step guide on opening a bank account in Turkey.

Step 3: Make the $500,000 Deposit
Transfer the funds into your new account. The bank will lock the deposit for a period of three years. You can choose the currency—USD, EUR, GBP, or TRY—and whether you want to earn interest.

Step 4: Request the Certificate of Conformity
After the deposit is made, the bank applies to the Banking Regulation and Supervision Agency (BDDK) for a Certificate of Conformity. This confirms that your deposit qualifies for the citizenship program.

Step 5: Apply for a Residence Permit
Before applying for citizenship, you must obtain a short-term residence permit, even if you don’t plan to live in Turkey.

Step 6: Apply for Citizenship
With all documents in hand, you can submit your citizenship application. If you work with a legal representative, they can manage the process for you.

The entire process takes approximately three to six months from deposit to passport.

7. Required Documents and Legal Criteria

To ensure your Turkish citizenship application goes smoothly, it’s essential to prepare the correct documents. Turkish authorities are strict when it comes to paperwork, so even small errors or omissions can lead to delays. Here’s a comprehensive list of what you’ll need:

Personal Documents:

Valid passport (translated into Turkish and notarized)

Four biometric photos (white background, ICAO standard)

Proof of address (such as a recent utility bill or bank statement)

Marriage certificate (translated and notarized, if applicable)

Birth certificates for all children applying

Financial Documents:

Bank deposit confirmation statement

Letter from the bank confirming the three-year term

Certificate of Conformity from the BDDK

Legal Documents:

Turkish Tax Identification Number certificate

Application form for short-term residence permit

Citizenship application form

Power of attorney (if using a legal representative)

Clean criminal record from your home country or current country of residence

It’s crucial that all foreign documents are translated into Turkish and notarized. Some documents may also require an apostille stamp, depending on your home country.

Eligibility Criteria:

Funds must be legally sourced and traceable

No criminal background or involvement in money laundering

Applicant must not be from a sanctioned country

Applicant must be over 18 years old (main investor)

Preparing a complete and correct file greatly increases your chances of fast approval.

8. Costs and Additional Fees

Although the $500,000 bank deposit is the headline investment, there are several additional costs you should account for. These costs can vary depending on whether you use legal assistance, the number of family members included, and the banks you choose to work with.

Government and Administrative Fees:

Citizenship application fee: ~$1,000

Residence permit fees: ~$200–$300 per applicant

Passport issuance: ~$250 for a 10-year passport

Legal and Consulting Fees (Optional):

If you choose to work with a legal firm to manage your application:

Lawyer fees: $3,000–$7,000

Translation and notarization: ~$500–$1,000

Apostille services (if needed): ~$100–$200 per document

Banking-Related Costs:

Transfer charges from your international bank

Currency exchange fees (if converting to TRY)

Account maintenance fees (minimal or waived in most banks)

Additional Services:

VIP processing or expedited handling (optional)

Real estate consultation (if considering alternative investments later)

All in all, you should budget an additional $5,000 to $10,000 above the deposit amount for a smooth, hassle-free application process.

9. Turkish Banking System: What You Should Know

Turkey’s banking system is modern, well-regulated, and designed to accommodate foreign investors. The sector is overseen by the Banking Regulation and Supervision Agency (BDDK), which ensures transparency and protects depositors.

Top Banks in Turkey for Foreigners:

Ziraat Bankası (State-owned, reliable)

Halkbank (State-owned, offers English support)

İşbank (Largest private bank)

Garanti BBVA (International presence)

Yapı Kredi (Known for digital banking)

Most banks offer a range of account types, from high-yield TRY accounts to stable USD and EUR deposits. Foreigners can choose accounts that offer fixed interest, flexible term lengths, and online banking access.

Interest Rates and Currency Choices:

TRY deposits offer high interest (up to 30%), but carry currency risk

USD and EUR deposits offer stable, modest returns (~2-3%)

You can choose a non-interest-bearing account if preferred

Security and Regulation:

All deposits are insured up to 400,000 TRY by the Savings Deposit Insurance Fund (TMSF)

Banks comply with strict anti-money laundering (AML) laws

You can move your funds within the bank but not withdraw them for 3 years

Turkey’s banking system is especially friendly to international investors and expats. Whether you want a high-interest account or a stable-dollar deposit, the infrastructure is in place to support your needs.

10. Comparison: Bank Deposit vs. Real Estate Investment

Both bank deposit and real estate are popular investment routes to Turkish citizenship, but they serve different investor profiles. Let’s compare them side by side:

The bank deposit is ideal for those who want to "set it and forget it," while real estate may appeal to those who want to leverage property appreciation and are comfortable managing assets.

ممتاز، نتابع مع المرحلة الثالثة من المقال، الأقسام من 11 إلى 15، مع التزام الطول المطلوب لكل قسم.

11. Tax Implications for Turkish Citizens and Investors

Turkey’s tax system is generally considered favorable for foreign investors and new citizens, especially those who do not intend to reside permanently. Understanding tax obligations is crucial to making the most of your new citizenship.

Tax Residency

You become a Turkish tax resident if you stay in the country for more than 183 days in a calendar year or if Turkey is your center of vital interests. Residents are taxed on their worldwide income, while non-residents pay tax only on Turkish-sourced income.

Income Tax

Personal income tax rates are progressive, ranging from 15% to 40%. However, if you do not reside in Turkey and your income is generated abroad, you are typically not taxed on it by Turkish authorities.

Interest Income

Interest earned from your $500,000 deposit is subject to withholding tax. For deposits in foreign currencies like USD or EUR, the withholding tax rate is about 13%, and for Turkish Lira deposits, it ranges between 5% and 15%. The tax is automatically deducted by the bank, simplifying compliance.

Capital Gains Tax

Capital gains tax applies to profits from selling property within five years of purchase, but since the bank deposit method does not involve real estate, this is not a direct concern.

Inheritance and Gift Tax

Turkey imposes inheritance and gift taxes, but these rates are relatively low (1% to 10%) and progressive. This is beneficial for estate planning, especially for families holding Turkish citizenship.

Double Taxation Treaties

Turkey has agreements with over 80 countries to prevent double taxation, which means you won’t be taxed twice on the same income if you reside elsewhere.

In summary, Turkish citizenship offers a tax-efficient structure, particularly beneficial if you organize your global income effectively.

12. Turkish Citizenship for Children and Future Generations

One of the most valuable aspects of Turkish citizenship is its inclusivity for families and future generations.

Children Under 18

When you apply, your spouse and children under 18 automatically receive citizenship without additional investment. They enjoy the same rights, including access to public education and healthcare.

Children Born After Citizenship

Any child born after you have acquired Turkish citizenship automatically becomes a citizen, regardless of birthplace. This offers a generational advantage that can last for decades.

Inheritance

Turkish citizenship is passed down by descent, allowing your grandchildren and great-grandchildren to claim citizenship in the future.

Education and Opportunities

Turkey boasts a growing educational sector with public universities offering affordable tuition to citizens. International schools and English-language programs are widely available, providing excellent education options for your children.

By securing Turkish citizenship, you’re not just investing in yourself but creating a valuable legacy for your family.

13. Risks and Precautions to Consider

Despite being one of the safest citizenship-by-investment programs, the bank deposit option still requires careful attention.

Currency Risk

If you deposit in Turkish Lira (TRY), be aware that the currency can be volatile, potentially impacting your investment value despite higher interest rates.

Political and Economic Stability

Turkey sits at a crossroads of complex regional politics. While the government is generally stable, economic fluctuations and geopolitical tensions can affect investment conditions.

Bank Selection

Choose a reputable and regulated bank that offers deposit insurance under Turkey’s Savings Deposit Insurance Fund (TMSF). Avoid unknown financial institutions or intermediaries promising unrealistic terms.

Legal Compliance

Ensure all funds come from legitimate sources. Turkish authorities conduct strict anti-money laundering checks, and failure to prove the legal origin of funds can lead to rejection.

Avoiding Scams

Work only with licensed legal professionals or official agents. The market has seen cases of fraud, so due diligence is paramount.

By understanding and mitigating these risks, you can confidently proceed with your citizenship application.

14. Alternatives to the Bank Deposit Option

Turkey offers several other investment pathways to citizenship, each with unique advantages:

Real Estate Investment

Purchase property worth at least $400,000 and hold it for three years. This option is attractive for those interested in property ownership and potential rental income.

Business Investment

Invest $500,000 in a Turkish business or create jobs for at least 50 Turkish citizens. This path suits entrepreneurs willing to engage in the Turkish market actively.

Government Bonds

Invest $500,000 in government bonds held for at least three years. This is a low-risk, passive alternative, but with relatively low returns.

Venture Capital Funds

Invest in government-approved venture capital funds, tapping into Turkey’s growing startup ecosystem. This is ideal for those looking for innovative and high-growth opportunities.

While the bank deposit route is simple and risk-averse, these alternatives provide options tailored to different investor goals.

15. Final Thoughts: Is Turkish Citizenship via Bank Deposit Worth It?

If you value a streamlined, low-risk, and passive path to citizenship, the Turkish $500,000 bank deposit option is highly worthwhile. It offers an affordable second passport, family inclusion, and access to a dynamic economy without demanding time-consuming commitments.

This route is perfect for:

Investors who prefer capital preservation

Families seeking long-term security and education benefits

Entrepreneurs planning regional expansion

Retirees wanting Mediterranean lifestyle options

Compared to other global citizenship-by-investment programs, Turkey strikes a balance between affordability, ease, and benefits. With no residency requirements or language tests, it offers a user-friendly experience with tangible rewards.

In conclusion, Turkish citizenship through bank deposit represents an excellent option for those seeking global mobility, family security, and economic opportunity. The process is transparent, the costs reasonable, and the rewards substantial.

Conclusion

Acquiring Turkish citizenship via a $500,000 bank deposit is a smart, secure, and practical choice for investors worldwide. It combines financial safety with international travel freedom and family benefits. By understanding the detailed process, legal requirements, and strategic advantages, you can make an informed decision that opens doors for you and your loved ones.

Start your journey today and embrace the possibilities that come with being a Turkish citizen.

FAQs

1. Can I withdraw my deposit before 3 years?
No, withdrawing early disqualifies your citizenship application.

2. Do I need to live in Turkey to keep my citizenship?
No residency or physical presence is required.

3. Can I deposit in currencies other than USD?
Yes, USD, EUR, GBP, and TRY are accepted.

4. Does the citizenship extend to my entire family?
Yes, spouse and children under 18 automatically qualify.

5. Is the interest earned on the deposit taxable?
Yes, the bank automatically withholds applicable tax.