Turkish citizenship through a bank guarantee provides a quick and secure option for obtaining Turkish citizenship, provided the relevant bank provides the required cash guarantee and necessary documents. This ensures that the investor is aware that they need to obtain Turkish citizenship properly. You can contact Taif Services to provide you with details and begin the Turkish citizenship process correctly. In this article, we present the most important points and questions related to the topic according to the following table of contents:

How can you obtain Turkish citizenship through bank deposit?

-Who obtains Turkish citizenship through bank deposit?

Steps to obtain Turkish citizenship through bank deposit

Frequently asked questions about obtaining Turkish citizenship through bank deposit.

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How can you obtain Turkish citizenship through bank deposit?

Obtaining Turkish citizenship through a bank deposit is 100% legal. The Turkish government approved the process through the latest amendment to the Turkish citizenship laws in 2018. The amount set at $500,000, up from $3 million previously, has increased. The number of applicants for Turkish citizenship has increased following the recent amendments.

Who can obtain Turkish citizenship through bank deposit?

Spouse and all children under the age of eighteen.

Steps to obtain Turkish citizenship through bank deposit:

• Obtaining a tax number in Türkiye, which is required in order to open an account to deposit the amount allocated for obtaining Turkish citizenship.

• Any official document from your home country or the foreign country in which the investor resides that shows the full residential address and is dated less than three months ago, such as an address document from the mayor or a water or electricity bill.

• Open a bank account in any official Turkish bank.

• Deposit at least $500,000 or its equivalent in Turkish lira or foreign currencies.

•It must be ensured that the deposit is made within the laws regulating the acquisition of Turkish citizenship.

• Account freeze order for 3 years.

• Pledge to freeze the account for 3 years.

• Approval of the account freeze order.

•After signing the documents, approval is obtained from the Banking Regulation and Supervision Authority.

The Banking Supervision Authority will correspond with and notify the General Directorate of Civil Status and Nationality and send an electronic copy via email to inform the concerned person that they have obtained the required document.

•Then, the investor residency application is submitted for the concerned person and his/her appropriate family members, according to the nationality requirements.

After the investor's residency permit is approved for the person concerned and his family, he must apply to the Civil Registry to obtain Turkish citizenship.

*What are the papers and documents required to obtain Turkish citizenship? It is very important to prepare them before arriving to begin the process to save time.

• A special power of attorney for the legal team or legal representatives in Türkiye to follow up on the procedures on behalf of the investor. The special power of attorney can be issued by a notary public or by Turkish embassies and consulates outside Türkiye.

•If a wife is included, she must issue a separate power of attorney to apply for and obtain Turkish citizenship. For children, both parents must jointly issue the power of attorney on behalf of their minor children.

•Translate all passports into Turkish and notarize them.

•Civil status document: Marriage contract certified by the Ministry of Foreign Affairs of the country where the marriage took place or the country of residence, and then by the Turkish embassy or consulate in the same country. If the applicant is single, a document proving their celibacy must be submitted, along with the same certifications previously provided. This should be translated into Turkish by a sworn translator and notarized.

note:

The documents must be from the same country of which the investor is a citizen. For example, if the investor is of Egyptian nationality, the documents submitted must be Egyptian, regardless of his country of residence. If documents are submitted from another country, for example, Saudi Arabia, which is the country of residence, the procedures will be delayed or the documents will be rejected altogether.

• Birth certificates for all family members seeking Turkish citizenship, along with a family registration certificate and civil status extract for each individual. These must be authenticated by the Ministry of Foreign Affairs, depending on the country issuing the document, followed by the Turkish embassy in the same country. These documents must then be translated into Turkish and certified by a notary public. The aforementioned documents must include information about the place of birth, date of birth, and the mother's and father's details. If they do not contain the aforementioned information, they will not be accepted.

• 2 biometric passport photos for each person, less than 6 months old.

• Application form for obtaining Turkish citizenship through bank deposit. The application form must be filled out accurately in capital Latin letters and signed by the applicant himself or his representative.

• Every document issued outside Turkey must be translated and certified in Turkey. Certification must be requested from the embassy of the country that issued the document, followed by the governor, followed by a sworn and legal translation into Turkish, and then certification by a notary public.

Frequently asked questions about obtaining Turkish citizenship through bank deposit.

•Is it required that the deposit amount be in US dollars?

Answer: The deposit is not required in US dollars. It can be made in other currencies, provided that it achieves the equivalent of $500,000.

•Does the depositor of the Turkish citizenship amount receive interest on the deposit?

The answer is yes, he gets interest on the deposit, but you must request that the account be interest-bearing when opening the account and depositing the amount. The interest varies from one bank to another and according to the type of deposit currency.

•Can the deposit amount be affected by changes in the lira exchange rate?

Answer: The amount will be in a secure account, meaning its value remains fixed at $500,000, regardless of the fluctuations in the Turkish lira exchange rate.

•Is it required to transfer the amount from my personal account to the deposit account in Türkiye?

-It is not required. It can be deposited in cash, provided that the source of the amount is shown, or it can be transferred from another person’s account.

•Is it required to deposit the full amount in one payment?

Answer: It is not required to pay in one go, but it can be distributed over multiple installments.

•If I want to withdraw the deposit amount before the expiry of the years, is this possible?

Answer: It is possible, but the Turkish citizenship obtained through a bank deposit must be waived.

•If the bank goes bankrupt, what happens to my deposit?

Answer: If the bank is private, the state compensates a percentage of the amount depending on the circumstances. If the bank is government-owned, the government guarantees the bank and repays the full amount.

•Is real estate investment better than bank deposits for obtaining Turkish citizenship?

Answer: Both methods legally enable you to obtain Turkish citizenship. However, if you're considering a long-term investment, real estate is financially more cost-effective. However, if you're looking for something simpler, easier, and with fewer procedures, a bank deposit is preferable.

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