After the amendments to the law issued by the President of Turkey regarding obtaining Turkish citizenship through bank deposit, it has been facilitated to obtain Turkish citizenship for foreign investors thanks to the amendments made to the current Turkish nationality law, and the new regulations were published in the Official Gazette on September 18, 2018. , As the deposit amount was reduced from 3 million US dollars to 500 thousand US dollars.
Through this article, we will get to know the procedures to be followed and the documents required to obtain Turkish citizenship through bank deposit.
Bank deposit is the easiest way to obtain Turkish citizenship, so we have to follow some simple steps that we will get to know through this article:
First, before starting everything, you must prepare and certify some papers from your country of origin or the country of residence, and this procedure will facilitate a lot of time and effort for you if you accomplish it before coming to Turkey.
Documents required to submit the file to obtain Turkish citizenship through bank deposit:
- Do not judge him for the father and mother.
- Birth certificates for children.
- Translation and certification of passports.
- Family book or marriage contract.
- 4 personal photos of each person in the family.
- The residence address inside and outside Turkey.
- Power of attorney approval from the wife for the husband to extract the nationality for the children.
- In the event that the presenter is single, he asks for a celibacy statement.
- Family statement (family tree).
These papers are prepared and certified by the Ministry of Foreign Affairs and the Turkish embassy. Note some papers sometimes are not required, but it is better to prepare them if requested and to ensure the acquisition of Turkish citizenship through bank deposit.
After coming to Turkey, the procedures for opening a bank account are started, and some steps are followed:
- Opening a personal bank account.
- Depositing an amount of 500 thousand US dollars with mentioning its purpose (obtaining Turkish citizenship through bank deposit)
- Sign a pledge not to withdraw the amount for a period of 3 years
- Waiting for the bank certificate or approval paper to be issued (usually issued within 3 to 10 days)
- Preparing the file and submitting it to the Banking Supervision Institution of the Turkish Central Bank
Now the file is ready to apply for Turkish citizenship through bank deposit through the Naturalization Department.
A tracking number for the application is granted through the Naturalization Department, and the nationality is issued within a maximum period of 90 days from the date of submitting the application.
Some common questions about obtaining Turkish citizenship through bank deposit:
Should the amount be deposited in Turkish lira or US dollars? It is possible to deposit in both currencies, but we recommend that you always deposit it in US dollars due to the permanent changes in the exchange rate.
If I submit the application, will my family get Turkish citizenship? The applicant, wife and children under 18 years of age obtain Turkish citizenship.
Is it possible to withdraw part of the amount deposited in a period of 3 years? Yes, you can withdraw from the amount, but you have to return the amount within a very short period, and if the amount is not returned, the Naturalization Department and the Central Bank will be notified of this matter.
When obtaining Turkish citizenship through bank deposit, is it possible to obtain interest from banks during the 3-year period? Yes, the depositor gets annual interest with different values (that vary according to the bank), but on average it is 5%, and there are some Islamic banks in which the applicant can deposit the amount.
Do I have to be in Turkey to do these procedures? In the event that you are outside Turkey, it is preferable to come to Turkey only to open a bank account and deposit the amount, and then you can hire a lawyer or one of the representatives of Advance to do the rest of the procedures.
Should all family members be in Turkey? There is no need for the presence of all family members, only the applicant and the papers mentioned above
In the event of the separation of the spouses, can the Turkish citizenship be issued through bank deposit for the children? Yes, it can be issued, provided the consent of the other party is obtained for the naturalization of children and not for the person to be naturalized.
Through this article, we have learned about most of the procedures for obtaining Turkish citizenship through bank deposit, and for more information you can contact us.
Do not forget to also read the articles related to obtaining Turkish citizenship through real estate investment.