In the event that a currency other than the US dollar is deposited in the banks, the US Dollar equivalent at the date of detection by BRSA will be determined and the amount will be expected to remain in the banks at the same rate determined for 3 years.

The amount of money which is stated in the Regulation on the Implementation of the Turkish Citizenship Law will be deposited in a bank or banks by applicant in Turkiye. Applicant or his/her attorney or agent who has the right to follow the steps for applying process will fill up the form which is reachable at “Contact” section of this website and demand the bank or the Banking Regulation and Supervision Agency (BRSA) to initiate the correspondence process. After document reaches at BRSA, detection of amount will be announced to Ministry of Internal Affairs of Turkiye and relevant bank will be informed about detection by BRSA. Relevant bank will also convey the detection document to its customer (applicant). The determination of the BRSA regarding the applications that meet the conditions specified in the Regulation shall be notified to the General Directorate of Population and Citizenship Affairs and the Directorate General of Migration Administration in writing, and the said sample shall be sent to the relevant bank in order to inform their customer (applicant).

According to the Code, there has to be 500.000 USD for three years in a Turkish bank. So, the currency can be changed by the applicant in the process as long as the amount is equivalent to value which is determined by BRSA at the beginning. Also, it is possible to shift the amount to another investment type which is mentioned in the Code such as a realty or investment fund. However, shifting process should be instantaneous and there should not be any interruption.

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 can not be requested by the owner. As soon as the amount withdrawn by the owner or it is fallen away (under 500.000 USD), the bank will report the situation to the BRSA and the BRSA will immediately inform the Ministry of Internal Affairs of Turkiye for initiation the cancelling process for citizenship. If this occurred once, new attempts will not be considered as an ongoing time span. Since the amount can be withdrawn by the applicant, there should not be any restriction on the deposit account such as a sequestration or any other legal limitations.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.

If the attorney or agent has the right to follow the steps for applying process, he/she can demand convenience document. The attorney/agent has to be specially authorized by the person who demands Turkish citizenship through a notary. The warrant of attorney which is put in order by a notary must include a provision which makes the attorney authorized to apply for the convenience document.

You can open a deposit account in Turkiye by using online banking channels, However, BIFC regulations demand banks to ensure the information about their customers such as name, date of birth, nationality, identity card, address and copy of signature, phone number, e-mail account. BIFC also demands banks to get passport information, residency and other identity information from people who are not Turkish citizen. As long as you provide these documents, you can open a deposit account from abroad. But banks can their own rules and policies about account opening process.

In simple terms, banks are not obligated to accept the money from any natural person or legal person in Turkiye. As legal merchants banks are free to choose their customers. Besides there are strict regulations which are put into force by Board of Investigating Financial Crimes of Turkiye (BIFC), banks check and monitor the money which is wanted to be deposit or transferred by someone even if it is a legal entity or not. If it is considered as an illegal entity or as a subject of money laundering or financial crime, it will not be accepted as a legal deposit or participation deposit. There are also international institutions and regulations that obligate the banks for monitoring the money whether it is legal or not. However as legal personalities banks have their own inherent rules about accepting deposits and people are free to negotiate with other banks about depositing their money.

There is no difference between transferring money from abroad or declaring money that is already in Turkiye. The point is that money should be eligible for international and national monitoring rules which are related to counter-terrorism and money laundering rules. Turkish banks are obligated to investigate money in case of any doubt about counter-terrorism and money laundering.

If your spouse or joint accepts and makes a clear statement on blocking the amount in a Turkish bank for three years, you can declare the amount for your own application.

In the presence of the clear content of the Code and territoriality of the jurisdiction, it is not possible to assume an amount as suitable which is deposited a bank in abroad even if it is a branch office or association of a Turkish bank.

You can dedicate the deposit to your citizenship application which was already in a Turkish bank which is located in Turkiye. However, the former period can not be considered in the required time slot which is regulated in the Code. Since the Regulation on the Implementation of the Turkish Citizenship Law (Code) requires a detection which is confirmed by Banking Regulation and Supervision Agency (BRSA) for acquiring Turkish citizenship via depositing money in Turkish banks, the time slot (3 years) commences after confirmation of BRSA.

Yes, in terms of the agreement which is contracted with your bank, you can obtain the benefits such as interest of the deposit or divident.

No, you can deposit the amount as Turkish Lira or other currencies or precious metal which are determined as convertible by Turkish Central Bank. However, it has to be equivalent to 500.000 USD.