Art. 12(1)(b), Law No. 5901 · Reg. 2010/139
Turkish Citizenship via Bank Deposit
Deposit USD 500,000 in a BDDK-regulated Turkish bank for a statutory three-year holding period under Article 12(1)(b) of Law No. 5901 and the Implementation Regulation (2010/139). The investment earns interest throughout the holding period; the rate is not floating — it is fixed for a term selected by the client, from one month up to one year, and renewed at the end of each term. Citizenship is conferred by Presidential Decree upon NVİ review and approval. Turak Law manages the full procedural sequence under Power of Attorney.
Legal Framework
- Legal basis
- Law No. 5901, Article 12; Implementation Regulation (2010/139), Article 20, as amended by Presidential Decision No. 5554
- Minimum investment
- USD 500,000
- Holding period
- 3 years from the date the deposit blockage is applied
- Competent authority
- General Directorate of Civil Registration and Citizenship Affairs (NVİ); deposit conformity is certified by the BDDK
- Jurisdiction
- Republic of Türkiye
- Sources verified
- August 21, 2026
Key Facts
Full Online Banking Access
From the date of account activation, the client holds full online banking credentials and can monitor the blocked deposit balance and accruing interest remotely at any time. Only withdrawal of the qualifying principal is restricted during the three-year statutory period.
Direct Attorney Access
You communicate directly with Attorney Abdulsamed Burak Turak — not a paralegal or case manager. WhatsApp, email, or video call. Your case is always with the attorney responsible for it.
Interest Is Yours to Keep
Your blocked deposit earns Turkish lira interest throughout the 3-year hold period. The interest is not blocked — it accrues to your account and is available to you.
What happens if the lira falls?
An investor placing USD 500,000 into Turkish lira for three years faces an obvious question: what happens if the lira depreciates over that period?
The answer is specific to this route. Under the citizenship investment procedure the foreign currency transferred is sold to a bank operating in Türkiye and converted into Turkish lira at the Central Bank rate, and the lira proceeds are held for the three-year term. The Central Bank of the Republic of Türkiye guarantees the foreign-currency value of the principal against depreciation of the lira across that period. This protection operates under the YUVAM (FX-protected deposit) framework of the Central Bank for foreign-resident depositors. The investor additionally earns interest over the three years.
The practical effect is that the currency exposure most investors assume they are accepting on this route is borne by the Central Bank rather than by the investor.
This is a material distinction between the two pathways. Real estate carries market and resale risk on the asset itself. The deposit route carries a Central Bank guarantee on the principal. For an investor whose primary concern is currency stability, that distinction is decisive, and it should be assessed against the terms applicable at the time of investment.
Representation under Power of Attorney — and the one trip you do need to make
Turkish citizenship applications are conducted under a notarised Power of Attorney (Vekâletname) granted to the attorney. That instrument is what allows a foreign investor to be represented in Türkiye without being present at each stage.
Signing it does not require travel to Türkiye. It may be issued by a Turkish consulate in the investor's own country, requiring no further certification. Alternatively it may be executed before a local notary: where that country is party to the Hague Apostille Convention the document is completed with an apostille; where it is not, it is certified through the chain provided by Turkish notarial law, ending at the Turkish consulate. Turak Law assists with execution, with the apostille or legalisation step, and with the certified Turkish translation required for use in Türkiye.
What does require travel. You must be physically present in Türkiye when the residence permit (İkamet) application is submitted, and again for the citizenship application, which follows approximately four to five business days later. Biometric registration is taken at both stages. In practice this means a single visit of roughly one week.
We state this plainly because it frequently is not stated. Representation under Power of Attorney covers a great deal, but it does not extend to either appearance. An investor who plans on the basis that no travel is required discovers otherwise at the point when travel can no longer be avoided. The requirement itself is modest. Not being told about it in advance is not.
Bank Deposit FAQs
Common Questions
Yes. Under this pathway the foreign currency transferred is sold to the Central Bank of the Republic of Türkiye (TCMB) and the lira proceeds are held under blockage for the three-year term. Interest therefore accrues on the Turkish lira amount held under blockage — it is lira interest, not interest on a foreign-currency balance. The rate is not floating: it is fixed for a term you select — 1, 3, 6 or 12 months — and renewed at the end of each term at the rate then applicable. The interest is credited to your account normally and is not blocked. The Central Bank guarantees the foreign-currency value of the principal against depreciation of the lira across that period. Only the qualifying principal remains blocked for 3 years, measured from the blokaj date.
After 36 months, the blockage is lifted and you may freely withdraw or transfer your USD 500,000 plus all accumulated interest. Turak Law provides Exit Strategy services to assist with the repatriation process.
Yes — once. Most stages are conducted under the notarised Power of Attorney (Vekâletname), which itself can be signed at a Turkish consulate in your own country or before a local notary with apostille or consular certification. But you must be physically present in Türkiye when the residence permit (İkamet) application is submitted, and again for the citizenship application, which follows approximately four to five business days later; biometric registration is taken at both stages. Representation under Power of Attorney does not extend to either appearance, so in practice this is a single visit of roughly one week.
Yes. Your spouse and children under 18 years old are included in your citizenship application at no additional investment. They go through the same process and receive Turkish passports.
All major Turkish state banks are accepted: T.C. Ziraat Bankası, Türkiye Halk Bankası, and Türkiye Vakıflar Bankası. Turak Law has a direct manager relationship at Ziraat Bankası and recommends it for smooth processing.
Yes. An İkamet (Turkish residence permit) application is mandatory for all bank deposit pathway applicants before the citizenship application can be submitted. Turak Law handles this on your behalf.
These answers are general information only and do not constitute legal advice. Book a consultation for advice specific to your situation.
Sources
Sources and Authorities
Each entry links to the text published by the issuing authority itself.
Primary legislation 1
- Turkish Citizenship Law, Law No. 5901Türk Vatandaşlığı Kanunu (Kanun No. 5901)Article 12 governs exceptional acquisition of citizenship, the basis of the investment program.
Regulations 2
- Regulation on the Implementation of the Turkish Citizenship Law (Council of Ministers Decision No. 2010/139)Türk Vatandaşlığı Kanununun Uygulanmasına İlişkin Yönetmelik (Bakanlar Kurulu Kararı 2010/139)Article 20 sets the investment categories. The text linked is the 2010 original; current amounts are fixed by the amendment of 2022 cited below.
- Amending Regulation on the Implementation of the Turkish Citizenship Law (Presidential Decision No. 5554)Türk Vatandaşlığı Kanununun Uygulanmasına İlişkin Yönetmelikte Değişiklik Yapılmasına Dair Yönetmelik (Karar Sayısı: 5554)Set the real estate minimum at USD 400,000 and the other investment routes at USD 500,000, effective 13 June 2022.
Official authority materials 3
- General Directorate of Civil Registration and Citizenship Affairs (NVİ)Nüfus ve Vatandaşlık İşleri Genel MüdürlüğüThe central citizenship authority: receives and processes citizenship applications.
- Presidency of Migration Management, e-Residence (e-İkamet)Göç İdaresi Başkanlığı, e-İkametResidence permit applications, a prerequisite of the citizenship application, are filed through this system.
- Banking Regulation and Supervision Agency (BDDK)Bankacılık Düzenleme ve Denetleme Kurumu (BDDK)Certifies conformity of the qualifying bank deposit and supervises the deposit blockage.
Bank Deposit Pathway
Schedule a Consultation on the Bank Deposit Pathway
Attorney Abdulsamed Burak Turak has conducted Article 12(1)(b) bank deposit proceedings since 2019. An initial consultation covers eligibility assessment, document requirements specific to your nationality, projected timeline, and total cost structure.