law@canaydin.av.tr
+90 542 150 43 13 / +90 542 150 13 85
Zeytinburnu / İstanbul / Türkiye

TURKISH CITIZENSHIP BY DEPOSITING CURRENCY IN BANK

The investor has the right to apply for Turkish citizenship in exceptional way by depositing at least USD 500,000 or equivalent foreign currency or Turkish lira in banks operating in Turkey with the condition not to withdraw the same for at least three years, as attested by the Banking Regulation and Supervision Agency

GETTING TAX NUMBER
  • A tax number is the essential ID number for each registration and financial transaction in Turkey. A Tax Identification Number is a ten-digit number assigned to individuals.Foreigners should have a tax number for; opening a bank account, buying a property, subscribing for utility services, issuing insurance, getting health services, doing notarial processes, applying for residence permits, etc.Tax Registration number can be obtained from interactive tax office’s website or any tax office in TurkeyDocuments Required for Getting Tax Number
    • Passport details
    • Mother and father name 
OPENING INVESMENT ACCOUNT
  • We open a bank account on behalf of an investor with power of attorney.Documents Required for Opening Bank Account
    • Passport
    • Offical Tax Registration document with Turkish address declaration
    • Depositing 15.000 TL or in equivalance of Usd for 6 months
DEPOSIT MONEY IN BANK
  • The amount to be deposited may be either 500,000 US dollars or the equivalent in Turkish liras, as well as any convertible foreign exchange determined by the Central Bank of the Republic of Turkey, or precious metals, which is equivalent to the amount required by the Regulation. It is acceptable as long as the amount is convertible and equivalent to 500,000 US dollars.
  • 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 As soon as the amount withdrawn by the owner or it is fallen away (under 500.000 USD), the bank will report the situation to the BRSA and the BRSA will immediately inform the Ministry of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.
  • Investor can apply for citizenship in reliance of a joint account in a bank operating in Turkey provided that the other account holder gives his/her explicit consent that no deposit will be withdrawn or used from the account for a period of 3 years.
  • Investor can obtain, any advantages from benefits depending on the agreement with the bank and the type of account, as long as the amount does not fall below 500,000 US dollars.
  • Pursuant to the relevant provisions of the Regulation on Citizenship, the amount shall be 500,000 US dollars or an equivalent amount in Turkish liras or another currency and it is possible to convert the amount deposited in US dollars into another convertible exchange rate or into Turkish Lira equivalent to 500,000 US dollars during this period of 3 years upon the investor’s request.
  • The total amount can be deposited in different accounts provided that the total amount required by the regulation is met and an account blocking declaration is made for the citizenship application.
  • The total amount can be sended 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.
  • If a currency other than US dollars is deposited into the bank, the US Dollar equivalent at the date of the opening of the account will be determined and the amount will be expected to remain the same in the bank over the 3 year period. To give an example, 1 US dollar is equal to 5.30 TL as at 06.12.2018; and therefore, an account which is opened with 2,650,000 TL (500,000 US dollars) on the said date shall not fall below 2,650,000 TL over the 3 year period. Exchange rate differences that may occur in this period shall not be taken into consideration.
APPLICATION FOR CERTIFICATE OF CONFORMITY

4. APPLICATION FOR CERTIFICATE OF CONFORMITY

Documents that need to be signed by investor or proxy following the bank account opening process;

  • Written Contract
  • Order to Block
  • Letter of Consent
  • Passport

Bank shall submit the documents to BRSA by the bank upon signing.

BRSA shall notify the General Directorate of Population and Citizenship Affairs and the Directorate General of Migration Management in writing of proof of the application with the requirements specified in the Regulation and shall send it to the online bank in order to provide the relevant person with information.

The bank shall share this written document with the customer.

The customer may submit his/her application to the General Directorate of Population and Citizenship Affairs and the Directorate General of Migration Management together with BRSA proof in person or by proxy (attorney, etc.).

APPLICATION FOR RESIDENCY

Investor will obtain residence permit as an investor for a one year period and other family members will wait for conclusion of their citizenship application. If other family members require a residence permit, they should visit Turkey with valid visa. However, investor does not have to visit Turkey to obtain residence permit.

When we collect certificate of conformity and below documents , we make online residence permit application for investor

DOCUMENTS REQUIRED FOR INVESTOR RESIDENCE PERMIT

1.Notary Certified Translations of Passports

  1. Certificate of Conformity

3.Two (2) biometric pictures and one jpeg version (50×60 mm and white background)

  1. Valid health insurance (Insurance period must cover the intended residence permit duration) We buy health insurance on behalf of applicants.

5.Residence permit payment receipt by tax office

  1. Investor’s Passport Visa Page (if any)
APPLICATION FOR TURKISH CITIZENSHIP

You can be a Turkish citizen with the condition that you can take back all investments along with legal revenues 3 years later.

·         Investor’s wife/husband and children under 18 years old have a right to apply for Turkish citizenship with the investor with the same investment amount. For children above 18 years old has to invest separately to be Turkish citizenship in this case

·         Turkish citizenship process will take approximately 3-4 months after lodging a citizenship application.

·         Investor do not need to renounce his/her existing citizenship. Turkey recognizes dual citizenship, regardless of the number of “second civil passports” that a foreign applicant has.

·         Investor can sell or withdraw investment amount at the end of 3 years period.

·         Investor does not have to live in Turkey to participate in the Programme.

·         Investor’s Turkish Citizenship will remain for a lifetime and your children will be born as Turkish citizens.

DOCUMENT REQUEIRED FOR CITIZENSHIP APPLICATION

1.Scaned Copy of Passports of All Applicants

2. It is sufficient for applicants to submit one of the documents listed below, including their date of birth, place of birth, and parents’ names

A.    Family Registration Document*

(The document must contain all applicants’ date of birth, place of birth, mother and father name)

B.     Birth Certificate of All Aplicants*

(If family registration form can’t be obtained or the Family registration form does not contain required derails stated above )

3. Marital Status Certificate/ Marriage Certificate/ Single certificate/ Divorce Certificate/ Death certificate of Spouse*

4. Six (6) Photo for each Adult Applicants, Two (2) Photo for each Child Applicants(Biometric photo ,50x60mm,white background, identified and one jpeg photo of applicants.)

5. Visa page of an Investor (if any)

*

If the document is obtained from signatory country of the Lahey Convention, it must be apostilled at issuing country.

If the document is obtained from non-signatory country of the Lahey Convention, It must be attested by the Ministry of Foreign Affairs and then Turkish Embassy of the issuing Country.

If the document obtained from Turkish authorities, it must be signed and sealed.

What is an Apostille?

The Apostille is a form of authentication issued to documents for use in countries that participate in the Hague Convention of 1961 

APPLICATION FOR TURKISH ID CARD AND PASSPORT

An investor can obtain his /her Turkish ID card and passports thorugh the Provincial Directorate of Census and Citizenship of the settlement in Turkey If Applicants has any settlement adress in Turkey or Applicants can also obtain her/his identity card and Turkish passports through the Turkish embassy where they live by registration of fingerprints.

Obtaining Turkish Citizenship by Investments Remotely

Investor doesn’t have to visit Turkey in any step of Turkish citizenship program

Investor can remotely obtain Turkish citizenship by real estate ınvesment

To do this, Investor must give a power of attorney in his/her attorney , which investor can elaborate and validate at the Consulate of Turkey in the country of investor citizenship.

The power of attorney must be drawn up in Turkish language

Investor get an appointment with an authorised translator of Turkish consulate and be present at the appointment day with his/her pictures and passport, draft of the power of attorney that her/his lawyer send to investor.

TO GIVE A POWER OF ATTORNEY IN TURKEY

Investors can give power of attorney through Turkish notary. Investors need to have their pictures, tax number and passport with them .

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Maltepe Mah. Eski Çırpıcı Yolu Sk. No: 8 Parima Ofis Kat: 14 D: 176 Zeytinburnu / İstanbul / Turkey
+90 542 150 43 13 / +90 542 150 13 85
law@canaydin.av.tr

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