Quick answer
Deposit at least USD 500,000 (or the equivalent) with a bank operating in Turkey and keep it there for three years. The bank obtains a conformity letter from the banking regulator (BDDK), and you then apply for a residence permit and citizenship. Under the current rules the deposit is held in Turkish lira, so you carry currency risk.
Key takeaways
- Minimum USD 500,000, held for three years in a bank operating in Turkey.
- Certified by the Banking Regulation and Supervision Agency (BDDK).
- The deposit is held in Turkish lira under the current rules: plan for currency risk.
- Simple and liquid at the end, but USD 100,000 more than the property route.
A bank deposit is the most straightforward of Turkey's financial routes to citizenship: you place at least USD 500,000 with a bank operating in Turkey, commit to keep it there for three years, and the banking regulator certifies the deposit for your application. This guide explains the rules in force in October 2026, the steps, the currency risk you take on, and how the route compares with buying property.
The requirements
- Amount: at least USD 500,000, or the equivalent in another foreign currency or in Turkish lira.
- Where: a bank operating in Turkey and supervised by the Banking Regulation and Supervision Agency (BDDK).
- How long: three years, with a written commitment not to withdraw the principal.
- Currency: under the current rules the foreign currency is sold to the bank and the deposit is held in Turkish lira; the bank issues a foreign currency sale certificate for the conversion.
- Certification: the bank applies to the BDDK, which issues the letter confirming that the deposit meets the citizenship rules.
The legal basis is Article 12 of the Turkish Citizenship Law No. 5901 and Article 20 of its implementing regulation. Thresholds are set by Presidential decision and can change, so confirm the position with the bank before you transfer.
Step by step
| Step | What happens |
|---|---|
| 1. Choose the bank | Compare the banks' terms: interest on the lira deposit, how interest is paid out, and their experience with citizenship deposits. |
| 2. Tax number and account | Obtain a Turkish tax number and open the account, in person or through a representative under a power of attorney, depending on the bank. |
| 3. Transfer and conversion | Transfer the funds from abroad, sell the currency to the bank and open the time deposit with the three-year commitment. |
| 4. BDDK letter | The bank requests the conformity letter from the BDDK. |
| 5. Residence permit and application | An investor residence permit is issued and the citizenship file is submitted, with biometrics taken in person. |
| 6. Decision | Citizenship is granted by Presidential decision, typically three to six months after the deposit is certified. |
The currency risk, in plain terms
Because the deposit is held in Turkish lira, its value in dollars after three years depends on two things: the lira interest you earn and how the lira moves against the dollar. Lira interest rates have been high, but the lira has also lost value against the dollar over most multi-year periods. If depreciation outpaces the interest, you get back fewer dollars than you put in. Treat the route as a three-year lira exposure, not as a dollar savings account, and ask your bank for the current deposit rate before deciding.
Deposit insurance in Turkey covers only a limited amount per person and per bank, far below USD 500,000, so the strength of the bank you choose matters.
Deposit or property?
| Bank deposit | Property | |
|---|---|---|
| Minimum | USD 500,000 | USD 400,000 |
| Holding period | 3 years | 3 years |
| Income during the period | Lira interest | Rent, if you let it |
| Main risk | Lira depreciation | Choosing the wrong property or overpaying |
| Exit after 3 years | Withdraw and convert | Sell or keep the asset |
| Something to live in | No | Yes |
The deposit route asks for USD 100,000 more and gives you no asset to use, but it is simple and liquid at the end. Property costs less to enter and can earn rent, but needs careful selection. Read our comparison of all seven routes for the full picture.
Family, documents and timing
One deposit covers the main applicant, the spouse and children under 18. You will need passports, apostilled and translated birth and marriage certificates, biometric photographs, the bank's confirmation and the BDDK letter. You do not need to live in Turkey before or after applying.
How we help
We are a licensed real estate broker, not a bank or a licensed investment adviser, so we do not sell or manage deposits. What we do: explain how the deposit route compares with the property route for your goals, introduce you to banks experienced in citizenship deposits, coordinate the tax number, translations and timetable, and work with an independent lawyer of your choice on the application. If the property route suits you better, we find and check the property. Talk to us before you transfer anything.
Frequently asked questions
- How much do I need to deposit for Turkish citizenship?
- At least USD 500,000, or the equivalent in another foreign currency or in Turkish lira, held for three years in a bank operating in Turkey.
- Does the deposit have to be in Turkish lira?
- Under the current rules the foreign currency is sold to the bank and the deposit is held in lira, with the bank issuing a foreign currency sale certificate. Confirm the terms with the bank before you transfer.
- Can I withdraw the interest?
- The principal must stay for three years. How interest is paid out depends on the bank's terms, so ask before you choose the bank.
- Is a USD 500,000 deposit insured?
- Turkish deposit insurance covers only a limited amount per person and per bank, far below USD 500,000, so the strength of the bank matters.
- Is the deposit route better than property?
- It is simpler and more liquid, but costs USD 100,000 more to enter, gives you no asset to use and exposes you to lira depreciation. Property suits investors who want an asset that can earn rent.
Sources and legal basis
- Turkish Citizenship Law No. 5901 and its implementing regulation (Art. 20)
- Banking Regulation and Supervision Agency (BDDK): bank deposit route
- General Directorate of Population and Citizenship Affairs (NVİ)
General information, not legal or tax advice. Rules change, so check the current position for your case with an independent lawyer or tax adviser before you act.
