Turkish Citizenship Through a $500,000 Bank Deposit: How It Works

Turkish citizenship by bank deposit is a route in which a foreign investor deposits at least $500,000 in a Turkish bank, commits not to withdraw it for three years, and in return qualifies to apply for citizenship. It suits investors who do not want to buy real estate and prefer to keep their capital liquid, in an asset they can recover in full after three years.

This article explains, from an independent advisory point of view, how the process actually works: the current requirements, the real cost once non-refundable fees are counted, and the risks that are easy to overlook. Turkey is one of the few countries offering citizenship by investment through more than one route, and as an independent consultancy that has supported more than 2,000 citizenship and residence clients from over 40 countries since 2018, we know firsthand where a file typically stalls and why a particular document gets rejected.

What Is Turkish Citizenship by Bank Deposit?

Turkish citizenship by bank deposit is an exceptional naturalization route available to foreign nationals who deposit $500,000, or the equivalent in foreign currency or Turkish lira, in a bank established in Turkey, on condition that the deposit is not withdrawn for three years. Investors sometimes search for this program as citizenship by deposit Turkey; both terms describe the same route. The amount and the three-year holding period are set by the Regulation on the Implementation of the Turkish Citizenship Law, and the current thresholds are published by the Presidency Investment Office (invest.gov.tr, as of this writing).

When the deposit is made in foreign currency, the amount is typically reported to the Central Bank of the Republic of Turkey, and the bank issues a compliance letter together with an undertaking confirming that the investment will be preserved for three years. Citizenship is granted on the strength of that undertaking; withdrawing the funds before the term ends does not automatically cancel citizenship already obtained, but it is a breach of the undertaking and can carry serious legal consequences.

Who Is This Route Right For, and Who Is It Not For?

The deposit route suits investors who do not want to enter the real estate market and who have the liquidity to keep $500,000 tied up for three years. Investors who would rather hold their money in an interest-bearing account than in an apartment, and who want to avoid exchange-rate and valuation risk tied to property, tend to choose this route.

By contrast, investors who want to work with a lower threshold ($400,000) or who expect a return and possible appreciation on their capital are often better served by Turkish Citizenship by Property: The $400,000 Rule and the 3-Year Hold. With the deposit, the principal is locked for three years; with property, there is a chance of a sale at the end of the same period. Which vehicle suits you depends less on your budget than on your liquidity preference and risk appetite.

Current Requirements and Figures

The core requirement for Turkish citizenship by bank deposit is depositing $500,000, or the equivalent, in a bank in Turkey and keeping it there for three years. As of the time of writing (2026), the requirements for Turkish citizenship by bank deposit are as follows, and because thresholds change often, they should be confirmed with an advisor before you apply:

• Amount: At least $500,000, or the equivalent in foreign currency or Turkish lira.
• Duration: An undertaking to keep the deposit in the bank for three years.
• Approval: A Central Bank compliance letter and a bank undertaking.
• Source of funds: Documented proof of the legal origin of the money.
• Scope: A spouse and children under 18 can be included in the same application.

Citizenship can extend to the applicant's spouse and dependent children under 18, which is one of the reasons the deposit route is competitive once the cost is measured per family member rather than per applicant.

Comparing Turkey's Investment Options

Turkey's citizenship by investment program is not limited to a single vehicle. The table below summarizes the main routes and their minimum thresholds as of the time of writing (2026); where a holding period applies, it is generally three years. For a closer look at how each route compares, see Turkish Citizenship by Investment: Comparing All 7 Routes in 2026.

Investment vehicle	Minimum amount	Holding period
Bank deposit	$500,000	3 years
Real estate	$400,000	3 years
Government bonds	$500,000	3 years
Fixed capital investment	$500,000	N/A
Investment fund shares	$500,000	3 years
Job creation	50 people	N/A

As the table shows, the deposit is not the lowest-threshold option; real estate is $100,000 cheaper. The appeal of the $500,000 bank deposit route is not price, it is liquidity and simplicity: you hold the money in a single account without dealing with valuation, title transfer, or resale.

The Real Cost: What Sits Alongside the $500,000

The real cost of the deposit route is not just $500,000; that principal comes back to you after three years, but the process itself carries fees that are not refundable. As of the time of writing, the typical line items are as follows, and current amounts should be confirmed with an advisor:

• Principal (refundable): At least $500,000, held in the bank for three years and withdrawable once the term ends.
• Official application fees: Residence permit card, citizenship application and passport fees (non-refundable).
• Notarization, certified translation and power of attorney: Apostille and translation of passport, birth and marriage records.
• Advisory and case management fee: The professional fee for managing the process end to end.

Together these non-refundable items amount to a small percentage of the principal, but they still need to be budgeted from the outset. For a detailed, line-by-line breakdown of what the documentation side of the process requires, see Turkish Citizenship by Investment: Requirements and Document Checklist (2026).

Step-by-Step Process and Timeline

Applying for citizenship through the deposit route is a multi-stage process that begins with depositing the funds and ends with a citizenship decision. In practice, it works like this:

1. Obtain a Turkish tax number and open a bank account.
2. Deposit $500,000, or the equivalent, into the account and document the source of the funds.
3. The bank obtains Central Bank compliance and issues the three-year holding undertaking.
4. Apply for the compliance certificate, then for the residence permit.
5. Submit the citizenship application to the Ministry of Interior for identity and document review.

When the file is complete and the documents are consistent, the process is usually resolved within a few months, but no advisor can promise an exact timeline, because the reviewing authority's workload and any gaps in the file directly affect the calendar.

In practice, most delays come from inconsistencies at the apostille, translation and notarization stage. A name spelled differently on the passport than on the birth certificate, an outdated criminal record check, or a missing apostille are the most common reasons a file is sent back. Resolving these details before applying noticeably shortens the timeline. Because some documents are prepared outside Turkey and others in Istanbul, planning upfront which document is issued where, and in what order, prevents most delays.

Points to Watch

The most commonly overlooked risk in the deposit route is that the principal is, in effect, locked for three years. Withdrawing the money during that period is a breach of the undertaking and puts citizenship at risk, so this sum should be capital you will not need in the near term.

The second critical point is source of funds. The files that get stuck most often in review are the ones that cannot clearly and verifiably explain where the $500,000 came from. A sale agreement, inheritance ruling, dividend record or bank statements, whatever the evidence chain is, it needs to be complete before you apply; the money having passed through more than one account is not a problem by itself, but every step needs to be documented.

The third point is tax and dual citizenship. Turkish citizenship does not require giving up your current citizenship, but you should separately check your own country's rules on dual nationality, since some countries restrict holding a second citizenship. It is also worth reviewing the tax consequences of becoming a Turkish tax resident with a tax advisor.

What Happens When the Three Years Are Up?

Once the three-year holding period ends, your citizenship status continues, and you can either withdraw the $500,000 principal from the bank or keep it invested in Turkey. Citizenship depends on the three-year undertaking being honored, not on holding the deposit indefinitely, so withdrawing the funds after that period has no effect on the status you have already acquired.

That said, Turkish citizenship can create a tax link to Turkey. Spending more than 183 days in Turkey in a calendar year generally makes you a tax resident, and your worldwide income can become reportable in Turkey as a result. Weigh the effect of residency and any applicable double taxation treaty on your situation in advance. The picture is different for an investor applying purely for a passport with no plan to live in Turkey than for a family that intends to relocate, so the decision should be made alongside your residency plan.

For an assessment specific to your situation, you can move forward with a single senior point of contact through a free consultation. You can also find the general framework of the program on our citizenship by investment page.

Frequently Asked Questions

How much money is needed for Turkish citizenship by bank deposit?

As of the time of writing, the minimum amount is $500,000, or the equivalent in foreign currency or Turkish lira, and this amount must be held in the bank for three years. Because thresholds can change, the current figure should be confirmed with an advisor before applying.

Can I withdraw the money before the three years are up?

No. The three-year holding undertaking is the core requirement of the program. Withdrawing early counts as a breach of the undertaking and puts the citizenship status you obtained at risk, so this amount should be capital you will not need in the short term.

Can I get the $500,000 back once the three years are over?

Yes. Once the undertaken three-year period ends, you can withdraw the principal, and this does not affect the citizenship status you have already acquired. Citizenship depends on the three-year undertaking, not on holding the deposit indefinitely.

Can my family get citizenship too?

Yes. A spouse and dependent children under 18 can generally be included in the same application. This is one of the reasons the deposit route is competitive on a per-family cost basis.

Is a bank deposit or real estate the better option?

Real estate has a lower threshold ($400,000 at the time of writing) and some potential for appreciation; the deposit is more liquid and simpler. Which one is better for you depends less on your budget than on your liquidity preference and risk appetite.

Do I need to give up my current citizenship?

Turkey allows dual citizenship, so you do not need to give up your current citizenship on the Turkish side. However, you should separately check your own country's rules on dual nationality, since some countries restrict holding a second citizenship.

Disclosure: This article is for general information only and does not constitute legal, tax, immigration or investment advice. Programs and amounts can change; confirm current details and your personal eligibility with a qualified advisor before taking action.