Turkish Citizenship by Bank Deposit Investment: Requirements and Application Steps

I am giving information about Turkish Citizenship by Investment through bank deposit. I already explained citizenship by investment through real estate investment in my previous videos. This bank deposit option allows foreigners to invest $500,000 into a Turkish bank account for 3 years and become eligible for Turkish citizenship. Let's go to the detail!
Why Turkish Citizenship Program?
First of all, why Turkey? Well, besides its rich history, stunning landscapes, and vibrant culture, Turkey offers a straightforward path to citizenship through investment. And one of the most popular routes is through a bank deposit. Foreigners can the citizenship directly and they only need to keep the deposit for 3 years. After that, they can withdraw the funds and they still keep the citizenship.
Turkey Bank Deposit Process
So, how does it work? It's simple. Foreigners can invest $500,000 into a Turkish bank account for a period of 3 years. This investment is converted to Turkish Lira and its USD value is guaranteed by the Central Bank of Turkey. The Banking Regulation and Supervision Agency (BDDK) verifies the deposit of $500,000 and they issue citizenship conformity paper (Uygunluk Belgesi). This form is the legal pathway to citizenship for eligible investors.
Yuvam Account Interest Rate
The Yuvam account is a specialized deposit account offered by Turkish banks, designed to provide attractive interest rates for foreign investors. By using the Yuvam account, you can optimize your investment and potentially increase your returns.
Yuvam Account provides an additional return guarantee as well as exchange rate protection assurance by the Central Bank.
As of now, the USD interest rate is 6% per year and Turkish Lira interest rate is 32% per year. The Central Bank also offers exchange rate protection if Turkish Lira depreciates a lot. For example, if Turkish Lira depreciates more than 32%, the Central Bank guarantees the USD equivalent of your investment with +6% interes.
Steps of Bank Accounting Opening and Deposit
- Firstly, you need to come to Turkey to open bank account. Most banks ask for a residential address document from Turkey or from your home country. It can be a utility bill or an official document that shows your address.
- Secondly, you will get IBAN and Swift number from the Turkish bank. You can use these number to transfer funds from your home bank to the Turkish Bank.
- Thirdly, you the Turkish Bank will take necessary actions to convert your money to Turkish Lira with Yuvam account and apply for investment conformity paper.
- Finally, after your investment conformity paper is ready, you are ready to apply for Turkish Citizenship.
The End
Thank you for watching! If you found this video helpful, don't forget to like, share, and subscribe for more content. And as always, feel free to leave any questions or comments down below. Until next time, take care!
Time Codes:
0:00 - Turkish Citizenship by Bank Deposit
0:23 - Why Turkish Citizenship Program?
0:58 - How does bank deposit work in Turkey?
1:36 - Turkish Central Bank Guarantee on USD Investment
3:12 - Steps of Bank Deposit Investment for Turkish Citizenship
4:59 - The End

[@Free-73]

Hello.
Do I need to be in Turkey to do The process or you can do it while I'm in Canada.
Thanks.

[@1nks4n1ty]

We would to open a business in turkey but getting the right information is rather hard but soon it will be done just need to wait till all the politics slows down so we can

[@BurakUnal1]

On my TH-cam channel, I share my experiences and past cases for that reason :)

[@msallakelmehdi274]

Hello, I have a question, may I know if the investor is allowed to transfer his money freely after 3 years to his country? Or there will be some restrictions? Please explain more about this and the procedure

[@BurakUnal1]

There is no restriction. Your money can be transfered to anywhere after 3 years of deposit. Contact us through whatsapp button at www.residentturkey.com

[@user-qt7qh4ls6k]

6% on 500k means 30000usd per year is that right ?

[@slowwallace5590]

If i want to gain turkish citizenship by bank deposit, can i use yuvam account? If yes,Yuvam account how does work in 3 years which obligatory for getting citizenship?

[@BurakUnal1]

I can explain all details of Yuvam account. Contact us through whatsapp button at www.residentturkey.com

[@slowwallace5590]

Hello,let me ask a question in form of example,
as a foreigner if i want to gain turkish citizenship by bank deposite i must invest 500k dollars in a bank account for 3 years,
imagine today while 1$=32TL i opened a yuvam account with 500k dollars(16,000,000TL) for 3 years and if at the end of third year 1$=80TL, at the end of third year how much TL or usd will i get in my yuvam account?

[@BurakUnal1]

There is a return calculator at yuvam.tcmb.gov.tr/wps/wcm/connect/yuvam/en
Just scroll down and you will see the calculators. It tells all the details.
Note that Yuvam account is for 2 years. For the 3rd year, Yuvam might be expanded for the 3rd year, but it is not sure yet. So, you can calculate the return for 2 years. And for your last 3rd year, you will need to look at the investment option when the time comes.

[@asiaticonaeuropa]

@@BurakUnal1 now the return calculator is not working anymore. Yuvam is dead now or not?

[@josephcasaoui2669]

Hi , can I open bank account in Türkiye as an non resident American citizen, since I am planning to buy property later on , thank you

[@dlukton]

Very unlikely they'd let you do that without having either citizenship or a residence permit.

[@BurakUnal1]

Yes, some banks allow foreigner to open bank account even if they don't have residency in Turkey. You need to provide a document that shows your address in USA instead (utility bill or an official document with your address on it). You can contact my team at the whatsapp button on my website: www.residentturkey.com