Turkey Pays You to Bank Here! - FX Protected Yuvam Accounts of Turkey
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- เผยแพร่เมื่อ 6 ก.ค. 2024
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Our partner Ece Özlü Beylen explains a new banking product called YUVAM account in Turkey. This investment product is available for foreigners and is actually a win-win way to invest. Yuvam accounts are immune to the devaluation of the Turkish Lira and offer high interest rates. This new product can lead to the resurrection of the Citizenship by Bank Deposit Method.
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00:00 Intro
00:22 Citizenship by TL Bank Deposit
01:11 Introducing YUVAM account
01:57 How does it work?
03:34 Conclusion
#turkey #yuvam #account
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$=29TL i opened a yuvam account with 500k dollars(14,500,000TL) for 3 years and at the end of third year 1$=100TL, at the end of third year how much TL will i get?
I'm looking forward to your answer please
Thanks you made a very good video. I wanted to know that If I simply want to invest in TL What is the minimum Investment required for yuvam account
Hi there, there is no minimum investment limit for YUVAM.
I want to deposit on a monthly basis to YUVAM account - Can I open from abroad as a non resediment and non citizen of Turkey
Welll I think you loose all your money when the bank falls. You only are left with the depositguarantee of 400,000 TRY at this moment year 2023, if I am correct
Turkey is not USA, banks do not go bankrupt often here. The bank we mention is older than Republic of Turkey itself. But yes, if the bank goes bankrupt, the guarantee amount is 400,000-TL.
@@TURKFORTUNE There are several banks offering the yuvam account, One of them is HSBC Turkey.
As i understood, maximum maturity for yuvam account is 2 years, whereas for citizenship i must keep investment for 3 years. What will happen with investment after 2 years?
The money that is in TL shall be put into the second-best option.
it is very likely to loss most of your savings in the year 3 due to the sky hight inflation rate. the central bank fully understands the risk, so they just leave it to all investors to deal with.
hello, at the end of the 3 months, can I convert everything into euros and open a Yuvam account again?
Hello, thanks for the comment! As long as the YUVAM account stays in the market, you can renew it by converting your funds into TL again.
@@TURKFORTUNE merci
So if u invest 500000$ by converting into turkey lira.and get the interest offered. I am sure after 3 years. It will become 200000$ , giving us loss of 300000$😂 what a beautiful interest😂
No. As stated in the video, the funds are FX protected. So, Turkey guarantees the TL return of the funds in its original USD value + extra interests.
@@TURKFORTUNE thats good then.
@turkfortune protected for 2 years only not 3.
Unfortunately they took it off or may be not! :( It costed Turkish Central bank a loss of 22 billion USD because of constant depreciation. I wish, every government must have a facility like YUVAM account, as why would the normal citizen suffers as these days the world is very globalized. Only Turkey had the guts to offer such a facility