Legalixa Law Firm is a full service Turkish Law Firm with a long record of excellence and professional leadership in Istanbul, Turkey. Our Turkish citizenship lawyers are prepared to apply for Turkish Citizenship 500.000 USD bank deposit. Our immigration lawyers also handle work and resident permit applications. Our Turkish citizenship lawyers also represent our clients in other immigration law issues including; extending resident and work permits, application for Turkish citizenship, filing a law suit to cancel any objections.
Our Turkish real estate lawyers are prepared to handle real estate acquisitions to get Turkish citizenship. Our investment for Turkish citizenship practice includes; buying, leasing, and selling residential and commercial properties to both domestic and foreign customers in Turkey. Our Turkish real estate lawyers also represent our clients in real property acquisition, we prepare real estate sale contracts or amend the contracts that are prepared by the developers. We also represent our clients throughout Turkish citizenship application process until they get their Turkish passport.
Turkish Citizenship 500.000 USD
Turkish Citizenship Law’s Article 12 allows foreign investors to acquire Turkish citizenship in exceptional terms; with 18.09.2018 dated 106 numbered Presidential Decree, amendatory new arrangements have been made regarding the amounts mentioned in the Article 20 of the Regulation on the Implementation of the aforementioned Law.
In line with the recent regulatory amendments, foreigners who satisfy at least one (1) of the below criteria will be granted citizenship subject to the approval of the Council of Ministers:
- Purchase of a real estate property in Turkey with a minimum value of $250,000 (prior to the amendment such amount was $1,000,000), such property shall also have an annotation of no-sale for at least three years at the relevant title registry; or purchase a real estate which has a property ownership or a construction servitude on it, with a preliminary sale contract executed before a notary public and at least $250,000 or amount of foreign currency or Turkish Liras has been paid in advance and such notarized preliminary sale contract should be recorded at the relevant title registry with the undertaking not to assign or de-register the agreement for a period of three years
- A fixed capital investment of a minimum $500,000 (prior to the amendment such amount was $2,000,000) in a Turkish corporate entity
- Generate employment for at least 50 individuals in Turkey (prior to the amendment such amount was 100 individuals)
- Deposit a minimum of $500,000 to banks that operate in Turkey (prior to the amendment such amount was $3,000,000) with the condition to keep such deposit at such bank for at least three years
- Purchase minimum of $500,000 public borrowing vehicles of Turkey (prior to the amendment such amount was $3,000,000) and keep them for at least three years;
- Purchase minimum of $500,000 of Turkish real estate participation fund shares or Turkish capital investment trust fund shares (prior to the amendment such amount was $1,500,000) and keep those shares for at least three years
Turkish Citizenship with Investment Services
We do perform legal services for property purchase and management for foreign clients. Our services include preparation, legal help and representation regarding the sale or purchase of a real estate property in Turkey.
An English-speaking attorney will prepare your purchase and sale agreement to buy or sell an off-plan or second-hand house or apartment in Turkey. Our lawyer will advise you of any potential pitfalls, recommend specific changes that would benefit you, discuss or negotiate these concerns and changes with the other party, and accompany you to the Title Deed Office to close the transaction.
Turkish Citizenship with 500.000 USD Bank Deposit
Our attorneys will help you to open a bank account. We generally open bank accounts with a Power of Attorney (PoA) given to us by our clients. Some of our client give us PoA in their own country either at Turkish Embassy or local notary and apsotille. A PoA can be given in a way called double legalization in some countries like China. In this way a PoA is prepared by a local notary and attested by the Foreign Ministry of that country and after that it is attested by Turkish Embassy.
In order to be eligible for bank deposit option, one must invest at least 500.000 US Dollars or its equivalent foreign currency or equivalent of Turkish Lira and make commitment to hold the amount of deposits for three years at banks operating in Turkey and for whom a certificate of conformity is issued by the Banking Regulation and Supervision Agency.
Our Bank Deposit Services Includes Following Matters;
- Passport translation and notarization
- Obtaining tax id number for client
- Opening bank account
- Arrange bank deposit
- Prepare documents to be signed by the Client.
- Follow up our paperwork with BBDK.
Our Turkish Citizenship Application Shall Consist of All Following Matters;
- Prepare residency application documents for Client, his wife and children.
- Prepare citizenship application documents for Client, his wife and children.
- Follow up application until the Turkish passports given.
Below Citizenship Services are Also Included in Our Fees:
- Getting the documents translated and notarized.
- Applying for the Turkish Tax Id Number.
- Assistance for opening a bank account in Turkey.
Additionally, we have extensive experience on resident permit and immigration & citizenship services for foreign citizens.
Nowadays, there is huge demand for Turkish citizenship via the route of the USD 250,000 property investment law. Our attorneys will help from real estate purchase until you get Turkish citizenship.
Details on Bank Deposit for Receipt of Conformity Certification
Obtaining conformity certificate from Banking Regulation and Supervision Agency for depositing a minimum of $500.000 or equivalent foreign currency or equivalent amount of Turkish Lira to banks that operate in Turkey [prior to the amendment such amount was $3,000,000] with the condition to keep such deposit in the relevant bank for at least three years.
Foreigners should deposit a minimum of $500,000 or equivalent amount in foreign currency or Turkish Liras to banks that operate in Turkey with the condition to keep such deposit at such bank for at least three years. The amount should be convertible and should be equivalent to $500,000.
It’s not required that such amount should be deposited to only one single bank that operates in Turkey. In this context, foreigner may deposit the money more than one bank operating in Turkey with the condition to keep such deposit at such bank for at least three years and the total deposited amounts should be equal to $500,000.
It’s essential to deposit such amount to banks that operate in Turkey. Therefore, it is not possible to assume an amount as convenient for the Turkish citizenship application which is deposited to a bank in abroad even if it is a branch office or association of Turkish Bank.
Foreigner shall also apply for Turkish citizenship based on a joint account (with his/her spouse or any other person) provided that joint account holder(s) other than the applicant has an express consent that they keep such deposit at bank for at least three years.
It is possible to change the currency or type of investment which is mentioned in Regulation (such as purchasing a real estate investment fund share and capital investment trusts fund share with a minimum value of $500.000). However, in case of shifting the amount to another investment type, such process should be instantaneous and there should not be any interruption for three years period. Otherwise, the BRSA shall promptly inform the Ministry of Internal Affairs regarding such interruption.
Please also note that in such three-year period, a foreigner may benefit from the interest, dividend and similar returns arising from the deposited amount pursuant to executed contracts with banks and type of the bank account provided that the deposited amount shall not fall below the amount of $500.000.
In the event that a currency other than the U.S. Dollar is deposited in the banks, the U.S. Dollar equivalent at the date of the opening of the account shall be determined and the deposited amount shall be expected to remain in the banks at the same rate determined for three years. Therefore, potential alterations on exchange rates shall not be considered.
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 cannot be withdrawn by the holder of the bank account. As soon as the amount withdrawn by the account holder or it is fallen under 500.000 USD, the bank will report the situation to the BRSA and the BRSA will immediately inform the Ministry of Internal Affairs for initiation the cancelling process for Turkish citizenship.
If this occurred once, new application will not be considered as an on-going time span [three year period]. Since the amount can be withdrawn by the applicant, there should not be any restriction on the deposit account such as a sequestration or any other legal limitations. If there occur any restriction, circumstance will be announced to Ministry of Internal Affairs.
Required Documents For Turkish Citizenship Application
- Application form (Vat-4)
- Passport or ID card that shows his/her nationality. If he/she is stateless approved documents with Turkish translate certified from the notary.
- Consent letter (taken from notary or the related officer in domestic, if abroad external representation or from the authorized offices from his/her country) for the children who are under their mother’s/father’s custody and applying the citizenship with.
- Marital status document and if married marriage certificate, if divorced divorce certificate, if widow/widower death certificate.
- Birth certificate that shows personal information, or population register sample document and if married family registration certificate that proves the family bond between his/her spouse and children.
- Service charge receipt from finance cashier desk.
- 2 biometric photograph (50×60 mm, white background, machine readable, plain set by ICAO).
Reach us for Turkish Citizenship 500.000 USD
Since its foundation in 1992, Legalixa Turkish Citizenship Lawyers has been the choice of numerous clients in Istanbul, Turkey. Thanks to its nationally recognized immigration law practice, our firm is now one of the leading Turkish citizenship law firms in Istanbul, Turkey. You may reach our Turkish citizenship lawyers by sending an email or through Contact page for Turkish Citizenship 500.000 USD bank deposit.