Turkish Citizenship: How to Protect Your Money When You Deposit in a Turkish Bank Account
To obtain Turkish citizenship through investment, a Turkish bank account is required.
The money deposited into your Turkish bank account must be converted to Turkish Lira at the exchange rate of the Turkish Central Bank. A certificate detailing this must also be obtained in relation to this transaction.
If you intend to apply for Turkish citizenship by depositing 500.000 USD or equivalent foreign currency into a bank account, you might worry about the value of your money deteriorating due to exchange rate fluctuations within 3 years, which is the time period during which you cannot withdraw the money. To help safeguard this investment, you can protect your money with a “YUVAM” account. This account will not be affected by the exchange rate differences, with the guarantee of the Turkish Central Bank. For full details and the length of the guarantee, it is best to ask the bank you intend to work with in Turkey.
Call to Action
For expert legal assistance on Turkish citizenship by investment and further information on how to deposit the sum into a Turkish bank account, please reach out to Burcu Yılmaz Sayılgan Law Firm at +90 533 392 6556 or visit our website at https://burcuyilmaz.av.tr/ .
