Urgent Update: Time Deposit Path in Turkey’s Citizenship Program Faces Tightening Window

By Gamze Türker, In-House Lawyer, Globevisa Turkey

The Türkiye Citizenship by Investment Program, launched in January 2017, aims to attract foreign direct investment and boost the country’s real estate and financial sectors. Eligible applicants must be at least 18 years old, have no criminal record from their country of nationality, and make a qualifying investment. Options include purchasing real estate worth at least USD 400,000 or depositing a minimum of USD 500,000 in a Turkish bank, both with a required holding period of three years.

Among these options, the time deposit route has become particularly attractive in recent years due to Türkiye’s high interest rate environment. However, as the Turkish Central Bank prepares for its next monetary policy meeting, this popular 3-year deposit option is facing a narrowing window of opportunity. Recent developments indicate that both interest rates and product availability may soon be restricted.

Latest Insights from QNB

Globevisa has received internal updates from our banking partners, specifically QNB, one of the few banks still offering high-yield 3-year deposits.

According to the bank:

“We struggled with our HQ today to maintain the 40% interest. The Central Bank is pushing to lower rates. A reduction could happen at any moment. Please inform clients that if they delay, we may no longer be able to offer 40%.”

In fact, the bank executed new time deposit agreements at 39% annual interest today — already a signal. Clients in the middle of transferring funds should urgently provide their transfer receipt so the bank can monitor the transaction and begin the deposit process as soon as the funds are credited.

Next Central Bank Meeting: July 24, 2025 – A Key Turning Point

While the Central Bank has the authority to intervene at any time, the next official Monetary Policy Committee meeting is scheduled for Thursday, July 24, 2025, at 14:00. A major policy shift is expected. 

https://www.tcmb.gov.tr/wps/wcm/connect/en/tcmb+en

Key considerations:

QNB may revise interest rates even before July 24, possibly with very short notice.

A significant drop is likely after the Central Bank meeting depending on macroeconomic signals and inflation outlook.

Why You Should Act Now

In addition to the likely rate reduction, there are other important risks on the horizon:

1. 3-Year Agreements May Be Discontinued

Several major banks have already reduced their maturity options:

ICBC and Ziraat now only offer 1-year fixed-term deposits.

HSBC has fully withdrawn from this offering.

QNB remains one of the last institutions offering 3-year maturity but may discontinue it at any time.

Clients who delay may be forced into short-term renewals at lower interest, significantly reducing overall returns.

2. Reduced Bank Participation

The market is shifting rapidly. With HSBC already out and others reconsidering their offerings, the pool of eligible banks is shrinking. Delays could limit your options.

Globevisa Recommends Immediate Action

To take advantage of the current high interest rates, longer-term fixed options,we urge clients to:

Finalize transfers promptly and share proof of transaction.

Confirm 3-year deposit eligibility with your Globevisa advisor.

Monitor upcoming policy announcements closely — we will provide updates.

At Globevisa, we remain committed to delivering real-time policy intelligence, direct coordination with banking partners, and end-to-end support for your Turkey citizenship application.

Please reach out to your consultant or legal team for case-specific guidance.This article is based on internal updates from our Istanbul office and verified communication with partner banks. It is intended for informational purposes.