In a significant policy shift announced by the Central Bank of the Republic of Türkiye, the pathway to Turkish citizenship through YUVAM accounts will cease as of January 2, 2025. This change marks the end of a unique investment opportunity that allowed individuals to obtain Turkish citizenship through specialized bank deposits.
Understanding the End of Turkish Citizenship via Yuvam Accounts
The YUVAM account program, which previously offered a route to Turkish citizenship through a deposit of $500,000 or its equivalent, has undergone substantial changes. These special accounts, designed for non-resident individuals and their foreign-based companies, provided both exchange rate protection and attractive returns under the Central Bank's guarantee.
What's Changing with Yuvam Accounts?
The recent amendments bring several crucial changes:
No new YUVAM accounts for citizenship purposes after January 2, 2025
Existing accounts won't be renewable at maturity
Modified interest rate structures and terms
Impact on Existing Account Holders
For those who already hold YUVAM accounts, here's what you should expect:
Two-year accounts opened before December 23, 2024, will maintain exchange protection until maturity
The final year will transition to a standard Turkish Lira account
Interest rates will follow regular banking terms for the remaining period
Alternative Pathways to Turkish Citizenship
While Turkish citizenship via Yuvam accounts is no longer available, other investment options remain open:
Property investment route (minimum $400,000)
Standard bank deposit investments
Other qualifying investment categories
Important Changes to Account Terms
The new regulations also introduce modifications to general YUVAM account features:
Reduced minimum interest rates (from 70% to 50% of the one-week repo auction rate)
Maximum account terms limited to 12 months
New minimum deposit requirements
Looking Forward: Investment Options in Turkey
For those interested in Turkish citizenship through investment, the property investment route continues to be a viable option. The minimum requirement of $400,000 in real estate investment offers an alternative path to citizenship while potentially providing rental income and capital appreciation.
Making Informed Decisions
If you're considering Turkish citizenship through investment, it's crucial to:
Evaluate all available options
Consult with legal professionals
Consider long-term investment goals
Review current market conditions
This significant change in the YUVAM account program reflects Turkey's evolving investment and citizenship policies. While one door closes, others remain open for those seeking to invest in Turkey and obtain citizenship through investment.
The transformation of YUVAM accounts represents a new chapter in Turkey's investment landscape. Whether you're an existing account holder or considering Turkish citizenship through investment, understanding these changes is crucial for making informed decisions about your future in Turkey.
Remember, while Turkish citizenship via Yuvam accounts will no longer be available, Turkey continues to welcome foreign investors through various other programs and investment routes.
Need Expert Guidance on Turkish Citizenship Investment?
Partner with Kurucuk & Associates, a leading Turkish citizenship law firm, to explore your investment options. Our experienced Turkish citizenship lawyers will guide you through alternative pathways, including the $400,000 property investment route. Contact us today for a personalized consultation on securing your future in Turkey.
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