As far as we know, there are only three countries in the world offering direct citizenship for depositing cash in banks or credit institutions. Those are Bulgaria, Egypt and Turkey. No other country than run CBI schemes offer citizenship for depositing money in banks.

Bank deposits in a licensed institution are risk free and safe investments, especially during pandemic when there are uncertainty in global stock markets. Many investors prefer this route, instead of investing in real estate. There is also a possibility to grow your money from fixed or compounded interest.


The Bulgaria fast track citizenship by investment schemes (Article 14a of the BCA) has provisions for granting investors citizenship through deposits in banking institutions.

Bulgaria will give you EU citizenship if you deposit 1 million euros in a bulgarian bank. You can start with the deposit 500,000 EUR during the first year in a licensed bank under trustee agreement in Bulgaria. This will immediately get you permanent residence permit.

Later, the initial investment must be increased or doubled to EUR 1 million to apply under fast track citizenship.  You bank deposit must not used for securing other monetary credits from a credit institution in Bulgaria (this is another condition)

After one year of holding PRP you can apply for bulgarian citizenship. The processing and examination of applications takes another year. All in all you should expect 2 years to get your EU passport issued by Bulgaria.

You must maintain the bank deposit for one year (incase of only PRP) and 5 years for citizenship. You must be very careful when it comes to maintaining investment, else Bulgarian citizenship directorate may revoke citizenship. Note that Bulgaria does not use euro as national currency (Lev)

2. Turkey

Turkey will give you immediate citizenship within three months, if you deposit USD 500,000 or more (in Turkish lira or any foreign currency) in banks operating in Turkey with the condition to hold and not withdraw for least three years, and attested by the Banking Regulation and Supervision Agency

3. Egypt

Egypt will give you a citizenship if you deposit USD 750,000 in egyptian bank held for 5 years. Egypt history dates back to thousands of years back from Pharoah’s boasts of $1.3 trillion economy. This can be attractive for middle east investors.

In June 2019, the Egyptian parliament approved Citizenship for Investment Law aimed at attracting foreign investors to reside in Egypt.

Insured deposits

You must keep in mind in many countries, retail banks insure deposits only upto 100,000 in local currency.  In EU, banks can guarantee upto 100,000 euros..

In Bulgaria, according to the Deposit Insurance Act the Fund guarantees full payment of deposits of one person (whether natural person or legal entity) in one bank regardless of their number and amount as long as it does not exceed BGN 196 000 (equivalent of 100,000 euro).

In Turkey, note that deposit Insurance covers up to 150.000 Turkish Lira (around $13,000) on behalf of depositors with savings deposit accounts,

To be safe you must seek insurance coverage above this sum.

Foreign exchange

You must also watch out for foreign exchange rates, so that you dont lose the principal value. You are better off stick to the currency you hold. Dont convert!

If you are not interested in citizenship, there is a possibility to get golden visa for bank deposits. This is only residency (not citizenship).

Please contact us for a free consultation. Our lawyers can assist you with opening bank account for citizenship in these countries.