Iran has been subject to comprehensive US Treasury (OFAC) and EU sanctions for many years. These sanctions do not prohibit Iranian nationals from buying property in Turkey — Turkey is not a sanctions-imposing country and has not adopted US or EU Iran sanctions. However, the sanctions do prevent most international banks from processing wire transfers that involve Iranian parties, Iranian bank accounts, or funds traceable to Iran. This means that the standard SWIFT wire transfer route used by buyers in most other countries is not available to most Iranian nationals.

Iran's Central Bank (CBI) restricts the free export of foreign currency. Iranian nationals are subject to limits on how much foreign currency they can officially purchase and transfer abroad through official channels. The official exchange rate and the open market rate diverge significantly — which creates a complex environment for large transfers such as property purchases.

Turkish banks are required to comply with FATF (Financial Action Task Force) anti-money laundering regulations. When receiving funds from Iranian-connected sources, Turkish banks conduct enhanced due diligence and require documentation confirming the legitimate source of funds. Not all Turkish banks accept transfers from Iranian sources — and those that do have specific procedures that must be followed precisely.

Many Iranian business owners and high-net-worth individuals maintain accounts with UAE banks including Emirates NBD, Mashreq, RAK Bank, and others. The UAE does not apply US Iran sanctions domestically, and UAE-to-Turkey wire transfers are generally processed normally by Turkish banks. The key is that the UAE account must be in good standing, properly documented, and the transfer must be structured correctly.

Since 2022, Georgia has seen a significant influx of Iranian (and Russian) business activity. Georgian banks including TBC Bank and Bank of Georgia have been relatively open to Iranian clients. Georgia-to-Turkey transfers are generally processed without issue. However, Georgian bank compliance departments have become more cautious in recent years — account opening and transfer approval timelines have lengthened.

For a third-country banking transfer to generate valid citizenship documentation, the transfer must arrive in a Turkish bank account in your name, with a clear reference identifying it as a property purchase. The Turkish bank issues the receipt (dekont) and the Central Bank conversion record — which is what the citizenship application requires.

The third-country bank account itself must have a clean, documented source of funds. Turkish banks and citizenship authorities will ask where the money in the UAE or Georgian account came from. A clear paper trail from Iranian business income, property sale proceeds, or other documented sources is essential.

Any amount of foreign currency exceeding the equivalent of €10,000 must be declared on a customs declaration form (Gümrük Beyannamesi) upon entering Turkey. This declaration is stamped by customs officials and serves as legal proof that the cash entered Turkey through official channels. Keep this document — it is essential for the subsequent bank deposit.

The declared cash is deposited into your Turkish bank account, together with the customs declaration form. Turkish banks accept cash deposits for property purchases when accompanied by a customs declaration — this provides the required AML documentation.

For a $400,000 property purchase, this method requires physically transporting $400,000 in cash — which presents obvious security risks and practical challenges. It is more commonly used for portion of a purchase (e.g. a $50,000–$100,000 deposit payment) rather than the full amount. Multiple entries with separate customs declarations are possible but require careful timing and planning.

The Turkish bank will require a source of funds declaration for large cash deposits. Documentation of where the cash came from — business income, property sale, etc. — must be prepared. Your lawyer advises on what documentation is acceptable.

An official receipt from a Turkish bank confirming that funds were received into your account and subsequently transferred to the seller's account (or to the title deed escrow). This is the single most important document. Without it, the citizenship application cannot be submitted.

A document from the Turkish Central Bank (or the bank acting on its behalf) confirming that the purchase funds were converted from foreign currency to Turkish Lira at the official rate, or that the purchase was made in foreign currency. This record is required for the Certificate of Eligibility application.

A written declaration by the buyer explaining the origin of the purchase funds. This document is prepared by your lawyer and submitted with the citizenship application. It should be supported by documentation — business financial statements, property sale contracts, inheritance documents, or other evidence of legitimate wealth.

If funds were received through a licensed döviz office, the official receipts from that office form part of the documentation chain and should be retained and submitted.

If any portion of the funds was brought into Turkey as physical cash, the stamped customs declaration must be retained and submitted as part of the documentation package.

If funds were transferred via cryptocurrency, complete on-chain transaction records, exchange KYC records, and the Turkish bank deposit confirmation form part of the documentation package.