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Updated: June 2026

Case study · Turkey · Citizenship

How a Lebanese Businessman Opened Ziraat Accounts Without a Frozen Deposit Thanks to Property Ownership

When your country's banking system collapses, you seek a second passport or residence status not out of choice, but out of necessity to save your capital—and you encounter the distrust of foreign banks. Fadi, a businessman from Beirut, survived the collapse of Lebanese banks and wanted to relocate his business to Turkey, but local banks required a frozen deposit as a guarantee. We explain step-by-step how purchased real estate allowed him to open accounts at the state-owned Ziraat without a deposit—as a major foreign investor—and obtain a residence permit.

Dmitry NagyDmitry NagyInternational Tax Consultant, BRIDGESReading time9 min readVerificationReviewed by an expert

This case is based on a real matter. The name and certain identifying details have been changed to protect confidentiality.

BRIDGES client story - How a Lebanese Businessman Opened Ziraat Accounts Without a Frozen Deposit Thanks to Property Ownership
Contents

Case at a glance

Situation, solution and outcome in seven lines

Client
Fadi, approximately 49 years old, trade sector, from Beirut; family of 3
Context
Collapse of Lebanese banks, need to relocate business to Turkey
Barrier
Turkish banks require frozen deposit as guarantee
Program
Turkey, Residence Permit based on Real Estate Ownership (İkamet, short-term residence permit for 2 years)
Solution
Purchase of real estate (substantial amount) → Ziraat accounts without deposit
Bank Status
Major foreign investor, VIP terms
Result
Accounts opened without deposit, residence permit obtained

Client story

Client's Story

Where they started

Fadi is a businessman from Beirut who experienced what became a catastrophe for many Lebanese: the collapse of the banking system, when people's money became effectively locked in failed banks. He learned a harsh lesson—capital must be held in a reliable jurisdiction, and he decided to relocate his business to Turkey, a stable country in the region.

Why the standard route did not work

But distrust caught up with him here too. Turkish banks, aware of the Lebanese crisis and general AML risks (anti-money laundering requirements), were cautious with clients from Lebanon and demanded a substantial guarantee—a frozen deposit, say, one hundred thousand dollars, which would be locked. For a person who had just been burned by money frozen in Lebanon, freezing funds again here was both painful and illogical.

What BRIDGES had to solve

The key was to provide the bank with a different, more substantial guarantee of reliability than a frozen deposit. And that guarantee could be real estate: if a person purchases property in the country for a substantial amount, he is no longer a questionable client to the bank, but a serious foreign investor who has invested in the local economy. Property speaks louder about intentions than a frozen deposit.

Why a standard answer would not do

Fadi approached BRIDGES, understanding that the task was twofold: on one hand, to obtain a residence permit based on real estate ownership, and on the other, to use this same property as leverage to open accounts at the reliable state bank Ziraat without the humiliating frozen deposit.

Ziraat wanted me to freeze a deposit. Nikos showed that with property the accounts could be opened without it. The accounts are open, residence granted.

Fadi, 49 · Fadi, from BeirutThe name and certain identifying details have been changed to protect confidentiality.

What Was at Risk

What Was at Risk

After the collapse of his country's banks, a businessman seeks a reliable jurisdiction, but encounters the distrust of foreign banks. Due to AML risks, they demand a frozen deposit as a guarantee. For someone who has already been burned by locked funds, a new freeze is painful. A different, more substantial guarantee of reliability is needed.

Turkish banks require frozen deposit as guarantee;

  1. 01After the collapse in Lebanon, freezing money again is unacceptable;
  2. 02A client from Lebanon is viewed cautiously due to AML risks;
  3. 03Without an account, it is difficult to relocate business operations and conduct business;
  4. 04Capital is at risk, and a reliable jurisdiction is inaccessible.

The logic of the solution

How the matter progressed: from checks to result

The chart is built from the facts of this matter and shows the logic of the work without decorative or unverified data.

  1. 01
    Stage 1

    We abandoned the frozen deposit logic. First, we established a principle: after Lebanon, a new freeze of funds is the worst solution, and we will not pursue this path. The task was to provide the bank with a different, more substantial guarantee. This immediately shifted the strategy from "how to scrape together a deposit" to "how to make the client desirable without it."

  2. 02
    Stage 2

    We used real estate purchase as a signal of seriousness. Fadi was going to buy real estate for a Residence Permit anyway—we turned this into leverage for the bank. An acquisition for a substantial amount (above a significant threshold) is a signal: the person is investing in the country's economy seriously. The complexity lay in structuring the purchase and confirming the source of funds impeccably, since the client from Lebanon faces special AML scrutiny.

  3. 03
    Stage 3

    We prepared a file given special attention to the Lebanese client profile. Knowing banks' caution toward Lebanon, we assembled a transparent picture in advance: origin of capital, legality of business, flow of funds. This removed AML suspicion not through promises but through documents—so that distrust would not override even a substantial property-based guarantee.

  4. 04
    Stage 4

    We opened accounts at Ziraat as a major investor. Based on purchased real estate, we approached the state-owned Ziraat and structured accounts not as for an ordinary cautiously accepted client, but as for a major foreign investor. Property serving as a guarantee allowed us to dispense with a frozen deposit—the bank received what it wanted in a more convincing form.

  5. 05
    Stage 5

    We linked the real estate to grounds for a Residence Permit. The same apartment served dual purposes: we verified title clarity and SPK valuation so the property confidently served as grounds for a Residence Permit. One asset closed two problems at once—both the banking and immigration issues.

Takeaway. Conclusion: A frozen deposit is not the only guarantee for a bank. Real estate purchased for a substantial amount transforms a cautiously accepted client into a major investor, opens accounts without freezing, and simultaneously provides grounds for a Residence Permit.

How we solved the problem

How we solved the problem

The work was split into verifiable stages so that every conclusion rested on documents.

  1. 01

    We abandoned the frozen deposit logic

    First, we established a principle: after Lebanon, a new freeze of funds is the worst solution, and we will not pursue this path. The task was to provide the bank with a different, more substantial guarantee. This immediately shifted the strategy from "how to scrape together a deposit" to "how to make the client desirable without it."

  2. 02

    We used real estate purchase as a signal of seriousness

    Fadi was going to buy real estate for a Residence Permit anyway—we turned this into leverage for the bank. An acquisition for a substantial amount (above a significant threshold) is a signal: the person is investing in the country's economy seriously. The complexity lay in structuring the purchase and confirming the source of funds impeccably, since the client from Lebanon faces special AML scrutiny.

  3. 03

    We prepared a file given special attention to the Lebanese client profile

    Knowing banks' caution toward Lebanon, we assembled a transparent picture in advance: origin of capital, legality of business, flow of funds. This removed AML suspicion not through promises but through documents—so that distrust would not override even a substantial property-based guarantee.

  4. 04

    We opened accounts at Ziraat as a major investor

    Based on purchased real estate, we approached the state-owned Ziraat and structured accounts not as for an ordinary cautiously accepted client, but as for a major foreign investor. Property serving as a guarantee allowed us to dispense with a frozen deposit—the bank received what it wanted in a more convincing form.

  5. 05

    We linked the real estate to grounds for a Residence Permit

    The same apartment served dual purposes: we verified title clarity and SPK valuation so the property confidently served as grounds for a Residence Permit. One asset closed two problems at once—both the banking and immigration issues.

  6. 06

    We obtained the Residence Permit and relocated the client's affairs to Turkey

    Fadi received accounts at Ziraat without freezing and a Residence Permit based on real estate. The capital he had saved after the Lebanese collapse finally stood in a reliable jurisdiction and was not locked again—property proved to be the best of guarantees.

How the work went

From first contact to the result

  1. 01We abandoned the frozen deposit logic
  2. 02We used real estate purchase as a signal of seriousness
  3. 03We prepared a file given special attention to the Lebanese client profile
  4. 04We opened accounts at Ziraat as a major investor
  5. 05We linked the real estate to grounds for a Residence Permit
  6. 06We obtained the Residence Permit and relocated the client's affairs to Turkey

The sequence and timing reflect this specific case and depend on how complete the documents are and on the decisions of the competent authorities.

Expert comment

Lebanese clients after the banking collapse—this is a special, difficult story, and I understand it. People's money was locked, trust in banks was destroyed, and Turkish banks still demand a frozen deposit as a guarantee. Asking someone who was just burned by freezing to freeze money again—that is both painful and illogical. I look for another guarantee. And it exists—property. When a client buys real estate for a substantial amount, for the bank he is no longer a questionable Lebanese, but a serious foreign investor. We structured Fadi's purchase, impeccably confirmed the source of funds—for Lebanon this is under special AML scrutiny—and opened him accounts at the state-owned Ziraat as a major investor, without any deposit. The same real estate provided a Residence Permit. One asset, two objectives. I always consider how the client's status will play with the banks later—here it aligned perfectly.

Dmitry Nagy, International Tax Consultant, BRIDGESDmitry NagyInternational Tax Consultant, BRIDGES

Outcome

What the client received

What was required
How we accomplished it · Result
Move away from frozen deposit
Property as substantial guarantee · Without freezing
Remove AML suspicion toward Lebanon
Transparent file and source of funds · Bank trust
Open accounts at Ziraat
Major investor status through real estate · VIP terms
Obtain Residence Permit
Same real estate as grounds · Status formalized
Obtain Residence Permit
Same real estate as grounds · Status formalized

Background: After the Lebanese banking collapse, a businessman wanted to relocate operations to Turkey, but banks required a frozen deposit, which was unacceptable after funds locked in Lebanon. What we did: abandoned frozen deposit logic; used substantial real estate purchase as a seriousness signal to the bank; prepared a transparent file given special AML attention to the Lebanese profile; opened accounts at Ziraat as a major investor without a deposit; linked real estate to grounds for a Residence Permit. What the client received: accounts at Ziraat without freezing and a Turkish Residence Permit.

Practical takeaway

What matters in a similar situation

  • Conclusion: A frozen deposit is not the only guarantee for a bank. Real estate purchased for a substantial amount transforms a cautiously accepted client into a major investor, opens accounts without freezing, and simultaneously provides grounds for a Residence Permit.
  • Fadi preserved his capital after the Lebanese collapse and established his affairs in a reliable jurisdiction—his property became both status and the best of bank guarantees, without a new freeze of funds.
  • Buying property and then opening accounts at a state bank without a deposit solves this task together with obtaining residence. We will look at your situation.

FAQ

Questions people ask in a similar situation

01Can one open an account at a Turkish bank without a frozen deposit?

Yes, if you provide the bank with another substantial guarantee. Purchasing real estate for a substantial amount transforms the client into a serious foreign investor, and a state bank like Ziraat opens accounts on VIP terms without freezing.

02Why do Turkish banks require deposits from Lebanese clients?

Due to the collapse of the Lebanese banking system and associated AML risks, banks are cautious and request a guarantee—for example, a frozen deposit. This caution is mitigated by transparent documentation and a stronger guarantee in the form of property ownership.

03How does real estate help with the bank?

A large-sum purchase signals seriousness: the individual is investing in the country's economy. For the bank, this transforms a cautiously accepted client into a major investor, which opens accounts without a frozen deposit.

04Can a single property provide both a bank account and residence permit?

Yes. Purchased real estate simultaneously serves as a guarantee for the bank and grounds for residence permit (İkamet). The key is clear title and SPK valuation above the threshold, so the property confidently supports residency status.

05How important is source of funds for a Lebanese client?

Very important: such clients receive special AML attention. Capital origin and money flow must be documented and transparent; otherwise, the bank's caution will override even a substantial property guarantee.

06Which documents were key in this case?

We abandoned the frozen deposit logic. First, we established a principle: after Lebanon, a new freeze of funds is the worst solution, and we will not pursue this path. The task was to provide the bank with a different, more substantial guarantee. This immediately shifted the strategy from "how to scrape together a deposit" to "how to make the client desirable without it." We used real estate purchase as a signal of seriousness. Fadi was going to buy real estate for a Residence Permit anyway—we turned this into leverage for the bank. An acquisition for a substantial amount (above a significant threshold) is a signal: the person is investing in the country's economy seriously. The complexity lay in structuring the purchase and confirming the source of funds impeccably, since the client from Lebanon faces special AML scrutiny.

07Why did the standard route not suit the client?

But distrust caught up with him here too. Turkish banks, aware of the Lebanese crisis and general AML risks (anti-money laundering requirements), were cautious with clients from Lebanon and demanded a substantial guarantee—a frozen deposit, say, one hundred thousand dollars, which would be locked. For a person who had just been burned by money frozen in Lebanon, freezing funds again here was both painful and illogical.

08What risk had to be closed before filing?

After the collapse of his country's banks, a businessman seeks a reliable jurisdiction, but encounters the distrust of foreign banks. Due to AML risks, they demand a frozen deposit as a guarantee. For someone who has already been burned by locked funds, a new freeze is painful. A different, more substantial guarantee of reliability is needed. Turkish banks require frozen deposit as guarantee;

09How did BRIDGES check that the chosen solution would hold?

We linked the real estate to grounds for a Residence Permit. The same apartment served dual purposes: we verified title clarity and SPK valuation so the property confidently served as grounds for a Residence Permit. One asset closed two problems at once—both the banking and immigration issues. We obtained the Residence Permit and relocated the client's affairs to Turkey. Fadi received accounts at Ziraat without freezing and a Residence Permit based on real estate. The capital he had saved after the Lebanese collapse finally stood in a reliable jurisdiction and was not locked again—property proved to be the best of guarantees.

About the author

Dmitry Nagy

Author: Dmitry Nagy

International Tax Consultant, BRIDGES

I lead the international tax practice at BRIDGES and work at the intersection of tax residence, cross-border reporting and banking compliance. I assess how citizenship, residence, relocation or a new ownership structure may affect the client's tax obligations, banking profile and capital.

My work covers tax residence, CRS and FATCA requirements, source of funds and the questions a bank may raise. These elements should be considered together, because inconsistencies between documents, declarations and the underlying circumstances can create risks after a status has been obtained or an account has been opened.

During the consultation, you will receive an assessment of the tax and banking implications of the proposed decision. Where further work is required, I determine the financial documentation and personally oversee the tax and compliance aspects of the BRIDGES project.

Prepared on the basis of BRIDGES practice and reviewed by a subject-matter expert.

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Dmitry NagyInternational Tax Consultant, BRIDGES
Dmitry Nagy, International Tax Consultant, BRIDGES

Names and certain details have been changed to protect client confidentiality. The result described reflects one specific situation and is neither a public offer nor a guarantee of a similar outcome. Programme terms are stated as of 2026 and may change - please confirm current parameters with a BRIDGES consultant.