Citizenship

How To Open A Bank Account In Turkey? What Are The Documents Required For It?

Thanks to the geopolitical location, the blooming economy and its significant history, Turkey has become a point where many foreigners strive to come and invest.

In the recent years the Turkish Republic has alleviated the processes to open a bank account in Turkey for foreigners with the means of some regulations in order to increase investment and make it more convenient to foreigners. These regulations will enable a foreigner who has come to Turkey for working to send easily money to his family abroad, they will enable that the daily life of a foreigner will get easier by being able to take advantage of banking processes and they will enable that the investment and company financial activities of foreigners will be realized considerably faster and many more advantages. However the opening procedures of a bank account for foreigners varies from bank to bank. While taking not long in some banks, it can be the opposite in another. Some major Turkish banks are İş Bankası (Isbank), Yapı Kredi Bankası, TEB, QNB Finansbank, Halkbank, Vakıfbank, ING Bank, Akbank, Ziraat Bankası and Garanti Bankası.

How is the Procedure ?

There are two types of opening a bank account for foreign citizens in Turkey; the first one is the procedure to open a bank account for persons and the second one is for accounts in the name of a company.

The legal procedures and principles in order to be able for a foreign citizen to open a bank account in Turkey are listed below:

  • First of all, the person wanting to open a bank account has to determine a correspondence address.
  • Foreign citizens have to own a tax number to be able to open a bank account in Turkey. The foreign citizen can get a potential tax number by visiting a state tax office with his/her within a time that depends on the density of the office.
  • With the tax number received from the tax office, the foreigner will be able to open a bank account and realize banking processes.
  • Some banks may ask for a mobile phone number of its customers. The foreign citizen needs therefore to procure a telephone number from a Turkish operator company.

The legal procedures and principles in order to be able for a foreign company to open a bank corporate account in Turkey are listed below:

  • Contrary to personal bank accounts, corporate accounts can only be opened by the director owning a signing authority.
  • A tax number needs to be procured from the tax office for the company. The company for which a bank account is to be opened, does not need to be located in Turkey or have financial activities in Turkey. It is sufficient to have a correspondence address.
  • In order to open an account, the competent company director applies to the bank together with the tax number and all documents of the company translated and approved by the notary or consulate. These company documents are the main company agreement, trade chamber registries, commercial register, establishment and activity documents and if available licences.

İşbank: Opening a bank account at İşbank is quick and easily. It is necessary to gather the documents below and apply to the nearest İşbank branch.

  • A valid passport not older than 10 years or a valid residence permit ( if both are not available, and official document approved by the Turkish Ministry of Finance validating the national ID document will be accepted)
  • Your Foreigner’s Identification Number or Tax Identification Number
  • Proof (copy of electric, water, natural gas or phone bill addressed to your name and of the last three months) of your valid residence address in Turkey or the printed address on your passport

Garantibank: Visit the branch in order to get a Mobile/Online Banking password to be able to open an account.

Akbank: Visit branch in order to open a bank account or get an online banking password or call the Akbank expat banking service.

Ziraat Bankası: In order to open a Foreign Currency Current Account or a Turkish Lira Current Account you can apply to our branches or our internet branch.

Enes Sahin

Hello, I am Enes, I write content for Expat Guide Turkey every day. Don't forget to check it out!

57 Comments

  1. My son has account in one of ziraat bank, can he open sub account on behalf of me. Would you please advise me, thank you.

    1. Hello,
      Your son can only open a bank account on your behalf if you provide him with Power of Attorney for this purpose. Power of Attorney can be issued either at notary public in Turkey or in Turkish consulate abroad.

      Kind Regards,

      Are you satisfied with the answers we have given to your questions? Ata Institutional Consuntancy would like to know your feedback. Please leave a comment on our page. https://g.page/r/CT9i2JXthUlOEAI/review

  2. Dear Sir,
    I want to open an account in Istanbul.kindly tell us which documents will be required and how many days will be taken for opening an account.
    What you will charge for it.
    Regards
    Habib ur Rehman

    1. Hello,
      Foreigners, who are not residents in Turkey can open a bank account in Turkey for investment purposes under condition that they deposit amount of at least 6000 USD in the account. This amount can not be withdrawn for three months. Residence permit holders are eligible for opening a bank account with no requirement of making a deposit. Bank account can be opened without foreigner’s presence in Turkey under condition that someone within the country would be provided with Power of Attorney for this purpose issued by Turkish Consulate abroad. In order to open the account foreigner’s passport, tax number and if available residence permit card is required.

      Kind Regards,

      Are you satisfied with the answers we have given to your questions? Ata Institutional Consuntancy would like to know your feedback. Please leave a comment on our page. https://g.page/r/CT9i2JXthUlOEAI/review

  3. My dear Sir, I want to open my personal online account in a Turkish bank. Please help me so that I can open my online account. I am your servant. Dear Sir?

    1. Hello,
      Foreigners, who are not residents in Turkey can open a bank account in Turkey for investment purposes under condition that they deposit amount of at least 6000 USD in the account. This amount can not be withdrawn for three months. Residence permit holders are eligible for opening a bank account with no requirement of making a deposit. Bank account can be opened without foreigner’s presence in Turkey under condition that someone within the country would be provided with Power of Attorney for this purpose issued by Turkish Consulate abroad.

      Kind Regards,

      Are you satisfied with the answers we have given to your questions? Ata Institutional Consuntancy would like to know your feedback. Please leave a comment on our page. https://g.page/r/CT9i2JXthUlOEAI/review

    1. Hello,
      Foreigners, who are not residents in Turkey can open a bank account in Turkey for investment purposes under condition that they deposit amount of at least 6000 USD in the account. This amount can not be withdrawn for three months. Residence permit holders are eligible for opening a bank account with no requirement of making a deposit. Bank account can be opened without foreigner’s presence in Turkey under condition that someone within the country would be provided with Power of Attorney for this purpose issued by Turkish Consulate abroad.

      Kind Regards,

      Are you satisfied with the answers we have given to your questions? Ata Institutional Consuntancy would like to know your feedback. Please leave a comment on our page. https://g.page/r/CT9i2JXthUlOEAI/review

  4. I need to know i am Pakistani Expat living at kepez Anatalya at my own residence needs to know how do i
    @open my account
    @what documents required
    @Needs to open foreign Currency account
    @I need to move my Currency from Pakistan to Turkish bank
    So do let me know which account and process and documentation do i need to open an Account
    In Turkey

    1. Hello,
      If you are residence permit holder in Turkey you need to visit a branch of preferred bank with your passport, residence permit card and tax number. One the account in TL is opened you can also open accounts in foreign currencies. In most of banks account in foreign currency can be opened through online banking.

      Kind Regards,

      Are you satisfied with the answers we have given to your questions? Ata Institutional Consuntancy would like to know your feedback. Please leave a comment on our page. https://g.page/r/CT9i2JXthUlOEAI/review

  5. Hello,
    Can I open the account through my country Pakistan and I transfer the money from here is that possible

    1. Hello,
      Foreigners, who are not residents in Turkey can open a bank account in Turkey for investment purposes under condition that they deposit amount of at least 6000 USD in the account. This amount can not be withdrawn for three months. Residence permit holders are eligible for opening a bank account with no requirement of making a deposit. Bank account can be opened without foreigner’s presence in Turkey under condition that someone within the country would be provided with Power of Attorney for this purpose issued by Turkish Consulate abroad.

      Kind Regards,

      Are you satisfied with the answers we have given to your questions? Ata Institutional Consuntancy would like to know your feedback. Please leave a comment on our page. https://g.page/r/CT9i2JXthUlOEAI/review

  6. I’m Tunisian I need to open a personal account
    Bank in Turkey I need to know the procedures ASAP
    Thank you

    1. Hello,
      Foreigners, who are not residents in Turkey can open a bank account in Turkey for investment purposes under condition that they deposit amount of at least 6000 USD in the account. This amount can not be withdrawn for three months. Residence permit holders are eligible for opening a bank account with no requirement of making a deposit. Bank account can be opened without foreigner’s presence in Turkey under condition that someone within the country would be provided with Power of Attorney for this purpose issued by Turkish Consulate abroad.

      Kind Regards,

      Are you satisfied with the answers we have given to your questions? Ata Institutional Consuntancy would like to know your feedback. Please leave a comment on our page. https://g.page/r/CT9i2JXthUlOEAI/review

    1. Hello,
      Foreigners, who are not residents in Turkey can open a bank account in Turkey for investment purposes under condition that they deposit amount of at least 6000 USD in the account. This amount can not be withdrawn for three months. Residence permit holders are eligible for opening a bank account with no requirement of making a deposit. Bank account can be opened without foreigner’s presence in Turkey under condition that someone within the country would be provided with Power of Attorney for this purpose issued by Turkish Consulate abroad.

      Kind Regards,

      Are you satisfied with the answers we have given to your questions? Ata Institutional Consuntancy would like to know your feedback. Please leave a comment on our page. https://g.page/r/CT9i2JXthUlOEAI/review

  7. Hi there, I currently have a passport with 5 years validity, tax ID number and a house rental contract under my name. My residence permit application is still under process.
    May I know if these documents are sufficient to open a bank account here in Istanbul? If yes, which bank should I approach?

    1. Hello,
      Foreigners, who are not residents in Turkey can open a bank account in Turkey for investment purposes under condition that they deposit amount of at least 6000 USD in the account. This amount can not be withdrawn for three months. Residence permit holders are eligible for opening a bank account with no requirement of making a deposit.

      Kind Regards,

      Are you satisfied with the answers we have given to your questions? Ata Institutional Consuntancy would like to know your feedback. Please leave a comment on our page. https://g.page/r/CT9i2JXthUlOEAI/review

  8. Helo sir/madam i am a pakistani and i have valid pasport and apply trp from turky. In process. I want to do bussiness in turky and i want to open personal acc. 1st of all. Kindly guide me. Thanks and regards.

    1. Hello,
      Foreigners, who are not residents in Turkey can open a bank account in Turkey for investment purposes under condition that they deposit amount of at least 6000 USD in the account. This amount can not be withdrawn for three months. Residence permit holders are eligible for opening a bank account with no requirement of making a deposit.

      Kind Regards,

      Are you satisfied with the answers we have given to your questions? Ata Institutional Consuntancy would like to know your feedback. Please leave a comment on our page. https://g.page/r/CT9i2JXthUlOEAI/review

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