The Republic of Turkey offers foreigners a number of advantages: from relaxing in comfortable seaside resorts to profitable investments in construction and real estate. The entire financial and economic sphere of the state works like a well-oiled mechanism, and Turkish banks provide a full range of services to local and foreign citizens.
An open account in a Turkish bank allows foreigners to make any non-cash payments, pay for purchases, services, utility bills, fulfill tax obligations, receive salaries and much more. In addition, non-residents who have decided to purchase real estate in Turkey. < /p>
In this review, we have collected for you all the relevant information on how to open an account in a Turkish bank for a foreign citizen and what stages you will need to go through.
Documents for opening an account in Turkey
To open a bank account in Turkey, you will need the following documents:
- Valid foreign passport.
- Internal passport: copy and notarized translation into Turkish of pages with full name and registration.
- Registration card number (TIN) obtained from the regional tax service.
- Document certifying the residential address (tenancy agreement, TAPU, bill for electricity, water or aidat).
- Photo – 3 pcs (3x4).
- Turkish SIM card (not necessary if you do not plan to use online banking services in the future).
- Copy of residence permit, if available.
The standard list can be supplemented depending on the individual requirements of the banking institution. A deposit is placed into the account (the amount depends on the bank and the presence/absence of a residence permit), the amount is frozen for 3-6 months.
A legal entity can open an account in one of the banks in Turkey if it has a tax number for the company. When registering a TIN, the tax office will ask you:
- completed application;
- charter of a commercial organization;
- certificate confirming the company's registered address.
In addition to documents, you will need information about the company employee who has the right to sign and will manage the current account.
Opening an account in Turkey: stages
Almost any bank branch in Turkey provides services to both residents of the country and non-residents. Against the backdrop of an increase in applicants from abroad invest capitalin the economy of the resort state, the government has simplified the procedure for opening a bank account as much as possible. You will need to prepare several documents and come to a meeting with a bank employee.
Before you get a bank card in Turkey, we recommend that you understand what types of accounts are provided by the financial system.
Depending on the clients’ goals, the following are issued:
- Current accounts. Used to save money and make daily payments for goods and services. As a rule, the interest rate is low, and a commission is charged for certain financial transactions.
- Credit cards. For clients who have taken out a bank loan and are repaying the amount in stages.
- Deposit and savings bank accounts. Investors resort to opening such cards to store and increase their savings. They mainly provide for interest payments for storing money.
When opening an account in a Turkish bank, you will need to go through several mandatory steps:
- Get a Taxpayer Identification Number
As we have already clarified, the tax number is issued by Vergi Dairesi Müdürlüğü if you have a passport. The procedure takes a few minutes. - Choosing a banking institution
Specialists from the real estate agency with which you cooperate will advise the most suitable option. - Opening an account
If you have a complete package of documents, opening an account in a Turkish bank takes 15 minutes. Most staff speak fluent English. There are Russian-speaking employees at Mediterranean resorts.
Some institutions issue the card immediately, others – in a few days.
If you have a residence permit, Russian citizens can open an account in Turkey 2022 in almost any bank in the country.
Bank account: advantages and opportunities
A Turkish bank account opens up a number of opportunities for foreigners. Main advantages – this is:
- Prompt account opening.
- Any non-cash financial transactions are carried out as soon as possible.
- Comfortable payment of utility and other bills.
- It is possible to open a foreign currency account in dollars, euros, pounds sterling, lira, etc.
- The service is available to individuals and legal entities.
- Acceptable tariffs for transactions.
- Good interest on deposits in Turkish lira.
- Internet banking for remote control, including through mobile applications.
- You can issue international Visa and MasterCard cards.
- Double taxation is excluded for business organizations.
Which bank in Turkey is better to open an account
Many foreigners are interested in which Turkish bank to open a card in?
The financial system of the Republic of Turkey is based on the work of public and private banks, which provide a full range of banking services.
Representatives of leading private banks of the Republic of Turkey – this is:
- Garanti Bankası
- Akbank
- DenizBank
- Yapı Kredi Bankası-Koçbank
Large government agencies:
- Halkbank
- Ziraat Bank
- VakıfBank
Russian-speaking foreigners choose to open accounts:
- Garanti Bankası
The bank has large financial savings. We have established work with foreigners, providing services for opening a multi-currency account and issuing an international plastic card. Employees speak English. - Akbank
A proven bank with a full range of services: from opening a current account to special offers for expatriates. There are ATMs throughout Turkey. - Türikiye İş Bankası
A large bank with branches in all regions of the state and beyond. In particular, Isbank branches operate in the UK, China and some countries in the Middle East. The financial institution specializes in working with non-residents. Most employees speak several languages. - Yapı Kredi Bankası
The main advantage – the most convenient online banking. There are branches and ATMs in all regions of the country. Clients have access to various types of accounts, the ability to take out a loan and insure property.
The opening of a bank account is accompanied by the signing of an agreement. Check the conditions under which the services are provided: interest rate, validity period, additional payments for information processing, service provided, transactions, currency conversion, etc.
If you are planning to purchase apartments in Turkey through Point Property, our specialists will accompany you during the preparation and conclusion of the purchase and sale transaction. We will also advise and help you open an account in one of the Turkish banks.
These materials have been prepared for informational purposes and are not of a commercial nature.
Point Property – is a certified real estate agency that specializes in providing a full range of real estate services for residential and commercial real estate transactions in Turkey. Our company takes care of all the organizational aspects of a real estate transaction: searching for an object, organizing a sightseeing tour, assistance in collecting documents and checking the legal purity of documentation, support in re-registration of ownership. In addition, we provide our customers with a wide range of after-sales services.
