Can Foreigners Open a Bank Account In Turkey?

Yes, it is possible for foreign nationals in Turkey to open an account in banks in Turkey. You can easily open a bank account in Turkey. It is also possible to open an account with a power of attorney if the power to open an account is clearly stated.

The banking sector in Turkey is highly developed and there are 50 different banks with domestic and foreign capital in Turkey.

There are state-owned deposit banks, private-capital deposit banks, foreign-owned deposit banks, development and investment banks in Turkey. State-owned banks are Ziraat Bank, Halk Bank and Vakıfbank.

Other than state-owned banks, Türkiye İş Bank, Yapı ve Kredi Bank, Garanti Bank, Akbank, Finansbank, Denizbank and TEB are the banks that have the highest number of branches in Turkey.

List of the banks located in Turkey:

List of Banks

What Are The Conditions To Be Met For Foreigners To Open A Bank Account In Turkey?

The requested documents can differ for every bank. Specific rules and conditions should be researched before the application.

In order to open a bank account in a bank in Turkey, banks request some information and documents from the applicant. The below are the minimum information and documents requested by banks, and there may be additional documents and information that each bank may request.

1) Passport

2) Residence address/Document showing the residence address. (A billing address etc.)

3) Tax number: The foreigner needs a potential tax number to be given to him as a result of an application made to the tax office with his passport and residence address.

4) Mobile phone number

When opening a bank account for foreigners, a passport is a mandatory document.

Also, if there is no residence address or the residence is not determined, a notification address must be determined for the procedures.

Documents needed to open a bank account for foreigner who reside in Turkey and for foreigner who don’t reside in Turkey may differ.

If the applicant is a legal person, the requirements are as follows:

• The authorization to apply for a bank account on behalf of the company is possible if the application is made by the authorized signatory.

• As with the conditions sought for natural persons, the company must have a tax number obtained from the tax offices in Turkey before applying for a new bank account. This company, on whose behalf a tax number is obtained, will not be required to be active. It is possible to request the tax number of the company that only has the residence address.

• The company's articles of association, chamber of commerce registration, company formation documents, certificate of good standing and the records in the trade registry must also be submitted to the bank.

How Can a Foreign National Obtain a Tax Number?

Foreign nationals who want to open a bank account in Turkey must also submit their tax identification number to the bank. The tax identification number can be obtained from the tax offices. To obtain a tax number, you must apply to the tax office with your passport and residence address.

What Are The Advantages Of Foreigners Opening a Bank Account In Turkey?

With the bank account they are going to open, it is possible for people residing in Turkey or having connections with Turkey to use their money freely and access their money whenever they want. The opened bank account can be easily used for many transactions such as shopping, internet shopping, withdrawing cash and deposit. In addition, you will have the opportunity to use your savings with deposit interest. Also, banks have offered some foreign customers the opportunity to receive credit cards. Foreign citizens who want to get a credit card can get a credit card if they have a regular income.

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