Expatriate Banking

It has become very easy for foreigners to open an account in Turkish banks. All the foreigners and foreign companies can easily open an account and operate their money in Turkey. Especially after the war in Middle East, a critical amount of Arab capital was transferred to Turkish banks. The actions required for foreigners and foreign companies to open a bank account in Turkey are as follows:

Opening an Account in Turkey for Non-Turkish Citizens

It is possible for foreign companies and foreigners who are non-Turkish citizens to open a bank account in behalf of a person or a company without the necessity of being a resident in Turkey.

Necessary Actions for Opening a Personal Account

  1. First of all, you should indicate a permanent address. (A place where you or your acquaintance lives)
  2. You should go to a tax office in person with your passport, get a tax identification number for foreigners and register. All of the tax offices do this procedure free of charge. (If there is no queue, you can do this procedure in 30 minutes.)
  3. You can open your bank account, transfer money, play in the stock market and do other procedures with this tax id number by going to the branch bank you want to open an account in.
  4. You can open a dollar, euro and Turkish lira account in a bank.
  5. It is not an obligation to reside in Turkey. You can do every procedure online; but some banks may want Turkish mobile phone number.

Necessary Actions for Opening a Company Account

  1. Unlike a personal account, a company account can be opened by the authorized signatory director.
  2. A tax id number can be gotten in behalf of a company by going to a tax office with the translated documents. It is not an obligation for the company to have an office or agency in Turkey or to be engaged in commercial activity. A permanent address is enough for it.
  3. You should go to a bank with the tax id number you have gotten. Banks require all of the documents related to the company such as notarized translation of the articles of the association, the chamber registration, the register entity, the article of the organization, the operating certificate and a license (if existed).
  4. Companies can open any account they want and do all the procedures online.

-There is no limit in the accounts of Turkish banks; so, the amount of money does not affect the account procedures.

-Turkish banks offer secure environment just as Swiss banks.

We have agreements with all of the banks which make expatriate banking in Turkey. You can get consultancy service from us about your banking procedures.