OPENING A BANK ACCOUNT IN TURKEY

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OPENING A BANK ACCOUNT IN TURKEY

OPENING A BANK ACCOUNT IN TURKEY

Author

Prykhodko Andrii

OPENING A BANK ACCOUNT IN TURKEY

Opening a bank account for an individual takes an average of 1-5 days.  and for a legal entity (company) – 3-4 weeks, while the account can be opened in several currencies (Turkish lira, dollars, euros, etc.).

Opening a bank account in Turkey: procedure and benefits for Ukrainians

Opening an account in a Turkish bank enables:

  • Safely store your funds in a Turkish or international bank;
  • You receive social assistance from the Turkish government;
  • Get it wages and salaries for employed persons in Turkey;
  • Calculation of fees in non-cash form for services and goods ;
  • Replenishment of bank cards of a non-resident;
  • Receive funds on your own bank card in Turkey;
  • Use of Internet banking.

To open an account in Turkey, you need:

  • o to be present to the founders or the head of the company;
  • have the passport of all the founders or the passport of the manager;
  • have originals and copies of registration documents.

During the opening, personal presence is required, in the future, you can manage the account by proxy.

What documents are required to open an account in Turkish banks :

So, the documents that an individual (Ukrainian or foreigner) needs to open a bank account in Turkey:

  • Identity document (passport);
  • Turkish tax number (issued free of charge by the local tax office);
  • Residence permit (its necessity depends on the bank).

A bank account of an individual in Turkey can be opened for non-residents. Therefore, it is not necessary to be in Turkey to complete the process of opening a bank account. Online transactions outside of Turkey allow opening an account for foreigners. But some banks may require a Turkish mobile phone number to send a text message for verification.

 

In general, the procedure for opening a corporate account of a legal entity is as follows:

  • Preliminary filling of a special bank form for opening a corporate account. In the form, as a rule, it is necessary to describe in detail the type of activity of the company.
  • Preparation of the translation of the company’s corporate documents into Turkish with notarization and copies of the passports of the director, and founders of the legal entity in Turkey;
  • Obtaining a Turkish tax number for the company and personally for the manager of the corporate account;
  • Submission of a package of documents to the bank for opening a corporate account;
  • Visit a company representative at a bank branch, signing of relevant documents, obtain account details, access online banking, etc.

The best bank for opening an account in Turkey (simplified procedure and favorable service rates)

  • Yapı Kredi Bankası-Koçbank
  • Turkey İş Bankası ( Isbank )
  • Garanti BBVA
  • HSBC
  • AKBank
  • Denizbank
  • Finansbank
  • Vakif Bank
  • Half Bank
  • Citibank
  • Deutsche Bank
  • Société Générale

Assistance in opening a bank account in Turkey includes consulting a lawyer on the availability of appropriate documents for opening an account, conditions for opening an account, bank tariffs, escorting to the bank, assistance in filling out bank documents, and other services in the banking sector.

Some banks in Turkey usually send the bank card to your address a few days after submitting the documents, rather than issuing them immediately.

Help in opening a Turkish bank account online

Maybe or not? Opening a bank account in Turkey without personal presence is, from the point of view of the financial structures of the Republic of Turkey, a high risk for money laundering. Bank managers check the documents submitted to the bank very carefully. That is why we recommend contacting specialists who have experience working with banks, understand all the procedures and reasons for refusals, and open a bank account. At the same time, indeed, some banks offer the possibility of opening an account remotely, and our specialists can accompany this process.

Opening and maintaining an account in Turkish banks is one of the main activities of our lawyers and economists. Sign up for a consultation and see for yourself the professionalism.

Importantly! On the websites of many banks, there are hotlines that you can call and find out all the information yourself, but you may encounter the problem of not understanding the Turkish or English language or Turkish or English banking terminology. That is why we recommend that you book a consultation with our lawyers before contacting the banks.

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Lawyer, Doctor of Laws, recognized media expert on legal issues, legal adviser to famous politicians and businessmen.

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