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Opening an account in Turkey

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    Opening an account in Turkey and everything you need to know…

    When it comes to investing in a country, the first thing you need to do is have a bank account. A bank account is required for any transaction that requires a bank transfer. In this article, we are going to review the conditions for opening an account in Turkey and its rules. This article is based on the latest laws developed in 2020 and 2021. If you are planning to invest in Turkey and, consequently, to open an account in this country, join us for complete information on the banking laws of this country.

    Due to the need to open an account in Turkey, get in touch with us as soon as possible to receive guidance and take the necessary steps.

    Opening an account in Turkey

    It is possible for Iranians to open an account in Turkey in two banks, “Zaraat Bank” and “Ish Bank”. These two banks have many branches in different cities of Turkey and you will not have any problem accessing these banks. You do not need a Turkish passport to open an account in “Zaraat Bank” and “Ish Bank” and Iranians living in Turkey can go to these two banks and open an account with their Iranian passport.

    The process of opening an account in Turkey is not difficult and time consuming at all and you can easily have your bank account in a short time. Keep in mind that having a tax number is required for all citizens as well as foreigners to have a bank account in Turkey. As a result, you must first go to the tax office and get a tax number. The documents required to obtain the original passport tax number are a copy of the photographed page and a copy of the page with the last stamp of your entry into Turkey. Receipt of tax number (Vargi nomarasi in Turkey) is also done completely free of charge in all Turkish tax offices. Getting a tax number from the Turkish Tax Office takes only a few minutes, after which you can go to one of the two banks “Zaraat Bank” and “Ish Bank” to open an account in Turkey.

    Bank accounts in Turkey can be opened in different currencies, including Euros, Dollars and Turkish Liras. By opening an account and having a bank card, which is the same as “Visa Card” or “MasterCard”, you can easily buy from stores in Turkey, as well as other countries that cooperate with “Zaraat Bank” and “Ish Bank”. Keep in mind that the bank card will not be delivered to you at the time of opening the account and you will have to go to the bank in another week to receive it.

    Important information for opening a bank account in Turkey

    "Zaraat Bank" and "Ish Bank" branches in Turkish cities

    Zaraat Bank and Ishbank have branches in various cities in Turkey, including Istanbul, Antalya and Izmir. The process of opening an account in Turkey is the same for both banks.

    Opening a bank account in Turkey for non-residents

    Turkish banks have made it possible for foreigners to have accounts with non-residents in Turkey. All foreign natural and legal persons can easily have a bank account in Turkey and transfer their capital to Turkey.

    Necessary measures to open a bank account in Turkey for individuals

    Although it is not necessary to be a resident of Turkey to open a bank account in Turkey, it is necessary to provide an address to the bank in order for the relevant notifications to be sent to that address by the bank. The address must be in Turkey. After submitting the required documents along with the tax number of your bank account, it will be usable and you can use banking services by transferring money and depositing money to it.

    Necessary measures to open a bank account of legal entities or companies

    To open a legal account, only a company manager who has the authority to sign can apply to open an account in Turkey. Official translation of company documents is required to obtain a tax number from the Turkish Tax Administration. Foreign companies can have a bank account without the need for an office or representative office in Turkey. As mentioned, having an address is required to receive bank notifications.

    The best bank in Turkey in 2019

    Ziraat Bank is one of the banks where it is possible to open an account for foreigners. In 2019, this bank was selected as the most valuable bank in Turkey. This bank has a history of more than 150 years and for this reason is a reputable bank for investment. Due to Turkey's economic security, investing in Turkish banks is highly secure and the possibility of losing capital is almost zero.

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