Many foreigners come to Turkey to buy real estate and make an investment. The first step for foreigners when buying property is to open a bank account in Turkey. It is generally a simple and straightforward process. The main difficulty that foreigners can encounter in this process is the lack of language. Do not worry! We help our clients to open their bank account as in any phase of the purchase of a property with Property Anatolia.
When registering you will need your passport (most banks require a notary approved translation of your passport), a tax identification number and proof of address. The address can be verified through a residence permit (İkamet Tezkeresi) or an electricity bill in your name. This electricity bill could also come from your country. You should see your name and home address on the invoice.
Having a good relationship with your bank is important. We advise our clients to work with only one bank so that they can develop a good relationship with their bank. The more transactions you make through a bank, the better the bank knows about you .
Having a bank account in Turkey offers several advantages. Some of them are;
• You can transfer your money from your country to your Turkey account at any time.
• Create automatic payment for your utility bills.
• There is no need to carry cash. You can use your debit card to make payments.
• Turkish banks offer high interest rates on your savings when you invest in Turkish Lira.
The documents required to open a bank account are as follows:
• Turkish tax identification number.
• Proof of Address – An invoice from the past three months with your name and home address written on it. If the invoice is not in Latin letters, banks will request notarized translations.
No. There are no fees for opening a bank account in Turkey.
After obtaining a tax identification number from the tax office, it takes approximately two hours for banks to check the tax identification number. It takes less than an hour to open a bank account when your documents are ready.
You can open a bank account with any bank in Turkey.
Yes, all banks have their own mobile apps, even they are available in English.
You can open a bank account in Turkey in any currency.
The IBAN number is a combination of the recipient’s SWIFT code and bank account number. You need an IBAN number for each money transfer.
The information required to transfer money to Turkey is as follows;
Full name of recipient:
Full address of the recipient:
Name of the bank and branch:
Bank address of the recipient:
IBAN number of the recipient:
Yes, your money doesn’t have to wait in the bank for any period. However, it is recommended that you notify the bank before one day to withdraw your money for amounts over 50,000 TL.