How to Open a Bank Account in Turkey as a Foreign Investor

Opening a Bank Account in Turkey

A Turkish bank account can help foreign investors manage property payments, transaction expenses, taxes, rental income and other investment-related financial activity.

Foreign nationals may apply to open an account, but acceptance and documentation requirements vary between banks, branches and individual customer profiles.

Documents Commonly Requested

A bank may request some or all of the following:

• Valid passport

• Turkish tax identification number or foreigner identification number

• Proof of residential address

• Mobile telephone number

• Tax residency declaration

• Source-of-funds documentation

• Residence permit, where required by the bank

• Completed customer and compliance forms

Türkiye İş Bankası identifies passport or other accepted identification and a Turkish tax identification number among the information that may be needed during customer onboarding.

Foreign investors may apply for a potential tax identification number through the Turkish Revenue Administration’s digital services.

Is a Residence Permit Required?

Requirements differ by bank. Some banks may accept non-resident foreign customers, while others may require a residence permit, local address, Turkish telephone number or additional supporting documents.

Investors should confirm the current onboarding policy directly with the chosen bank before visiting a branch.

Source of Funds and Compliance

Banks are required to complete customer identification and compliance checks. Investors transferring significant amounts may be asked to provide evidence explaining the origin of the funds.

Examples may include:

• Employment or company income records

• Property sale agreements

• Bank statements

• Investment account statements

• Inheritance documentation

• Business ownership records

Names, account details and payment descriptions should be consistent across banking and property documentation.

Bank Deposit Citizenship Route

Opening a standard bank account does not automatically qualify an investor for citizenship.

Under the qualifying bank deposit route, the investor must deposit at least USD 500,000 or its equivalent in a bank operating in Türkiye and commit to maintaining the deposit for at least three years. The Banking Regulation and Supervision Agency must confirm the investment.

Preparing Before Your Appointment

Before approaching a bank:

1. Obtain a Turkish tax identification number

2. Confirm the required documents

3. Prepare proof of address

4. Organize source-of-funds evidence

5. Clarify the intended use of the account

6. Confirm whether personal attendance is required

7. Keep all transfer receipts and bank records

Montclair Estates Global Advisory coordinates property investment transactions and helps clients prepare the information required for their acquisition process.

Call to Action

Speak with our advisory team before transferring property or citizenship investment funds to Türkiye.