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Opening a bank account in Turkey
Turkey is a gateway between East and West, and it is a station for foreign and Arab investors, regardless of their fields of work and interests

Opening a bank account in Turkey

as some of them preferred to work in the commercial field and others headed towards the industrial sector, and a large percentage of Arab investors tend to invest in the Istanbul real estate market.

With the great Arab turnout that Turkey has witnessed in the past years, the Turkish government has provided a package of facilities to Arab and foreign investors. Where many laws were issued that facilitate routine procedures for businessmen, such as establishing companies, and the right of foreigners to own real estate in Turkey, while enabling them to open bank accounts.

In order to run their business, they need to have bank accounts in their names, as many procedures in Turkey require a bank account, especially for investors looking for apartments for sale in Istanbul for the purpose of investment. They need the bank account to transfer the price of the apartment or in money transfers to and from Turkey.


Types of bank accounts in Turkey:

Current accounts:

·       These accounts are not limited to a certain period

·       Money can be withdrawn at any time

·       No profits are calculated upon deposit

Participatory accounts:

• A joint account between you and the bank

• Revenues are distributed within a profit or loss sharing principle

• The rate of return is determined at the end of the account period and not at its beginning

• In the two previous types, you can open one or more accounts in different currencies such as the Turkish lira, the dollar and the euro

Gold Current Accounts:

• These accounts are not limited to a certain period

• Used for savings in the form of gold

• Banks that deal with real gold issue certificates for the value of what you save in gold in your account


What are the papers required to open a bank account in Turkey?


• TC Turkish residence number

•Tax Number

• A proof of official residence

Most banks welcome people with money and even middle-income people to open a bank account in Turkey


What are the advantages of opening a bank account in Turkey?

The advantages of opening a bank account in Turkey are many, but on the other hand, we no longer count them as advantages, because they have become important life matters, and in the near future, dealing through banks will become an indispensable part of life matters, and the most important of these features:

• Payment of subscription fees "water - gas - electricity".

• Money transfers in all its forms.

• Currency exchange through banking applications.

• Online purchase.

• Payment of all fees and taxes related to the state.


What are the best and best banks in Turkey?

Ø Turkish banks are always competing to provide the best services to their customers.

Ø In light of attracting capital to Turkey through many different investment methods, such as real estate investment by purchasing a property or investing by depositing 500 thousand dollars, on the other hand, Turkish banks are competing with each other to gain the satisfaction of money owners through the distinguished services they provide.

Ø In this regard, we note that in Turkey there are two types of “private” banks and public banks, and the most important difference between them is that the “public” state banks are 100 percent safe and sound, and the other difference is that private banks add some advantages to their customers more than public banks.


How to obtain a credit card for foreigners in Turkey:

After you open your bank account, you can request your own credit card to use it to withdraw cash from an automated teller machine, to buy products online, to pay for grocery or restaurant purchases, to obtain simple financing, or even to save Your money is in a safe place instead of it being lost or stolen in your pocket. You can also use it to send money and save your rights when you owe money to anyone.

And you must pay 1,000 Turkish liras or more to obtain the credit card, and this amount is reserved for the duration of your possession of the card, and you can recover it in the event of closing the account.


Why do I need to open an account?

Many foreigners come to Turkey to buy a property and make an investment. Turkey provides many amenities for foreigners when buying a property. But first you have to open a Turkish bank account. In this way, you can get credit, transfer money, and give an automatic payment order for your bills thanks to the bank account. Opening a bank account in Turkey is a simple and straightforward process. But you have to be careful about some key details


What are the most important banks in Turkey?

1- KUVEYT TURK: It has more than 350 branches distributed between Turkey and Kuwait.

2- Turkish Agricultural Bank ZIRAAT BANK: It is considered one of the largest and oldest Turkish banks, with more than 1540 branches within Turkey, in addition to the presence of several branches outside Turkey in Greece - Saudi Arabia - Cyprus - Baghdad.

3- Turkish Business Bank İş Bankası: It is one of the largest banks in Turkey, with more than 1,000 branches in Turkey and branches in some European countries.

4- ANADULU BANK: It is considered one of the most important banks in Turkey and is concerned with supporting small and medium enterprises. It has more than 120 branches within Turkey.

5- Turkish AKBANK: It has more than 1,000 branches in Turkey and has been ranked among the top 500 banks around the world.

6- FINANSBANK: It is considered one of the best financing banks in Turkey, it owns more than 500 branches within Turkish territory, and it ranks fifth among private banks in Turkey.

7- Garanti: It is the second largest private bank in Turkey, and one of the most important banks that provide services in the field of insurance. It has more than 1,000 branches within Turkey, and a number of branches outside the country.

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