Opening a corporate account with a bank in Turkey

opening a corporate account in Turkey

Stable banking system, strong economic position, unbiased attitude towards non-resident companies - Turkey attracts foreign businesses and a wide range of banking products.

You need the service of opening a bank account in Turkey for a non-resident company if:

  • the banks where your company is served have been sanctioned or are restricting international transactions;
  • Your bank does not support multi-currency accounts;
  • You cannot invest in overseas projects. 

Advantages of opening a bank account in Turkey for a foreign company

  • no minimum balance obligation;
  • ability to manage accounts via online banking, 24/7 support;
  • multi-currency accounts: USD, Euro, Turkish Lira, GBP; 
  • You can use your account for investing free funds, get profitable interest on deposits;
  • deposits are protected by state guarantee. This provides an additional level of security and protection of the invested funds;
  • after opening a corporate account, it is possible to open a personal account and issue a debit card. 

Processes which are taken care of by Intelligent Solution Group's banking specialists

To choose the right bank, we conduct an in depth analysis of your case, identify weaknesses and help you to prepare the company's profile in accordance with the requirements of Turkish banks.  

We also take a closer look at the terms and conditions offered by the Turkish banks:

  • The bank's reputation, its operating history, to make sure that the bank is reliable and stable.
  • Availability of required services: online banking, international payments, the ability to open accounts in different currencies, etc.
  • Compare service costs and capabilities of the banks in order to find the best option.
  • Language support in your native language or the language your company speaks, to ensure better communication.
  • The bank's level of service and customer feedback to understand how competent and responsive the bank's staff are.
  • The level of privacy and protection of your company's data.

Overall, choosing the best bank in Turkey for your company should be based on a thorough analysis and evaluation of all the above factors to ensure the best conditions for your business to run smoothly.

After an in-depth study of the case, the objectives and the client's desired outcome, we:
  • Apply to several banks, which we pre-select;
  • We help you pass bank inspections: KYC, Compliance;
  • We negotiate on your behalf with the bank officers;
  • We help you to get a TIN in Turkey for the opening of a corporate bank account;
  • We will notify you once the account opening process is completed;
  • we can also provide you with additional services such as online banking, debit or credit card, private account opening in Turkey, Turkish citizenship;
  • if you have any difficulties in communication with the bank already in progress, we will always help you - just write to your manager. 

Intelligent Solution Group guarantees the opening of a bank account in Turkey as well as the efficient and fast processing of all necessary documents and formalities. Contact us for more information on pricing and timing.


Is a Turkish TIN required to open a corporate account?

You can only open a bank account in Turkey if you have an individual tax number (TIN). This is regulated by the country's tax legislation. In order for a foreign company to obtain a Turkish tax number, it is necessary to apply on the website of the tax office or visit it in person. A SIM card with a local number will be required at this stage.

What documents do I need to open an account for a company in a bank in Turkey?

Once the TIN is obtained, the documents can be submitted to the bank:

  • A copy of the company's incorporation documents: these may be the company's articles of association, certificate of incorporation, licences.
  • Documents proving the identity of the authorised person of the company: passport or other identity document such as driving license or ID card.
  • Documents proving the address of the company and the address of the authorised person: Extract from the tax register, utility bill.
  • Documents proving the company's activities: contracts, invoices, balance sheet and historical accounts of the company, etc.
  • A letter of recommendation from a bank with which your company already cooperates: if your company already has bank accounts with other banks, a letter of recommendation from these banks may help speed up the process of opening a new account.
  • Documents proving the source of your company's income: these can be statements of accounts, tax returns.

Documents that require translation are certified at the consulate. At the bank the employees accept the application and draw up the contract. The conditions for opening and maintaining the account vary depending on the bank chosen.

Is a residence permit in Turkey required to open a corporate account?

No, residence permit in Turkey is not required.


Opening a corporate account with a bank in Turkey

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