It is possible for foreigners who visit Turkey frequently or reside here for various reasons to open an account at a local bank.
In the past, it was quite complex and difficult for citizens of different countries to open a bank account in Turkey. However, nowadays, thanks to the development of technology, the whole procedure has become extremely easy and practical.
Anyone who completes the requested documents without attachments can open an account in a short time at the bank of their choice. With these bank accounts, many transactions such as evaluating lucrative savings interest rates, transferring money from abroad, paying bills can be carried out.
In banks operating within the borders of the Republic of Turkey, it is also possible to apply for citizenship by opening a deposit account of 500,000.00 USD or the equivalent of a different foreign currency or Turkish Lira, provided that it is kept in the account for 3 years.
Documents Required to Open a Bank Account in Turkey
This process is actually quite easy once the information and documents requested by the bank to which the application is made are fully provided. The required documents are listed as follows:
Passport: A passport is a mandatory document for almost every legal transaction in a foreign country, and this rule also applies when it comes to creating an account in Turkish banks.
Residence address in Turkey: If the person who wants to open an account does not have an official residence address, the notification address must first be determined.
Tax number: Tax number can be obtained easily by applying to the tax offices with a passport.
The mobile phone number of the person who wants to open an account.
Banks for Foreigners to Open Accounts in Turkey
It is possible for foreign nationals to open an account at any bank in Turkey. It should be noted that the preferred bank can meet the needs and expectations of the person and offer the best service. It is also important that the relevant bank supports the opening of an account in foreign currency.
What kind of advantages does opening a bank account in Turkey provide for foreigners?
Foreign nationals residing or having connections in Turkey can freely access and use their money thanks to the bank account they will open in the country. They are comfortable during many different transactions such as depositing, withdrawing, money transfer, internet shopping. They can also use their savings with deposit interest. Those who want to get a credit card are required to have a regular income.
In addition to the opportunity to acquire citizenship by opening a bank account, the Foreign Exchange Document, which is among the documents required to acquire citizenship by purchasing real estate, must be obtained from a bank operating in Turkey.
