Opening a bank account in Turkey as a foreigner is an essential step for those planning to invest, live, or do business in the country. Whether you're an expat, student, investor, or company owner, understanding the legal and procedural framework in 2025 is critical for smooth financial operations.
Who Can Open a Bank Account in Turkey?
Most foreigners can open a Turkish bank account, including:
- Residents with valid residence permits
- Foreign companies or branches
- Non-residents (with limitations)
- Foreign students with valid IDs
Types of Bank Accounts Available
- Current Accounts: Ideal for daily transactions in TRY, EUR, USD, etc.
- Savings Accounts: For earning interest over time
- Corporate Accounts: Required for foreign-owned businesses
- Investment Accounts: For trading stocks, bonds, or crypto via Turkish banks
Required Documents for Foreigners (2025 Update)
- Valid passport (with translated copy if needed)
- Turkish Tax Identification Number (Vergi Numarası)
- Proof of address in Turkey (utility bill or rental contract)
- Residence permit (if applicable)
- Phone number active in Turkey
Step-by-Step Guide to Opening a Bank Account
- Apply for a Tax Number at a local tax office
- Choose a bank that supports English services (Ziraat, Garanti BBVA, İşbank)
- Visit the branch with required documents
- Complete forms and verify identity
- Receive IBAN and activate online banking
Can You Open a Turkish Bank Account Online?
In 2025, a few banks such as Akbank and Enpara offer remote onboarding, but it generally requires a Turkish phone number and valid tax number. Physical visits are still common for first-time applicants.
Benefits of a Turkish Bank Account
- Free or low-cost local transfers
- Ability to receive international payments
- Debit/credit cards for local and online use
- Paying bills and taxes easily
- Access to investment products and savings interest
Legal Support for Foreign Clients
At ER&GUN&ER Law Firm, we provide professional legal services to assist foreign individuals and companies with banking procedures. From tax number applications to corporate account setup, our multilingual lawyers ensure a seamless and compliant process.