You will need a Turkish bank account, probably a current account (vadesiz hesap). Non turkish residents can open a non-resident account (banka hesap). You will be provided with a chequebook (cek karne) and an ATM card, although cheques are not used with the same frequency as in the UK.
Note that post-dating a cheque is ineffective, it can be drawn on immediately. Many Turks ask for cheques to be made out to the hamline i.e. cash, to avoid declaring it for tax purposes.
Documents for foreigners required to open a turkish bank account
Notary certified passport translation
Tax number from the state tax office
Proof of address abroad (utility bills accepted)
Residents have 1% of interest earned deducted direct for tax purposes, though you can recover this if you are not liable for tax. Bank charges in Turkey are high, even for routine operations. Commission on transfers out of Turkey varies tremendously.
Opening a new bank account with multiple currency options (USD, GBP, EURO) that only takes 10 minutes, and documents required are your passport translation into turkish and tax number that our agents can help you obtain while local.
This is an extract from The Expat Guide to Living and Working in Turkey, by Expat Arrivals. Further details on this subject are to be found in The Expat Guide to Living and Working in Turkey.
Buying a Property Turkey, 2nd Edition Book
by John Howell
Uncovers the best places to buy - gives the lowdown on visas, job-hunting and education - covers the details of finding a property: choosing types of accommodation, renovating and security - offers specialist advice on mortgages, taxes, surveys and conveyancing - helps with the challenges of settling in:
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Central Turkey 52
Istanbul and Around 56
Travelling to Turkey 67
Choosing an Area 74
Choosing a Property 80
How to Find Property 93
Options Other than 101
Home Utilities 193
The Internet 200
Owning a Car 208
Major Resources in Britain 07