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bank account turkey


How To Setup A Turkish Bank Account

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:

understanding the society, the law and the language.

Click on the book for a free preview of the 2008 edition.

Buying a Property Turkey, 2nd Edition


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
Pensions 186
Home Utilities 193
The Internet 200
Owning a Car 208
Etiquette 215
Education 221
Major Resources in Britain 07
Working 178
Index 274

Click for further help and advice

Mortgages in Turkey


Turkish bank account


Tax considerations


Notary in Turkey


Glossary of Turkish legal terms


Foreign currency exchange

» Legal Advice    
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