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Opening an account with banks of Turkey. Service offer

Open a corporate account with Turkish banks and gain access to European and Asian markets. We offer tailored services, including documentation, tax number acquisition, interview preparation, and in-person support. No minimum balance required. Secure your account with ease.

Contents

  1. Advantages of opening an account in a Turkish bank
  2. Fees
    1. Individual
    2. Legal entity
  3. Detailed description of steps required to open a corporate account*
    1. STEP I
    2. STEP II
    3. STEP III
  4. General requirements of banks of Turkey regarding documents and information*
    1. For an individual (without a residence permit in Turkey)
    2. For an individual (with a residence permit in Turkey)
    3. For a legal entity
    4. For an individual (directors / shareholders / beneficiaries / attorneys)

Advantages of opening an account in a Turkish bank

The strategic location of Turkey provides access to the European and Asian markets;

Banks of Turkey open savings (deposit) and current accounts;

Most banks are oriented towards working with companies incorporated in Turkey; it is also possible, however, to open an account with some banks for a branch of a foreign company;

No requirements regarding minimum balances or deposits for corporate accounts;

No requirements regarding economic substance in Turkey, but having a local office and counterparties in the country will substantially simplify the opening of an account;

A personal visit of the account signatory to the bank, and sometimes the beneficiary (depending on the bank’s requirements), is required to open an account;

They issue bank cards;

Online banking in English.

Fees

Service
Cost

Individual

Services in:
== analysis of information on sources of funds / residency / account balances of an individual;
== individual selection of banks – up to 3 options;
== preparation of banks’ descriptions stating the criteria of selection;
== preparation of a description of further steps of the account opening procedure.
500 USD
Services in:
== obtaining a tax number (including escort by our employee);
== preparation of a detailed description of all further steps of the account opening procedure;
== preparation for the interview;
== interaction with the bank at ALL steps.
750 USD
Escort to the in-person meeting with the bank’s employee, filling out and signing forms
250 USD

Legal entity

Services in:
== analysis of the structure of the company, its activity / business model / turnover;
== individual selection of banks – up to 3 options;
== preparation of banks’ descriptions stating the criteria of selection;
== preparation of a description of further steps of the account opening procedure.
500 USD
Services in:
== collection and analysis of corporate and other documents required to be provided to the chosen bank;
== preparation of a detailed application to open an account, including complete information on the company, its owners and counterparties;
== preparation of a detailed description of all further steps of the account opening procedure;
== preparation for the interview;
== interaction with the bank at ALL steps.
1 900 USD
Escort to the in-person meeting with the bank’s employee, filling out and signing forms
450 USD
Success fee

Additional success fee charged if the account opening takes less time than the average standard time frame of the procedure, which is:
== 3 months for corporate accounts,
== 1 month for personal accounts.
+10%
of the cost of the service
Assistance in opening an account in a complicated case:
1. In terms of the activity:
- licensed activity (investment fund, cryptocurrency, financial technology, production of tobacco products / alcohol / pharmaceutic products, precious metals, etc.);
- trade complicated by the type of goods (raw materials / dual-use goods / medical goods);
- activity of payment agents;
- counterparties partially owned by the state;
- high-risk regions from the FATF list.

2. In terms of the structure:
- there are more than 3 individual shareholders or there is a corporate shareholder in the company;
- non-transparent ownership structure, which includes: public companies / trusts / funds.
+ 450 USD
to the basic cost of the service
Assistance in opening accounts for companies not served by us

You can also contact our consultants to discuss the possibility of transferring the company to our service and consequently decreasing the cost of the service.
+ 20%
of the standard cost of the service
Assistance in opening accounts for non-residents (individuals / legal entities) with banks that mostly work only with local residents (individuals / legal entities)
+ 10%
of the basic cost of the service
Further assistance with the account:
- assistance in setting up and adjusting online banking;
- assistance in establishing interaction with the bank’s representatives on current matters (relationship manager, when applicable);
- organization of a payment policy.
First 3 months – 650 USD.
Then – agreed monthly payment depending on the required scope of work, complexity of the case, etc.
Assistance in opening a personal account concurrently with a corporate account at the same bank
50% off of the cost of the service
Preparation of a business plan, profile of the company (depending on additional requirements of the bank)

Only for the purpose of provision to the bank to open an account (not for attracting investors, marketing or other purposes connected with development of the business).
200 USD / hour (at least 3 hours)
Consultation on the current situation with banks (difficulties, peculiarities, sanctions, etc.) highlighting banks potentially suitable for the certain case, and on other related matters
200 USD / hour
Escort to the bank for an interview with a banker and signing of forms to open an account
400 – 600 USD

Detailed description of steps required to open a corporate account*

STEP I

by filling out a special form we get to know you and your business better and offer several banks to choose from:

individual selection of banks – up to 3 options;

preparation of banks’ descriptions stating the criteria of selection;

preparation of a description of further steps of the account opening procedure.

STEP II

we help you collect the set of documents necessary to open an account;

we help prepare documents and obtain a tax number (including escort by our employee);

we prepare you for the interview by checking the list of necessary documents once again and highlighting the key points, and give a detailed briefing on what questions a banker usually asks and what they want to hear from you;

we arrange a meeting for the account signatory in the chosen bank (or banks, for it is better to play it safe and apply to several banks to increase the chances of opening at least one account).

STEP III

we escort you to the in-person meeting with a banker;

we are responsible for further interaction with the bank after the interview upon the completion of the account opening procedure;

as a result, after a successful opening of an account, you receive account details and online banking access codes.

After that, the process may be considered completed.

General requirements of banks of Turkey regarding documents and information*

For an individual (without a residence permit in Turkey)

  • Proof of tax number in Turkey;
  • Original passport;
  • Notarized translation of the passport into Turkish.

For an individual (with a residence permit in Turkey)

  • Proof of tax number in Turkey;
  • Residence permit (ikamet) or work permit;
  • Document proving permanent residence address (normally, the same document that you provided to obtain your work permit or residence permit suits); the original is not required to be left at the bank, as employees will make a copy and certify it for themselves;
  • Original passport.

For a legal entity

  • Proof of tax number;
  • Directors’ specimen signatures;
  • Certificate of the nature of the company’s business from the chamber of trade;
  • Publication on the company’s incorporation in the official trade registry gazette;
  • Filled out bank’s forms for the company and the owner;
  • Proof of the source of funds, including that regarding the initial deposit;
  • Copies of current contracts / invoices with counterparties;
  • Financial statements, cash flow chart, ownership structure chart, etc.

For an individual (directors / shareholders / beneficiaries / attorneys)

  • Proof of identity (passport);
  • Proof of address (not older than 3 months);
  • CV.

*The list is not comprehensive. The bank has the right to request any other documents and information.

Are you interested in the offer?
from USD 2 200
Download offer in PDF
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