Many foreigners come to Turkey to buy a property and make an investment. The first step for foreigners when buying a property is to open a bank account in Turkey. Usually it is a simple and straightforward process. The main difficulty that foreigners may face in this process is the lack of language. Don't worry! We assist our clients in opening their bank account at every stage of property purchase.

When registering, you will need your passport (most banks require a notarized passport translation), your tax ID number and proof of address. The address can be proved by a residence permit (Ikamet Tezkeresi) or a utility bill issued in your name. This bill may even come from your country. Your name and home address must appear on the invoice.

A good relationship with your bank is important. We recommend that our clients only work with one bank so that they can build a good relationship with their bank. The more transactions you make through a bank, the better you will be known to the bank and the more you will be welcomed.

A bank account in Turkey has a number of advantages. Some of these are;

* You can transfer your money from your country to your own account in Turkey at any time.

* You can execute automatic payment orders for your utility bills.

* You do not need to carry cash with you, but can use your debit card for payments.

* Turkish banks offer high interest rates on your savings when you invest in Turkish Lira.

Frequently Asked Questions (FAQ)

Q: What are the necessary documents to open a bank account?

A: The following documents are required to open a bank account:

• Passport

* Turkish tax number

* Proof of address - A utility bill for the last three months, indicating your name and home address. If the utility bill is not in Latin letters, banks will request notarized translations.

Ziraat Bank

Q: Is there a cost to open a bank account in Turkey?

A: No. You do not need to pay anything when opening a bank account in Turkey.

Q: How long does it take to open a bank account in Turkey?

A: After you get a tax ID number from the tax office, it will take about two hours for your tax ID number to be seen by the banks. Opening a bank account takes less than an hour when your documents are ready.

Q: Which banks in Turkey can I have a bank account with?

A: You can open a bank account at any bank in Turkey.

Q: Are there mobile applications of Turkish banks?

A: Yes, all banks have their mobile applications, even if they are available in English.

Q. What currencies can I have in my bank account?

A: You can open a bank account in Turkey in all currencies.

Q: What is the SWIFT code?

A: SWIFT is an abbreviation for Society for Worldwide Interbank Financial Telecommunication. Each bank has its own fast code. Therefore, each Swift code is a unique registration ID for the bank account. When transferring money abroad, a SWIFT number is enough to define the recipient's bank account at the international level.

Q: What is the IBAN number?

A: The IBAN number is a combination of the recipient's quick code and bank account number. For each transfer you need an IBAN number.

Q: What information do I need to transfer money from abroad to Turkey?

A: For money transfer to Turkey, the following information is required:

Full name of the recipient:

Full address of the recipient:

Bank and branch name:

Recipient's bank address:

Recipient's IBAN number:

Q: Can I withdraw my money the same day it drops in my account in Turkey?

A: Yes, your money does not need to wait at the bank for a certain period of time. However, it is important that you inform the bank the day before withdrawing your money for amounts over 50,000 TL.

Q: Is there a security difference between state banks and private banks?

A: No. All banks are under state guarantee.