Turkey is a strong and stable economy, and its banking sector is just as robust and recommendable. There are a lot of good banks in Turkey, and we cooperate with many of them. However, you should know that opening a personal bank account in Turkey is not an easy thing to do if you have no residence permit or business in the country, and there is only one reliable bank that will set up a non-resident account on such conditions. You are welcome to find out more about it if you can make an initial deposit of 30,000 euros or US dollars.
We would like to invite you to our portal where you can read an article written by our experts on Turkey bank account for individuals and find much more information on the country, including business, relocation, citizenship by investment, investment in real estate to get passive income, and so on. You can also schedule a meeting with our professional free of charge to discuss any of these issues and choose the best option for your needs. You can rely on our assistance, and we will open an account for you at a reasonable fee without much hassle. Please follow the link to talk to us!
Non-Resident Account: Tips, Advantages, and Restrictions
Turkey is a really prosperous country, and establishing a legal entity here would be a great idea. Foreigners flock to the destination to take advantage of local personal and corporate banking, form a company, invest in real estate to rent it out or obtain economic passports for the whole family, and you can join in!
Turkey is also an attractive country thanks to its advantageous geographical location between Europe and Asia, and its sound banking system is yet another asset. The rates offered by Turkish banks are much more reasonable than those you will find in the UAE or other Middle East countries.
Let’s look at the main advantages you will get by opening a personal account with a Turkish bank:
- Turkey (and the Middle East on the whole) is a promising region for life, work, and business
- You can set up an account remotely if you use our assistance
- You are free to open an account in multiple currencies, including such popular options as US dollars and euros
- The bank account opening and maintenance fees are quite reasonable
There is one challenge, though: only local residents can open a bank account in Turkey. Fortunately, we know how to overcome this barrier! Keep in mind, though, that the only way to open a bank account for a foreigner is to use the representative’s services and address the designated Turkish bank. If you have no trusted intermediary who will recommend you as a reliable customer, your application will be turned down in 100% of cases.
The Recommended Bank: Details
Banks that are ready to cooperate with non-residents prefer doing so via trusted intermediaries, and they do not widely advertise the opportunity to avoid excessive attention on the part of regulators. The account is opened on an absolutely legal basis, so there is no need to worry.
The bank we will designate is a proven institution founded about 40 years ago, and it has now expanded to many countries where it has about 200 branches. It offers an extensive range of financial services and more than ten kinds of personal accounts, including investment, escrow, savings, or checking accounts.
You can also obtain a credit or a debit card (both VISA and MasterCard payment systems are available), and it can be a plastic or a virtual one.
You will be able to conveniently manage your funds using a mobile app or an online banking platform. Both SWIFT and EFT payments and transfers will be available to you.
Bank’s Requirements
The bank we recommend requires an initial deposit of 30,000 euros or US dollars as proof of the fact that you are a serious customer, so be prepared to make it. This amount should be kept in the account: you can manage it at your discretion, of course, by spending, investing, or using it in any way, but make sure you regularly replenish the sum. An empty account may push the bank to stop cooperating with you.
Here is the list of documents you will need to submit to open a personal bank account with the recommended Turkish bank:
- Proof of residential address
- Proof of the legal origin of funds
- Passport or any other ID issued by the government
- Duly completed bank forms
- A Turkish tax number (we will help you obtain it. This is just a formality that will not make you a Turkish tax resident)
We will represent you at the bank to make sure everything goes as planned.
Account Opening: Cost
We will help you open a personal account without much hassle for 3,999 US dollars. The price may be higher if the amount of money you want to deposit considerably exceeds the required 30,000 US dollars. The higher is the amount, the more paperwork we will be required to do for you to successfully pass all checks.
If the documents you provide are in a language other than English, you may also need to pay for the translation services.
Account Opening: Procedure
Do not hesitate to get in touch with our experts and receive answers to all your questions. If we know your needs very well, we will be able to check whether you can fulfill the bank’s requirements – otherwise, we will simply propose other good options.
Please follow the procedure below:
- Pay the fee for our assistance in Turkish personal account opening (the basic package costs 3,999 euros).
- Collect and send us all the required documents executed according to our recommendations.
- Your documents will undergo our thorough check, and then we will transfer them to the bank.
- We will have to wait for the bank’s approval which will not take long.
- Deposit at least 30,000 US dollars or euros to start using your account.
Turkey is a truly marvelous destination, and we recommend using the above link to explore the information available on our portal. Opening a bank account is not the easiest procedure if you are a non-resident, but it will give you access to excellent banking services in a stable country that fights hard for its economic interests. Click on the link to contact us!
