Opening a Bank Account in Turkey for Foreigners and Legal Requirements: 2026 Guide

Can Foreigners Open a Bank Account in Turkey?

Yes. There is no general rule prohibiting foreigners from opening a bank account in Turkey. The framework governing account opening consists of Law No. 5549 on the Prevention of Laundering Proceeds of Crime and the Regulation on Measures Regarding the Prevention of Laundering Proceeds of Crime and Financing of Terrorism issued under it (the Measures Regulation). These provisions require the bank to establish and verify the customer's identity before opening an account.

There are 2 application routes to consider for ordinary account opening:

Account opening routes (as of October 2026)

This article addresses opening a personal account, the most basic step in banking transactions for foreigners; corporate accounts are covered only by a brief comparison. It does not address Turkish citizens opening accounts with banks abroad.

Is a Residence Permit Required to Open a Bank Account in Turkey?

A bank account can be opened in Turkey without a residence permit. A residence permit is not a legal requirement for opening a bank account. For identity verification, the residence document, meaning the residence permit card, is only one of the alternatives listed alongside a passport; both need not be presented together. In practice, however, many banks still request a residence permit.

This reflects the bank's verification preferences rather than a statutory requirement. A residence permit holder is assigned a foreigner identification number and has their Turkish address entered in the address registration system. These two records make it easier for the bank to verify identity and address at the same time. For someone without a permit, the bank must seek equivalent assurance through other documents, and some banks do not wish to take on that additional work.

The sequence also matters for people applying for a short-term residence permit. Some permit categories require evidence of financial circumstances in Turkey; opening the account before the permit application may therefore make those circumstances easier to document.

Can a Foreigner Open a Bank Account with Only a Passport?

A passport is sufficient for identity verification, but is not enough on its own to open an account. In practice, a bank account is not opened without a tax number. For customers resident in Turkey, establishing that number is mandatory under tax legislation.

In practice, banks request a tax number from foreigners too. For foreign nationals, this function is served by the foreigner identification number issued with a residence permit or a potential tax number obtained from the tax office.

The bank also asks to see the original passport and keeps a legible copy. Identity cannot be verified using an expired passport, and account opening stops at that stage.

The table below shows which commonly requested documents are legally required and which depend on the bank's preferences.

Bank account documents: legal requirement or bank preference? (October 2026)

The table concerns personal accounts only; the bank may request additional information under its own risk assessment.

Does a Bank Account Require a Tax Number, an Address in Turkey and a Telephone Number?

Address verification is required and banks request a tax number; however, an address in Turkey and a Turkish telephone number are not statutory requirements.

A potential tax number can be obtained by applying with a passport to any tax office or through the Revenue Administration's Interactive Tax Office. This number does not itself create a tax liability; it identifies the person within the Turkish fiscal system. Bank accounts, title deed transactions and utility subscriptions are recorded under the same number. If the name in the tax record differs from the passport, for example because of transliteration, this may cause verification problems at the bank.

The bank verifies the declared address using a certificate of residence, a utility bill issued in the person's name within the last 3 months or a document issued by a public authority (Measures Regulation, Art. 6/3). This rule does not require the address to be in Turkey; a person who documents their address with a bill from their own country generally meets this requirement. Some banks nevertheless find foreign documents difficult to assess and want to see an address registered in Turkey.

A Turkish telephone number is usually requested only for one-time passwords. Not having one makes access to digital channels such as bank cards and internet banking more difficult, rather than preventing the account itself from being opened.

Can a Turkish Bank Reject a Foreigner's Account Application?

Most of the bank's questions arise from this obligation. The bank must establish the account's purpose, the person's occupation and whether they are acting on someone else's behalf. Where it identifies a high risk, it may ask about the source of funds, make opening subject to senior management approval or require the first incoming payment to come from an account held in the person's own name at another bank.

For accounts opened for personal purposes, consumer legislation prohibits refusing to provide a service without just cause. However, where identity, address or the account's purpose cannot be verified, or the bank's risk assessment is negative, refusal will often have just cause. In a 2025 decision concerning the closure of a commercial account, the Court of Cassation also upheld a ruling that no statutory provision required the bank to enter into or maintain a contract.

Banks have different risk policies, so an application rejected by one bank may be accepted by another. If the bank has filed a suspicious transaction report with the Financial Crimes Investigation Board (MASAK), it cannot disclose this to the customer. If your application has been rejected, you can contact Legal Istanbul to assess which documents or explanations may be missing.

Can Iranian and Russian Citizens Open a Bank Account in Turkey?

Yes. Iranian and Russian citizens can open a bank account in Turkey at a branch or through a representative; there is no general prohibition applying to these nationalities, and a passport is a valid identity document. Banks may nevertheless examine these applications more closely for different risk reasons and request a residence permit or additional documents.

Iranian citizens. As of June 2026, the Financial Action Task Force (FATF) lists Iran among high-risk jurisdictions subject to a call for action. Turkish legislation requires enhanced measures in business relationships with persons located in high-risk countries; banks may also take nationality into account in their risk assessment. They may therefore request documents showing the source of funds and require senior management approval for account opening.

Russian citizens. Turkey is not a party to the US and European Union sanctions against Russia; under Turkish law, Russian citizens are subject to the same rules as other foreigners. Banks' additional scrutiny relates to a US measure adopted in December 2023. This measure made it possible to impose secondary sanctions on foreign banks. Some banks began requesting a residence permit and address registration from 2024; without a permit, some banks may reject an application, but this does not make account opening impossible at every bank.

Can a Turkish Bank Account Be Opened from Abroad Through a Representative?

Yes. A bank account in Turkey can be opened from abroad using a notarised power of attorney. The scope of the power of attorney is decisive. When someone acts on another person's behalf, the representative's identity is separately established and their authority is verified from the power of attorney (Measures Regulation, Art. 14). As a rule, the account holder's identity is established using their original passport or a notarised copy; if verification is not possible with those documents, a notarised power of attorney containing their identity details may be used.

To be used in Turkey, a power of attorney issued by a foreign authority must bear an apostille or be certified by a Turkish consulate, and a certified Turkish translation must be attached. A power of attorney prepared in Turkish at a Turkish consulate does not require a separate translation. It is important that it expressly cover banking transactions, particularly account opening; a broadly worded authorisation may cause problems when the bank verifies the representative's authority.

Applying through a representative may be considered for foreigners who cannot travel to Turkey; however, not every bank accepts account opening by a representative. Before the power of attorney is signed abroad, it is useful to agree its wording with the representative who will handle the transaction. This avoids the need to issue a new document later.

Can a Bank Account in Turkey Be Opened Online or by Video Call?

MASAK's June 2026 amendment permits remote identification of foreign nationals using a passport. Account opening at banks is also subject to the BDDK's sector-specific rules and the bank's customer acceptance process; this amendment alone does not mean that every foreigner can open a bank account online. Applying through a representative may be considered for ordinary account opening without travelling to Turkey; acceptance depends on the bank's identity and customer checks.

Remote customer onboarding has been possible in Turkey since 2021; however, because the system was based on chip-enabled Turkish identity cards, foreigners had effectively remained outside its scope. An amendment to the MASAK General Communiqué that entered into force on 27 June 2026 made it possible to identify a foreign national remotely using a passport whose chip can be read by a phone (NFC-enabled), together with a video call conducted by trained staff.

Strict limits apply to people becoming customers through this route at institutions covered by the rules. Transfers and cash withdrawals cannot be made until the address has been verified within 3 months. Funds may come only from accounts held abroad in the person's own name and may be sent only to accounts in their own name. Nationals of countries regarded as high risk cannot become customers through this method.

Banks carry out remote identification under the Banking Regulation and Supervision Agency's (BDDK) own regulation. Special arrangements, such as remote customer onboarding for Blue Card (Mavi Kart) holders within the YUVAM account scheme, should not be treated as a general account opening route available to all foreigners. The MASAK amendment cannot be interpreted as a general right to open an account online without separately examining the BDDK rules applicable to the bank.

How Does a Corporate Bank Account in Turkey Differ from a Foreigner's Personal Account?

A corporate account is opened in the company's own name and is subject to a different verification process. The bank checks the company's name, trade registry number, tax number and address against registry records, and also identifies the person authorised to represent the company.

The most important difference is identifying the beneficial owner. The bank identifies individual shareholders who hold more than 25 percent of the company (Measures Regulation, Art. 17/A). If there is no such shareholder, it takes additional measures to establish who ultimately controls the company.

For someone establishing a company with foreign shareholders, this means presenting the ownership structure to the bank clearly and with supporting documents. When an account is opened for a company incorporated abroad, copies of its incorporation documents bearing an apostille or consular certification are requested.

Why Is a Bank Account in Turkey Important for Property Purchases and Citizenship?

For a foreigner purchasing property in Turkey, a bank account provides a reliable way to document payment. Sending the purchase price through a bank makes it easier to prove the sale and the source of funds later; the bank payment record is also used in subsequent residence permit or citizenship applications.

For citizenship by investment, a bank deposit is itself an application route. As of October 2026, a person who deposits at least USD 500,000 or its equivalent with banks in Turkey and undertakes to keep it there for 3 years can apply through this route. The foreign currency is first sold to the bank and the resulting amount is held as a Turkish lira deposit; the BDDK verifies whether the condition has been met.

For this route, the name in which the account is held, the date the funds arrived and their source are decisive. An investment made into an account not held in the applicant's own name, or withdrawn before the required period ends, may fail to meet the citizenship requirement.

Can a Bank Account in Turkey Be Restricted After It Has Been Opened?

Yes. A foreigner's bank account in Turkey may be restricted after opening; opening the account does not remove subsequent monitoring. The bank checks whether transactions are consistent with the customer's occupation, financial circumstances and sources of funds. If identity details cannot be verified again, the business relationship is terminated; this is why updates are requested when a passport is renewed or an address changes.

A transaction suspected of involving money laundering or terrorist financing may be suspended for 7 business days by a decision of the Minister of Treasury and Finance or a deputy minister to whom authority has been delegated (Law No. 5549, Art. 19/A). This does not mean the account is automatically closed; it is a temporary measure intended to allow the suspicion to be analysed.

When an unexpected restriction arises, first establish what type of restriction it is. Suspension by ministerial decision, closure by the bank under its own risk policy and attachment imposed by a court or enforcement office are different measures, each requiring a different response.

Are a Foreigner's Deposits in Turkey Protected, and What Happens to an Unused Account?

Eligible deposits and participation funds held at banks' domestic branches in Turkey are protected within the applicable conditions and limits of the Savings Deposit Insurance Fund (TMSF), regardless of the account holder's nationality. The 2026 limit is a total of TRY 1,200,000 per person per bank; eligible Turkish lira, foreign currency and precious metal accounts are assessed together within that aggregate limit.

Long-unused accounts present a separate risk. Deposits left unclaimed for 10 years from the beneficiary's last transaction or written instruction become time-barred (Banking Law No. 5411, Art. 62). If the beneficiary cannot be contacted, the money is recorded as revenue of the TMSF following publication of a notice.

Conclusion: The Bank's Verification Is Decisive for a Foreigner's Account

It is legally possible for foreigners to open a bank account in Turkey, and a residence permit is not required. What matters is whether the bank can verify identity, address and the account's purpose; the documents used for that verification vary from bank to bank. A refusal by one bank therefore does not mean that other banks will also refuse.

For someone with a residence permit, the process is often a short branch visit. A person in Turkey without a permit can also apply at a branch; the outcome depends on the bank's verification preferences. Applying through a representative may be considered for a foreigner unable to travel to Turkey; acceptance depends on the bank's identity and customer checks. The general MASAK rules on remote identification using a passport do not mean that banks can open accounts online for everyone; the BDDK rules applicable to the bank and the conditions of the relevant product must be examined separately.