Can Foreigners Open Bank Accounts in Turkey in 2025?
Opening a bank account in Turkey as a foreigner in 2025 is not only possible — it's becoming increasingly common. Whether you're living in Turkey short-term, planning a long-term stay, or simply making an investment, having a local bank account can make your financial life significantly easier. In this blog post, we’ll guide you through the latest procedures, documents required, and insider tips for foreigners opening bank accounts in Turkey this year.
🏦 Why Open a Bank Account in Turkey?
Having a Turkish bank account allows foreigners to:
Receive rental income from Turkish property
Pay utility bills, taxes, and government fees
Make local purchases and online transactions
Send and receive money domestically and internationally
Apply for residence permits and make official payments
Get access to Turkish credit cards or debit cards
It is also often required for purchasing real estate, investing, or starting a business in Turkey.
✅ Can Foreigners Open a Bank Account in Turkey in 2025?
Yes, they can. In 2025, foreigners with or without residence permits can open bank accounts in Turkey, although the process may vary depending on the bank and your current legal status. However, due to updated KYC (Know Your Customer) and anti-money laundering regulations, Turkish banks are now more cautious and require full documentation and clarity of financial purpose.
📋 Documents Required (2025 Updated List)
Here are the typical documents a foreigner must provide when opening a bank account in Turkey:
For Non-Residents (Tourists / Investors):
Valid passport
Turkish tax identification number (Vergi Numarası)
Proof of foreign address (e.g., utility bill from your home country)
Turkish mobile phone number (required for SMS verifications)
For Residents:
Valid passport or residence permit
Turkish tax ID number
Proof of address in Turkey (e.g., notarized rental contract or e-Devlet document)
Turkish mobile number
Some banks may also request:
Proof of income or source of funds
Entry stamp or visa
Face-to-face video call for verification (especially for remote applications)
🏛️ Where to Get a Tax ID Number?
Foreigners can easily obtain a tax number from the nearest Tax Office (Vergi Dairesi) by presenting their passport. It’s also possible to apply online via the official Turkish Revenue Administration website:
🔗 https://ivd.gib.gov.tr
🏦 Which Banks Are Foreigner-Friendly in 2025?
Some banks are more experienced in working with foreign nationals and offer English-speaking support. Here are a few that are generally more welcoming:
Ziraat Bankası – especially helpful for real estate investors
Garanti BBVA – popular among digital nomads
İşbank – known for strong online banking tools
Yapı Kredi – easy interface and mobile banking in English
HSBC Turkey – international transfers made easier
However, policies vary by branch and city. Major cities like Istanbul, Izmir, and Antalya offer smoother experiences for foreigners.
💡 Tips to Make the Process Easier
Visit in person: While some banks offer online applications, physical visits are still the most effective.
Bring a Turkish speaker or translator: Many bank employees may not speak fluent English, especially in smaller branches.
Be patient: The process can take 1–2 hours, depending on the bank’s workload.
Use your bank account soon after opening: Inactive accounts may be closed within 3–6 months.
Avoid political or sensitive transfer explanations: Be transparent but careful in explaining your account’s purpose.
🔐 Are There Any Restrictions?
Yes — some limitations may apply:
US citizens may face restrictions due to FATCA compliance.
Sanctioned countries (e.g., Iran, North Korea) are blocked from opening accounts.
Crypto activity may require additional scrutiny. If you plan to trade cryptocurrencies, declare this during your application.
📊 Can You Open a Bank Account Without a Residence Permit?
Yes, but only at selected banks and often for limited purposes (e.g., investment). Non-residents typically receive limited access: no credit lines, no overdrafts, and sometimes limited online banking functionality.
🔁 Can You Open a Bank Account Remotely?
As of 2025, remote account opening is possible in rare cases, mainly with banks that offer video verification. However, this service is typically reserved for clients with Turkish tax numbers and prior investment plans (such as buying property).
🧾 Conclusion: A Simple Yet Strategic Step for Foreigners
Opening a bank account in Turkey in 2025 is straightforward if you're prepared and well-documented. It’s a small but essential step toward settling, investing, or doing business in Turkey. Be sure to follow the updated regulations and choose a bank familiar with foreign clients to ensure a smooth experience.
If you need professional help throughout this process—such as obtaining your tax number, preparing documents, or choosing the right bank—we’re here to help.
📌 Need Legal Guidance?
Contact our office to simplify your relocation or investment in Turkey:
🌐 www.ensariyigitcancakmak.av.tr
ensaricakmak@istanbulbarosu.org.tr
📞 +90 533 194 52 14
