Bank Account in Turkey

Open Business Bank Account in Turkey

Opening a business bank account in Turkey can be challenging for both foreign entrepreneurs and Turkish citizens. Banks, especially private ones, often require extensive documentation and may have specific requirements such as residency or work permits. Communicating with non-English speakers and navigating the complex process can be daunting.

At Workon, we streamline this process. We identify the best banking options based on your needs and guide you through the requirements, turning a potentially exhausting experience into a straightforward, one-day procedure. Post-account opening, we continue to provide support for any issues you may encounter.

How It Works

Obtaining Signatory Circular:

• If you are in Turkey, we accompany you to a notary to obtain your signatory circular.
• If you are abroad, you can sign this document at any Turkish embassy along with a power of attorney for bank account opening, and then ship them to us. The signatory circular proves your authority to sign documents on behalf of your company.

Document Preparation:

With the signatory circular, company stamp, certificates, and a notarized passport translation, we either accompany you to the bank or handle the opening with the power of attorney.

Comprehensive Assistance:

We assist throughout the entire process, mitigating language barriers and ensuring your safety and privacy. We can open accounts with multiple currencies and provide personal accounts if needed.

Bank-Specific Processes:

Account opening times vary by bank. For example, Ziraat Bank typically opens accounts within two hours, whereas Emlak Katilim Bank might take 1-2 business days. We stay in touch with the bank and keep you informed of the progress.

Post-Opening Support:

Once your account is open, we will assist you in setting up online banking, which supports the English language. You will receive your passwords on your mobile phone, even if you do not have a Turkish SIM card. With the online banking application, you can conduct transactions worldwide. Depending on the bank, you may receive your debit card immediately or within a few days. Many banks also offer virtual cards through their online system. Lastly, we will appoint a customer service representative to assist you post-account opening.

FAQs

Which bank account option may be most suitable for my business?

We often recommend Ziraat Bank, a government bank that allows tax payments through its app, a feature not available with other banks. Kuveyt Türk is another viable option. We assist in determining the best bank for your needs.

What are the costs and fees associated with opening a bank account?

Some banks require a deposit to activate the account. This amount is usually not blocked and can be used freely. Generally, there are no fees or taxes associated with opening an account.

How long does the bank account opening process take and what documents are required?

Typically, the process takes 1-2 business days. Required documents include a signatory circular, company certificates, passport image and notarized translation, company stamp, and sometimes additional documents such as proof of residency.

For more information and to start the process, please contact our customer support team. We ensure a smooth and efficient bank account opening experience tailored to your needs.