Opening a business bank account in Turkey is a crucial step for foreign investors establishing a company. Turkish banks offer a variety of corporate banking services tailored to international businesses. This guide covers the requirements, process, and best practices for setting up your corporate bank account in Turkey in 2026.
Why You Need a Corporate Bank Account in Turkey
A corporate bank account is mandatory for the company formation process itself — at least 25% of the share capital must be deposited into a blocked bank account before registration with the Trade Registry. Beyond formation, a corporate account is essential for receiving client payments, paying employees and suppliers, fulfilling tax obligations (corporate tax, VAT, withholding tax), and maintaining proper financial records for your certified public accountant (SMMM).
Types of Corporate Bank Accounts
- TRY Current Account: For daily Turkish Lira operations, tax payments, employee salaries, and domestic transactions
- Foreign Currency Account: For holding USD, EUR, GBP, or other currencies — essential for international trade and protecting against TRY volatility
- Capital Blockage Account: A temporary account used specifically for the company formation process. The 25% capital deposit is held here until the Trade Registry confirms registration
- Online/Mobile Banking: Most major Turkish banks offer comprehensive digital banking platforms with English-language interfaces
Required Documents for Opening a Corporate Account
The following documents are typically required by Turkish banks:
- Trade Registry Gazette (Ticaret Sicili Gazetesi)
- Tax identification number certificate
- Articles of Association (Ana Sözleşme)
- Signature circular (İmza Sirküleri)
- Board resolution authorizing account opening
- Notarized passport copies of authorized signatories
- Proof of company address (lease agreement)
- Activity certificate from the Chamber of Commerce
Best Banks for Foreign Companies in Turkey
Several Turkish banks have dedicated international banking departments that cater to foreign-owned companies:
- İş Bankası: Turkey’s largest private bank with extensive international banking services
- Garanti BBVA: Strong digital banking platform with English-language support
- Yapı Kredi: Part of the UniCredit Group, excellent for European businesses
- Akbank: Known for competitive corporate banking rates
- QNB Finansbank: Strong Middle Eastern and African connections
- HSBC Turkey: Ideal for multinational corporations already banking with HSBC globally
- DenizBank: Part of Emirates NBD, strong for Gulf-region businesses
Step-by-Step Account Opening Process
- Choose a Bank: Compare services, fees, English support, and digital banking capabilities
- Schedule an Appointment: Contact the bank’s corporate banking department
- Prepare Documents: Gather all required corporate and personal identification documents
- Visit the Branch: At least one authorized signatory must visit the branch in person for identity verification
- KYC/AML Compliance: The bank will conduct Know Your Customer and Anti-Money Laundering checks. This may include questions about the company’s business activities, expected transaction volumes, and source of funds
- Account Activation: Once approved, the account is typically activated within 1-3 business days
- Digital Banking Setup: Request access to online and mobile banking platforms
Important Banking Regulations for Foreign Companies
- Foreign Exchange Regulations: Turkey has specific regulations on foreign currency transactions. Large FX conversions may require Central Bank reporting
- SWIFT Transfers: International transfers are subject to Banking Regulation and Supervision Agency (BDDK) reporting requirements for transactions exceeding certain thresholds
- Digital Tax Payments: All corporate tax payments must be made through the Interactive Tax Office (İnteraktif Vergi Dairesi) or authorized banks
- E-Declaration Integration: Ensure your bank account is linked to e-declaration system for electronic tax filings
How Celikel CPA Can Help
At Celikel CPA, we assist foreign companies with the entire bank account opening process. We coordinate with our partner banks, prepare all required documentation, accompany you to branch visits, and ensure seamless integration between your banking and accounting systems.
Need help opening a corporate bank account? Contact us: yigit@celikelcpa.com | WhatsApp: +90 544 649 40 87
