Two bank accounts are needed during incorporation: a blocked capital deposit account before Trade Registry filing, and a regular operational account once the company is registered.
The capital deposit requirement means bank involvement starts before the company even exists. We guide you through both stages.
Turkish law requires depositing share capital into a blocked bank account before Trade Registry filing. For a Ltd. Şti., the full minimum of ₺50,000 must be deposited (TTK Art. 580). For an A.Ş., at least 25% of the ₺250,000 minimum (₺62,500) must be deposited before registration, with the remainder due within 24 months (TTK Art. 344/1). The bank issues a confirmation letter required for Trade Registry filing.
Once the company is registered and has a Tax Identification Number, the full operational corporate bank account is opened. This account is used for invoicing, payroll, and all commercial transactions.
Requirements vary slightly between banks, but the core document set is consistent. We advise on the most straightforward bank for your specific shareholder nationality.
▸ All Companies (Standard Documents)
Notarized articles — required even for the pre-incorporation capital deposit account.
Required for the operational account — confirms the company is legally registered (Ticaret Sicili Tasdiknamesi).
The company's Turkish Tax ID (Vergi Kimlik Numarası) — required for all post-registration banking.
Authorized signatories' notarized signature declaration (İmza Beyannamesi) — required by all banks.
Company's registered Turkish address — typically the same document submitted to the Trade Registry.
Gazette entry confirming the company's incorporation — banks use it to verify directors and authorized signatories.
▸ Additional Documents for Foreign Shareholders
Notarized and apostilled copy of each foreign natural-person shareholder's valid passport, with certified Turkish translation. Required for KYC (Know Your Customer) compliance.
For corporate foreign shareholders: apostilled Certificate of Incorporation (faaliyet belgesi), dated within 6 months, with certified Turkish translation. Confirms the parent company is in good standing.
Apostilled Trade Registry excerpt (sicil özeti) of the foreign parent company, showing directors, ownership structure, and registered address. Banks use this to verify the beneficial ownership chain.
Apostilled and notarized power of attorney authorizing the company representative to operate the bank account — required when the authorized signatory is not the shareholder or cannot appear in person.
Turkish banks subject foreign-owned companies to enhanced due diligence. A written declaration explaining the source of the initial capital deposit is commonly required.
Foreign natural-person shareholders who hold signing authority typically need their own Turkish tax identification number (vergi kimlik numarası) — separate from the company's Tax ID.
Turkish corporate banking has specific requirements that differ from consumer banking — especially for foreign shareholders.
Not all Turkish banks are equally accommodating to foreign-owned companies. We recommend banks with established international corporate desks and English-speaking staff.
Most Turkish banks require at least one authorized signatory to appear in person. If shareholders are abroad, a notarized and apostilled PoA is required — we prepare this in advance.
Banks conduct their own KYC (Know Your Customer) checks on shareholders and beneficial owners. For foreign shareholders, this can add 2–5 business days to the process.
Under DYYK (Law No. 4875) Art. 3/c, foreign investors may freely transfer profits, dividends, and capital proceeds abroad through Turkish banks. Request a multi-currency account at opening to minimize conversion fees on international transfers.
Corporate internet banking in Turkey requires in-person activation with a Turkish mobile number. We advise on obtaining a Turkish SIM card if needed.
We recommend defining clear signatory authority levels (e.g. single signatory up to ₺X, joint signatories above) in the Articles — this simplifies bank mandate setup.
We accompany our clients to the bank and handle all documentation — in English and Turkish.
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