This article is about the foreign companies which do not have any business address in Turkey. Therefore, this article don’t touch on the subject for opening a bank account by foreign companies established in Turkey

At present, there is no standards for Turkish banks about acceptance of a bank account opening requested by foreign company. Financially strong Turkish Banks generally hesitate to open a bank account for foreigners in order to refrain from the risk of Iran connections of customer companies or opening a bank account for companies which are on international blacklist. But still it is low possibility that opening bank account request might be rejected. Therefore, despite provisions regulating bank account opening for foreign companies, it is not 100 percent guaranteed to open a bank account in Turkey due to the research activity. In that regard, banks exercise of discretion. Thus, the banks will deeply search the company and they may request extra document.

There is also bank account opening fee which is minimum 1000 USD. Banks arrange the opening fee based on the transaction size of foreign company. Accordingly, activity of a foreign company regarding transaction amount is important. Generally, banks request details from foreign company in order to predict how often the bank account will be used.

Needed documents:
Power of Attorney to the lawyer
Articles of Incorporation of the Company in its own language (Apostile or Consulate Approval)
Translation of Articles of Incorporation in Turkish by Turkish Notary Approval or Turkish Consulate (This may cost around 200 USD. Notary expense and translation in Turkey)
Potential Tax number obtained by the lawyer via application to tax administration (Some of Turkish Consulates can give it in foreign country also, if you’ll give power of attorney to the lawyer via consulate , you can also apply at the same time).
Director(s) of Company’s ID card, Signature declaration and authorization document from the company
ID card can be authorized by Turkish Consulate. Signature Declaration must be authorized by notary or Turkish consulate, authorization company also must be approved.