Bank Account & Company Set-Up

Opening a bank account or setting up a company in Turkey is mostly paperwork, and much of that paperwork sits with the notary, the translator and, for foreign companies, the apostille. The bank or the registry decides the final list, but knowing what is usually asked lets you get the slow documents ready first.

A personal bank account

Banks set their own requirements, and they differ from one bank to another. For a foreigner, the commonly requested documents are:

• A valid passport, which may need to be translated into Turkish and notarized. See Passport Translation in Turkey.
• A Turkish tax number. Banks commonly ask for it. If you don't have one, we take care of getting it issued. See Tax Number in Turkey for Foreigners.
• Proof of address, in some cases.
• A residence permit, if the bank asks for one. It is not legally required in every case, but some banks request it. See Residence Permit in Turkey.

A company account, or a company set-up with foreign owners

When a foreign company or foreign shareholders are involved, the documents multiply, and many of them come from abroad. The list depends on the structure of the company and on the bank or the registry, but commonly it includes:

Foreign documents generally have to be certified in the country where they were issued, either with an apostille or with legalization, and translated into Turkish. See Foreign Documents for Use in Turkey and Company Documents for Use Abroad for the details. For powers of attorney, see Power of Attorney for Property and Vehicles.

Who decides what you need

The bank, the trade registry and your accountant or lawyer decide the exact list, and they can change it. Ask for it in writing before you order any document. We prepare the documents, and we don't open accounts or register companies, so for questions about the account or the company structure, speak to the bank or a lawyer.

Mistakes that cost time

• Starting with the bank visit. The tax number and the translated passport should be ready first.
• Ordering foreign documents before you have the list. Companies abroad often have to order them again when a bank asks for something different.
• Documents that are too old. Some banks and registries want recent company documents. Ask how recent.
• Name mismatches. The company name and the shareholders' names must be spelled the same way in every document and in the translations. See Names in Translation.
• Getting an apostille for a non-member country. The documents need legalization instead. See Apostille or Consular Legalization?

How we help

Send us the list you were given by the bank or the registry. We will tell you which documents need translation, notarization, apostille or legalization, take care of the tax number, and handle the notary work. Our business desk is available at business@notarypublic.istanbul.