Tax Number and Bank Account for Foreigners in Turkey | Practical Guide

Why this matters for foreign investors

Under Turkish law, foreign individual or corporate shareholders/directors must obtain a Turkish tax number before they can be added to MERSİS and proceed with company incorporation. In addition, certain structures—especially the Joint Stock Company (A.Ş.)—require a pre-registration capital deposit into a bank account opened in the company’s name. Without these two steps, the process will stall.

• Full setup flow: Steps to Establish a Company in Turkey
• Document checklist: Documents for Company Registration in Turkey
• Minimum capital per entity: Minimum Capital Requirements in Turkey

Part A — Getting a Turkish tax number (foreign individuals & entities)

1) Who needs it?

• Foreign individual shareholders/directors to be listed on MERSİS.
• Foreign legal entities becoming shareholders of a Turkish company.

Per the official process, foreigners must first obtain a tax number and have it recorded in MERSİS via the relevant trade registry office before they can be added as partners or authorised persons.

2) Typical documents (individual)

• Passport (bio/ID page)
• Basic contact details (father name, mother name, email, phone)
• Address details (residential or correspondence)
• If represented: notarised power of attorney + sworn Turkish translation

3) Typical documents (foreign legal entity)

• Certificate of incorporation / registry extract (apostilled & sworn Turkish translation)
• Articles of association / constitutive document (if requested)
• Board resolution authorising a Turkish representative (apostilled & translated)
• Representative’s passport and contact details

Note: Apostille, translation and formatting requirements can vary by local tax office. To avoid rejection, have the file pre-checked before submission.

Part B — Opening a company bank account

1) When is the account needed?

• A.Ş.: At least 25% of the cash-committed share capital must be deposited before registration into a bank account opened in the company’s name; the balance is payable within 24 months after registration. Details: Joint Stock Company (A.Ş.)
• Ltd. Şti.: Cash capital may be paid within 24 months after registration, but you will still need a corporate account for operations. Details: Limited Company

2) Typical bank KYC package (corporate)

• Trade Registry registration & incorporation documents
• Articles/company contract (final version)
• Signature circular of authorised signatories
• Tax numbers (company & authorised persons)
• Authorised signatory’s passport (and residence card, if any)
• Proof of company address (e.g., lease or documentation)
• Board resolution authorising account opening/signatories (if applicable)

Banks apply their own KYC/AML policies and may request additional information (business activity, source of funds, group chart, UBOs, etc.). MFY Legal can coordinate the bank dialogue and documentation.

3) Capital deposit proof

• For A.Ş. incorporation, the bank deposit slip/letter evidencing the 25% capital payment is included in the Trade Registry application. See the flow: Steps to Establish a Company in Turkey

Frequently asked questions (for International founders)

Q1: Can I open a personal account before the company is registered?

Yes, individual banking is often possible; however, share capital payments and commercial activity must go through a corporate account in the company’s name.

Q2: Can the tax number and bank account be obtained remotely?

Often yes, via power of attorney. Some banks still require in-person identification or wet signatures this is policy-dependent.

Q3: Which entity type is more practical for banking?

Many SMEs prefer Ltd. Şti. for cost and operational simplicity. A.Ş. is better if you anticipate future capital raising, bearer/registered share flexibility, or debt instruments. Compare:

• A.Ş. vs Ltd. Şti.
• Minimum Capital Requirements

Compliance reminders

• Competition Authority fee: 0.04% of the company’s capital (handled during establishment).
• Audit thresholds: Capital companies exceeding certain size criteria are subject to independent audit. See Company Audit in Turkey.
• Registration & announcements: Share transfers, director changes, etc., may trigger registration/announcement obligations. See Share Transfer in Turkish Companies.

How MFY Legal helps

• Tax number applications (foreign individuals and entities)
• Bank KYC file preparation and coordination with the selected bank
• Capital deposit and Trade Registry filing management
• Post-registration tax and social security registrations

Planning to invest in Turkey? Let us structure the process end-to-end so you launch fast and compliantly.