Ishbank and Ziraat Bank are reputable banks in Turkey. Banks operate in any country under the supervision of the central bank of that country. Turkey is the same. It is also possible to open a bank account in Turkey for foreigners without the need for residence. Of course, this is true for some banks as well. The Central Bank of Turkey does not need to have a residence permit to open an account in Turkey. And it is up to the banks to decide on this issue. This is why some banks require a residence card. And in some banks, you can open an account without staying.
Reason for choosing Turkey to open a bank account in Turkey
Due to the existing sanctions in Iran and the lack of access and exchange with European banks, Iranians and owners of capital and companies in Iran need to open an international account. To be able to have economic and trade exchanges with all over the world. Turkey is a country where it is possible to open an international account in. Also, the proximity of Turkey and the lack of visa requirements for Iranians has made it the first option for Iranians.
As mentioned, it is possible for Iranians to open an international account in Turkey. In Turkey, in addition to the lira account, you can also open a currency account (dollar and euro account).
Opening a bank account in Turkey without the need to stay and obtain a credit card
Opening a bank account in Turkey is possible without the need for residence and with the passport and tax number that you receive from the Turkish Tax Office. Note that except for a few branches of the Agricultural Bank, which is the largest state-owned bank in Turkey, it is not possible for foreigners to open accounts in other banks. And do not provide services to foreign nationals.
In addition to opening an account with the Turkish Agricultural Bank, you can also receive a credit card. And because you applied for a credit card as a foreigner in Turkey, the bank has set conditions as a guarantee for you to issue a credit card to foreign nationals. The bank blocks your account equal to the card balance or ten percent more than the card balance. For example, if you apply for a $ 1,000 card, you must block $ 1,000.
Benefits of having an international bank account abroad
Two common uses for Iranian nationals who are inside Iran, or residing in Turkey, is to open a foreign currency account in a Turkish bank.
1- Keeping foreign currency and depositing in reputable banks in Turkey, high security of bank accounts and receiving interest from deposit accounts.
2- Daily use for purchases or receiving a credit card to make online purchases and the ability to manage offline bank accounts through the Internet and conduct online businesses and conduct commercial transactions.
What is EFT and HAVALE and what is the difference between them?
EFT and HAVALE are terms you will hear in the Turkish banking system. These two terms mean money transfer. If there is a transfer of funds between two banks of the same name, it is called HAVALE. And if it happens between two different banks, it is called EFT. EFT can only be done during office hours (9 am to 5 pm). And if it is done outside office hours, the money will be transferred the next morning. But in HAVALE, money transfer is also done on holidays and outside office hours.
Connecting an Internet portal to an Internet business account
Businesses in Turkey and internet activities that have an online store payment portal have many issues. The noteworthy point to note is that it is sometimes said that you, as an ordinary person like other countries like Iran, can connect your bank account to a store payment gateway.
And do business or advertising on various websites. And receive funds.
You should note that in Turkey, an issue called (I have a duty and a full obligation) hinders your work. Every activity you do in Turkey, if it is a business, must be in the name of a company. Otherwise, if one of the problems in tax audits happens, your whole business will be closed and lead to fines.
Tips for conducting foreign exchange transactions in Turkey for Iranians
When opening a dollar account in Turkey, it is very important to note that trading from one dollar account to another dollar account will cause you problems. And it is possible to block the account.
In the case of euro transactions to banks outside Turkey, it is not possible for Iranian nationals. There are ways to send money to people who have business goals or want to educate their children. You can get the necessary advice.
There are no restrictions on Turkish lira or UAE dirham transactions in Turkey. Restrictions have already been raised, but there are solutions for using the banking system according to its laws in Turkey.
How to unblock a personal account in the Agricultural Bank
As mentioned earlier, you should note that a personal account is for personal use only. For example, for daily purchases and living affairs and daily transactions that you do for family and acquaintances, an account is opened.
If the bank notices that you have traded with this account, or that you have done business or profit, it will block your account and ask you for explanations regarding the transfer of funds.
A significant point that is if you encounter such a problem, you must first print out all the transactions made. And provide a clear reason for each transaction.
For example, if a friend or someone has deposited money into your account, you can offer it as a debt you already have or other similar items.
If a company has deposited money into your account, you can provide it as evidence by having the invoice or documents from which you made the purchase.
Write a description in the transfer of funds (Achiklama)
Regarding bank accounts in Turkey, a significant point that exists is the legal value and importance of the explanatory section (or the same for Iranian bank accounts) in the transfer of funds.
When you want to transfer money from your account, you must fill in the description (Achiklama). And state the reason for the remittance. If there is a time when the issue of non-transfer of work reaches the judicial and governmental stages, it is considered a kind of announcement on your part.
Bank transfers to buy property in Turkey
Due to international transfer problems, it is recommended that you transfer the money to your account in Turkey after you have transferred the money in cash or remittance to an exchange in Turkey.
Masak, Anti-Money Laundering Law in Turkey
Anti-money laundering laws in Turkey are enforced through masks in Turkey. According to them, banks continue to identify more serious customers in Turkey. There is no limit to cash receipts in Turkish banks. But in the laws of some countries, transactions are stipulated to prevent money laundering.
There is no such thing in Turkey. You can consult with experts in this field before making a transaction and opening an account.
Authorized transfer limit for personal account in Turkey
If more than ten thousand dollars or the equivalent in other currencies is transferred to a personal account in Turkey, the bank will ask you for the amount, if the source account is from another country in your name, no problem.
It is better to transfer from your account outside Turkey to an account in Turkey. For remittances over $ 50,000, as a business target, the bank conducts investigations. But up to a certain level there is no problem in receiving funds other than dollars.
Remittance ceiling to the personal account of Iranians from Europe
When transferring other currencies to a personal account in Turkey, the bank will ask you for a deposit, if the source account is from another country in your name, no problem.
It is better to transfer money from your own account when transferring money from another country. For amounts over $50,000 as a business target, the bank conducts checks. But up to a certain limit there is no obstacle to receiving funds other than the dollar currency.
Remittances of foreign currencies from Europe to Iranians through Turkish banks
Citizens of Iran who have a bank account in Turkey, remittances of Euros or other currencies are not possible for Iranians who have accounts in Turkish banks to European countries and the United States.
Legal remedies made by a Turkish lawyer must be used for remittances. Only remittances for certain reasons or student fees are possible with the permission of the guardian.
Add credit card limit by converting another currency
People who have applied for a credit card in one of the Turkish banks and received a credit card, you can buy in person and online with a limitless credit card with a limit set by the bank.
Credit card, like debit card, which is set at 250 lira per day, has no purchase limit. You should note that the accounts to which the credit card is attached are your lira accounts. And make your purchases by converting your dollar and euro currencies into lira currency and transferring it to credit card. And adding a limit card is possible through the Agriculture Bank application.
A way to increase your credit card limit in Turkey
For a card that typically has a limit of 5,000 lira, you can settle the debt again before the card debt is due after spending all the limits. And use that limit again.
But there is one very important point that most people do not know. If your card limit is 5,000 lira, you can pay twice as much once a month and another 5,000 lira will be added to your work limit.
In this way, if you spent from the limit of the card, for example, you spent 3 thousand liras from the limit of 5,000 liras, or you spent all the limits, pay the card debt in a large amount instead of 3 thousand liras, using the phone application or ATM. . In this case, your card limit will increase.
That means you pay 4,000 lira instead of 4,000 lira. And the limit of your card is 3 thousand liras. In fact, you paid off 3,000 debts. And you have added 4,000 to the limit card.
Obviously, this does not mean that after using this amount, the bank limit will raise your limit again. This is the case if you block income documents to the bank or money in it. But you can use these methods when necessary.
Internet business in Turkey
There are people who want to immigrate to Turkey, and decide to start an internet business. And most people are in favor of starting a store on Amazon.
To earn money from the Amazon site or the website of the company you registered, you need to have a bank account in Turkey. Some sites will accept your personal account to receive funds. By presenting a document such as a Turkish certificate
Earn money from YouTube and Amazon in Turkey
Or people who make money through YouTube and their account is in circulation, and money is transferred to their account, it is possible to receive money in a personal account. Note If your bank account is constantly in circulation, and significant amounts are deposited for business purposes, your personal account will be blocked by the bank.
An easy solution to this problem is to use a personal company. Starting a personal company in your own name transforms you from a real person to a legal person. And there are taxes that you have to pay.
But there are ways to reduce your income by showing some expenses, to avoid paying double taxation. There are also incentives for first-time entrepreneurs that are exempt from paying taxes.
Using a Turkish bank account as well as the Swift system of Turkish banks is a good opportunity for people who use the website of their personal company or the websites related to ready-made stores.
Of course, if you want to sell from a personal website, you must name your personal company after yourself.
Safe ways to transfer money for investment
The best way to transfer funds to invest or buy property in Turkey is to open a bank account in a Turkish bank. You can transfer money from another country to your account in Turkey by opening an account in Turkey. And invest or buy property using the Turkish banking system.
People who are outside of Turkey, and intend to buy property and invest in this country, can transfer their funds to the country through secure methods that are not related to the global banking system.
Given that there is a ban on the outflow of foreign currency in Iran, the best way to withdraw Iranian capital from the country is to transfer funds to buy foreign currency abroad using the Rial inside Iran.
iHomes Company, with the help and use of companies that export goods and services from Iran, and receive currencies abroad, buy their currencies for you, and provide them to you.
In this way you can safely transfer funds or secure investment funds abroad.
Opening a law account in Turkey
Opening an account in Turkey is possible through a power of attorney. But there are some things to keep in mind. You must apply for a power of attorney from the Turkish Consulate in Iran, otherwise it is not acceptable.
Turkish government agencies only accept power of attorney that is drawn up within the Turkish consulate in Iran. Power of attorney made outside the consulate and in the notary public of Iran is not acceptable and are not valid.
Companies that advertise a power of attorney can be done in a notary office this method does not work and is not valid in Turkey.
Warning about the possibility of closing personal accounts of agriculture due to commercial use
Investors and account holders in the Turkish Agricultural Bank should note that by opening a personal account in the Agricultural Bank, if a person uses this account as a business account, the bank can block that account.
There have been many cases where different deposits have been made by different people into one account. Due to the fact that these deposits are considered commercial, the individual’s personal account is blocked through the bank. And the bank warns account holders to receive funds to close their account and receive their money.
For this reason, it is emphasized that considering the purchase of real estate and business that you have in Turkey, you need to deposit funds in your account by different people, in these cases, be sure to seek guidance from your advice. And try to do fewer transactions.
Solution to prevent the blocking of Iranian accounts in Turkey
Sometimes money changers who want to deposit funds into your account to buy your property, and deposit funds from different banks this will cause your bank account to close. Therefore, it is recommended to use authorized exchange offices and receive cash and deposit funds to your account.
Or you can get your Rials in Iran from reputable institutions that have the necessary expertise in this field and use the currencies available abroad and transfer the currency to your account. And considering the necessary conditions to prevent your account from being closed, they will pay attention to these points.
It is very important to pay attention to these points in Turkey, because the only option to open an account at the moment is the Agricultural Bank, and by losing this account, you will face many problems to do business in Turkey.
Buy and sell gold in Turkey
To buy and sell gold in Turkey, you can install the Ziraat Bank application on your mobile phone. And open a gold account for yourself using the Agriculture Bank application. And buy and deposit at the daily rate of gold. That’s very easy.
Obtaining bank loans from Turkish banks
In general, it is not possible for foreigners to get a bank loan in Turkey. Unless one can prove one’s financial support to the bank. In such a way they either have a residence permit, which can provide a salary slip to the bank. Or submit a corporate account and corporate account turnover in Turkey to the bank.
By submitting one of these documents, they can apply for a bank loan in Turkey.
Opening a company account in Turkey
After registering a company in Turkey and completing the registration process, you must open a company account. There are many cases where people are not able to open an account after registering a company. One of the most important reasons is the position and articles of association of the company, what kind of activity is defined for the company.
They often register because they are unaware of Turkish law and Iran’s financial problems and sanctions, and without considering these issues. And in the process of opening a company account, they get into trouble. And the bank does not open an account for the company. For this reason, it is very important to consult with an expert and experienced financial consultant about the company’s activities before registering a company.
There are many cases that have problems in opening a bank account and refer to iHomes. Because these people have opened an account once and their application has been rejected, it is not possible to go back to another bank or branch with company details. He took action.
Even by changing the name or changing the company’s activity, you cannot open an account. And the registered company is practically inefficient and they have to close the company. Closing a company also involves costs. Therefore, it is better to consult an expert before registering a company.