Opening a Bank Account and Transferring Money to Buy Property in Türkiye

Paying for a property in Türkiye is not just a matter of sending money. How and where you pay affects your paperwork, your eligibility for citizenship or a residence permit, and your ability to take money out again later. This guide explains the practical steps.

Step 1: get a Turkish tax number

A tax number (vergi numarası) is needed for the title deed, for utility contracts and, in practice, for opening a bank account. It is issued at a tax office with your passport, usually the same day. It can also be arranged through a representative.

Step 2: open a bank account

• What banks usually ask for: your passport, your tax number, an address (in Türkiye or abroad) and information about the purpose of the account and the source of your funds.
• Non-residents can open accounts, but approval is not automatic. Banks look more closely at non-resident applications, and some ask for a residence permit. Explaining that the account is for a property purchase, with supporting documents, helps.
• Foreign-currency accounts are widely available, so you can hold euros, dollars or pounds as well as lira.
• Expect questions. Turkish banks carry out anti-money-laundering checks and may ask where the money comes from. Have documents ready: payslips, a sale contract for another property, investment statements or similar.

Step 3: transfer the money

• Use a bank transfer from an account in your own name. Avoid cash and payments through third parties: they create problems at the land registry, for tax and for any residence or citizenship application.
• Keep every record: transfer confirmations, bank statements and exchange receipts.
• Match the paperwork. The amounts in your transfers, the sales contract and the declared price at the title deed transfer should tell the same story.

If you are applying for citizenship

For the citizenship route, the purchase price must be brought into Türkiye in foreign currency and sold to a Turkish bank, which issues a currency exchange certificate. The rules are specific, so follow your lawyer's instructions exactly. See our citizenship guide.

VAT on new homes

When you buy a new home directly from the developer, bringing the payment in as foreign currency can, under certain conditions, qualify the first sale for a VAT exemption. Ask before you pay, because the conditions are strict.

Taking money out later

Keeping clear records of how the money came in makes it much easier to transfer sale proceeds abroad in the future. Read our guide to selling your property.

Rules and fees in Türkiye change from time to time. This article reflects the situation as of September 2026 and is general information, not legal or tax advice. Confirm the details for your own case with a licensed lawyer or accountant.

For the full purchase process, read our step-by-step buying guide, or send me a message with any questions.