Banking Licences in Türkiye: Foreign Documents

Foreign banks that open a branch or representative office in Türkiye, and foreign investors acquiring shares in a Turkish bank, apply to the Banking Regulation and Supervision Agency (BDDK). The regulation on banks' transactions subject to permission and on indirect shareholding sets out which documents are required and how foreign documents are certified.

Certification and translation

Documents obtained from abroad for applications under the regulation must be certified by the competent authorities of the country concerned and by Türkiye's embassy or consulate there, or under the Hague Apostille Convention, and notarised translations of the documents must be attached to the application. From foreign nationals, BDDK requests the documents it considers necessary that can be obtained under the law of their country. If a criminal record, bankruptcy or composition certificate cannot be obtained because the country has no authority or system keeping such records, this must be proven to BDDK with a document from that country's competent authorities.

Branches, offices and shares

A foreign bank opening its first branch in Türkiye submits an application petition to BDDK. The documents include copies of its competent bodies' decision to open a branch in Türkiye, a document from those bodies showing that taking deposits or banking activities are not prohibited or restricted in the country where it was established or operates, and a list of shareholders certified by the competent authorities of its home country.

For a representative office, the bank submits a document from the relevant official authority showing that its deposit-taking, lending and other banking activities are not prohibited or restricted, together with copies of its competent bodies' decision to open the office. In share acquisitions, each acquirer signs before a notary a declaration drawn up on the regulation's annexed models; a foreign bank or financial institution taking over shares adds copies of its competent bodies' decision.

We prepare notarised translations of foreign corporate documents and certificates in Ankara through translators sworn before a Turkish notary. BDDK decides on permissions.