Payment Institution Licences in Türkiye: Documents

Companies that want to provide payment services or issue electronic money in Türkiye apply to the Central Bank of the Republic of Türkiye (TCMB) under the regulation on payment services and electronic money issuance. The application has two steps, an intelligence review and final approval, and is handed in at the Central Bank's head office. Foreign shareholders, managers and partners bring documents from abroad.

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 consulate there, or under the Apostille Convention, and notarised translations must be attached. From foreign nationals, the Central Bank requests the documents it considers necessary that can be obtained under that country's law. If a document cannot be obtained because the country has no authority or system keeping such records, this must be proven with a document from that country's competent authorities; if even that is impossible, the persons concerned must declare it in writing.

Shareholders and managers

At the intelligence review stage, the application includes notarised copies of the identity cards or passports of foreign individuals whose documents are submitted, criminal record certificates with archive records for individual qualifying shareholders and controllers, detailed information on legal entity shareholders with financial statements approved by a certified public accountant or audited, any powers of attorney given to shareholders' representatives, and declarations on the regulation's models signed before a notary. For board members and the general manager, foreign nationals provide notarised copies of identity cards or passports and criminal record certificates; the general manager also provides a notarised copy of a bachelor's degree. Where shares are taken over by a bank or financial institution established abroad, the documents listed in the regulation and a share transfer checklist are attached.

Institutions offering services together with a legal entity established abroad submit its competent bodies' decision on the activity in Türkiye, a copy of its payment services or e-money licence in its own country, and a document from its supervisory authority on compliance with international anti-money-laundering rules.

We prepare notarised Turkish translations of foreign corporate documents, criminal records and licences in Ankara through translators sworn before a Turkish notary. The Central Bank decides on licences.