Offices
+36 70 421 32 63

Updated: August 2026

Case study · Turkey · Banking

How a buyer of an Antalya flat openedan account in time for completion

Eleven days remained before the sale contract was to be signed when it emerged that without a Turkish account the deal would not close: the money had to pass through a local bank with mandatory currency conversion. Karina’s own attempt to open an account ran into the absence of a tax number and proof of address. We assembled what was missing and opened the account in a week - the transaction completed on the appointed day.

Dmitry NagyDmitry NagyInternational Tax Consultant, BRIDGESReading time10 min readVerificationReviewed by an expert

This case is based on a real matter. The name and certain identifying details have been changed to protect confidentiality.

BRIDGES client story - How a buyer of an Antalya flat opened an account in time for completion
Contents

Case at a glance

Situation, solution and outcome in seven lines

Client
Karina, 52, owner of a consulting practice
From
Almaty, buying a flat in Antalya
Objective
a Turkish bank account in time for the property transaction
Problem
11 days to completion, no tax number and no address in Turkey
Solution
tax number, file and account opening at a state bank
Timeline
account opened in 7 days
Outcome
the transaction closed on the appointed date

Client story

How the situation developed

Where they started

Karina had chosen a flat in Antalya and agreed the price and completion date with the seller. The seller’s lawyer sent through the settlement scheme, and it contained a detail the estate agent had not mentioned: payment must go through a Turkish bank, with currency conversion as required by law and a conversion certificate for registering the transaction.

The solo attempt

At the very first branch Karina was refused: no Turkish tax number. At the second she was asked for proof of an address in Turkey, which she also did not have - she was staying in a hotel. Online appointments for account opening were booked a week ahead in high season, and eleven days remained before completion, including two weekend days.

Why the deadline was hard

Moving the completion date risked losing the flat: there was a second buyer for the property and the seller said plainly that he would not wait. The deposit was non-refundable if the deal fell through on the buyer’s side.

Why she could not simply pay from abroad

Karina’s first thought was to simplify: transfer the money to the seller directly from Kazakhstan and avoid a Turkish bank altogether. The seller’s lawyer rejected that, and rightly: the law requires the currency to pass through a Turkish bank with conversion, and the conversion certificate is part of registering a transaction with a foreign buyer. The workarounds - a transfer to a third party’s account or cash - created risks not of timing but of substance: an opaque payment trail in a property transaction comes back to haunt you for years.

How the bank and branch were chosen

We chose a state bank with a high volume of foreign property buyers: at such branches the procedure is well practised and the requirements predictable. The choice of the specific branch mattered just as much - one in a tourist district of Antalya, where a foreigner with a stack of translated documents is an ordinary visitor rather than the event of the day. We agreed the day, the hour and the document list with the branch in advance: the client arrived for a procedure, not for a queue.

What we did

We took on the whole chain: obtained the tax number, prepared the document set to the specific branch’s requirements, agreed a visit for a particular day, and pre-agreed the conversion procedure with the bank so that the money would arrive, be converted and go to the seller in the right order.

Nobody - not the agent, not the seller - told me in advance that I would need a Turkish account and a tax number. I found out a week and a half before completion and panicked. After that everything was done for me: I only had to arrive at the bank at the appointed hour with my passport.

Karina · buyer of property in AntalyaThe name and certain identifying details have been changed to protect confidentiality.

What was at stake

The price of being late is the deposit and the flat

In this transaction the account was not a convenience but a mandatory link: without it the payment could not be made lawfully and the certificate for registration could not be obtained.

In property transactions the banking part must be ready before the contract is signed, not resolved alongside it.

  1. 01Losing the deposit if the completion date failed through the buyer’s fault
  2. 02The property going to the second buyer, who was waiting with funds ready
  3. 03The risk of an incorrect settlement scheme without the mandatory conversion - problems at registration
  4. 04Rescheduling the trip and paying again for flights and accommodation

A race against the clock

Eleven days: how it was done in time

The chart is built from the facts of this matter and shows the logic of the work without decorative or unverified data.

Days to completion11
Account opened in7 days
ReschedulingNot required
  1. Stage 1

    Day one: the settlement scheme reviewed and the banking chain mapped.

  2. Stage 2

    The tax number obtained at the Antalya tax office in a single visit.

  3. Stage 3

    The address question closed with accommodation confirmation and the preliminary contract.

  4. Stage 4

    The document set assembled to the requirements of one specific branch.

  5. Stage 5

    The visit agreed for a set day and hour, with a Turkish SIM arranged the same day.

Takeaway. In property transactions the banking part must be ready before the contract is signed - not resolved alongside it.

The file for the bank

What the bank needed from a non-resident

The work was split into verifiable stages so that every conclusion rested on documents.

  1. 01

    Stage 1

    Obtained at the Antalya tax office in a single visit - the basic condition at any Turkish bank for a non-resident.

  2. 02

    Stage 2

    The hotel question was closed in a way the bank accepts: confirmation of accommodation plus the address of the future flat under the preliminary contract.

  3. 03

    Stage 3

    Savings from the consulting practice: statements and tax returns with key pages translated.

  4. 04

    Stage 4

    The preliminary sale contract explained the economics to the bank: a one-off property transaction with clear amounts and dates.

  5. 05

    Stage 5

    We arranged a Turkish phone number on the day of the visit: without it transaction confirmation does not work, and neither does managing the account remotely after departure.

How the work went

From first call to result

  1. 01Obtained at the Antalya tax office in a single visit
  2. 02The hotel question was closed in a way the bank accepts
  3. 03Savings from the consulting practice
  4. 04The preliminary sale contract explained the economics to the bank
  5. 05We arranged a Turkish phone number on the day of the visit
  6. 06Stage 6

The sequence and timing reflect this particular matter and depend on how complete the documents are and on decisions of the competent authorities.

Expert comment

Half of all urgent banking requests for Turkey are property transactions where the account was remembered at the last moment. The requirements are simple: a tax number, a clear source of funds, a proper purpose for the account. But branch practice varies, and in high season it is the queues rather than the checks that consume the time. We win days by knowing a specific branch’s requirements in advance and arriving with a complete set.

Dmitry Nagy, International Tax Consultant, BRIDGESDmitry NagyInternational Tax Consultant, BRIDGES

Outcome

What the client received

Tax number
Obtained in 1 visit
Bank account
Opened in 7 days, with online banking
Conversion for the transaction
Carried out as the law requires, certificate obtained
Completion date
Met, with no rescheduling
Deposit
Preserved

The transaction closed on the appointed day. The account remained a working tool for Karina: utilities, taxes and the flat’s running costs are paid from it.

Practical takeaway

What matters in a similar situation

  • The banking part of a Turkish property transaction is prepared before the contract is signed: the account, the tax number and the conversion procedure.
  • Branch requirements differ - the document set is assembled for a specific branch, not from general lists found online.
  • In high season it is queues rather than checks that consume time: a scheduled appointment saves a week.

FAQ

Questions people ask in a similar situation

01Why do you need a Turkish account when buying property?

Settlements are made through a Turkish bank with mandatory currency conversion as required by law. The conversion certificate is needed to register the transaction.

02What does a non-resident need to open an account in Turkey?

As a baseline, a foreign passport and a Turkish tax number; some branches also ask for proof of address and a local SIM card. The exact list depends on the bank and the branch.

03How long does opening an account take?

With the tax number in hand and an appointment agreed, from one to a few working days. Without preparation the process stretches into queues and repeat visits.

04Can a Turkish account be opened remotely?

The standard route is a personal visit. For certain tasks a representative acting under power of attorney works; applicability is checked for the specific situation.

05Can you transfer money to the seller directly from abroad?

For a transaction registered to a foreigner, no: the currency passes through a Turkish bank with mandatory conversion, and the conversion certificate is part of the registration pack. Direct and cash arrangements create risks to the substance of the deal.

About the author

Dmitry Nagy

Author: Dmitry Nagy

International Tax Consultant, BRIDGES

I lead the international tax practice at BRIDGES and work at the intersection of tax residence, cross-border reporting and banking compliance. I assess how citizenship, residence, relocation or a new ownership structure may affect the client's tax obligations, banking profile and capital.

My work covers tax residence, CRS and FATCA requirements, source of funds and the questions a bank may raise. These elements should be considered together, because inconsistencies between documents, declarations and the underlying circumstances can create risks after a status has been obtained or an account has been opened.

During the consultation, you will receive an assessment of the tax and banking implications of the proposed decision. Where further work is required, I determine the financial documentation and personally oversee the tax and compliance aspects of the BRIDGES project.

Prepared on the basis of BRIDGES practice and reviewed by a subject-matter expert.

Discuss your situation with Dmitry

We will review your situation and propose a solution

Describe your task in a few words. We will study your situation, assess the legal and practical options and propose the next step based on your goals, documents and country.

Confidential · no obligations · answered by the relevant specialist

Or message us on WhatsApp or Telegram

Dmitry NagyInternational Tax Consultant, BRIDGES
Dmitry Nagy, International Tax Consultant, BRIDGES

Names and certain details have been changed to protect client confidentiality. The result described reflects one specific situation and is neither a public offer nor a guarantee of a similar outcome. Programme terms are stated as of 2026 and may change - please confirm current parameters with a BRIDGES consultant.