Which Bank is the Best to Do Offshore Banking in Turkey?10 min read

Which Bank is the Best to Do Offshore Banking in Turkey?10 min read

Turkey has emerged as an attractive emerging market destination with a growing economy and potential for high returns in offshore banking. 

As the global economy continues to become more interconnected, investors are looking beyond their domestic markets for investment opportunities. 

However, as a foreign investor you want to make sure your assets are protected and handled properly. That’s where opening an offshore banking account in Turkey comes in.

An offshore banking account allows you to conveniently access the Turkish market while taking advantage of greater privacy, tax benefits, and regulatory protections offered through an offshore jurisdiction. 

But with various banks offering offshore services, which is the best choice for banking in Turkey from abroad? Let’s take a closer look at some top options.

Opening an Offshore Banking Account for Investment in Turkey

The Kingdom Bank has emerged as a leading choice for those seeking to do offshore banking in Turkey. 

As a licensed and regulated digital bank based in Dominica, The Kingdom Bank provides a secure and fully digital way to open an offshore account tailored for foreign investment in Turkey.

Some key benefits of opening an offshore account with The Kingdom Bank include:

• No minimum deposit or balance requirements, allowing you to start with as little as you need.
• Access to Turkish lira (TRY) accounts as well as multi-currency accounts for easy cross-border transfers.
• Banking completely online through their secure web and mobile platforms with no need to visit Turkey.
• Competitive exchange rates for transferring funds into and out of your TRY account.
• Ability to directly invest in Turkish stocks and bonds from your account through integrated brokerage services.
• Advanced security features like two-factor authentication and end-to-end encryption for peace of mind.

By using an offshore account provider with experience serving international investors, you gain expertise tailored for your needs along with the regulatory protections of an offshore jurisdiction. 

For offshore banking access to Turkey, The Kingdom Bank stands out as a top choice.

Which Online Bank is Best to Open an Offshore Bank Account in Turkey?

For those interested specifically in opening an offshore bank account in Turkey online without the hassle of visiting local branches, The Kingdom Bank stands out as the top option.

Based in Dominica with a pedigree of serving wealthy private clients globally, The Kingdom Bank meets all regulatory requirements to provide legitimate offshore banking services. What sets it apart however is the entirely digital experience – from application to account management.

Individuals seeking a Turkish offshore account can complete the entire Know Your Customer verification process online in just a few minutes using ID documents and a short video call. 

Approved users then gain 24/7 access to a full-featured private banking digital platform.

Highlights that make The Kingdom Bank the best choice for online account opening in Turkey include:

• Multi-currency accounts in USD, EUR and TRY that avoid exchange fees on transfers.
• Deposit rates up to 60% APY, higher than most Turkish banks offer domestically.
• An intuitive mobile app and web portal for easy fund movement anytime, anywhere.
• All customer support interactions are conducted digitally through email, phone or live chat.

For ease and convenience above all else, The Kingdom Bank checks all the boxes as the top online option for an offshore bank account in Turkey. Sign up takes minutes from the comfort of home.

Investment Management with Offshore Banking Account in Turkey

Once you’ve opened an offshore banking account through The Kingdom Bank, you’ll want to put those funds to work investing in the Turkish economy. 

The bank offers integrated investment platforms that let you easily purchase Turkish stocks and bonds directly from your offshore account.

Some advantages we offer include:

• Experienced Turkey-focused portfolio managers to research opportunities and place trades.
• Ability to start accounts with as little as $10,000 and pay low percentage-based wealth management fees.
• Dedicated account manager keeps you updated and tailored investment suggestions.
• Robust online client portal provides 24/7 access to view holdings, statements, and generate reports.
• Option to choose from differently risk-aligned investment mandates or have a fully customised strategy.

Can Foreigners Open Offshore Banking Accounts in Turkey?

A common question for foreign investors is whether they can directly open an offshore banking account in Turkey itself rather than through a third-party digital bank. The answer depends on the person’s residency and situation.

In most cases, foreigners cannot directly open an offshore account in Turkey unless they have residency and meet additional criteria banks impose. 

This is because the primary purpose of offshore banking accounts in Turkey is to allow Turks to protect assets from their own government and tax system rather than being aimed at non-residents.

The easiest choice is usually to open an account online through a licensed offshore digital bank that serves international clients, like The Kingdom Bank for example. 

This allows foreigners to access Turkish investment opportunities fully remotely without the hassles of Turkish residency requirements.

However, certain high-net-worth individuals who have permanent residency or work permits for Turkey issued by the government may qualify on a case-by-case basis to open accounts directly at some Turkish banks with offshore licences. But a digital bank remains the most streamlined solution for most.

Opening an Offshore Bank Account in Turkey Online

For investors seeking efficient and secure offshore banking access to Turkey, a digital bank is the best overall choice. 

Use The Kingdom Bank for its expertise, excellent functionality and prices serving international investors – allowing to open an account fully online without the need to set foot in Turkey.

This provides simplicity, full digital capabilities including intuitive mobile apps, and the regulatory oversight of being licensed offshore financial institutions. 

From there, you can take advantage of integrated investment platforms, third-party portfolio managers, and all the unique opportunities throughout the economy of this promising emerging market.

Offshore banking is key to protecting wealth and maximising freedom as an overseas investor in Turkey. 

Done right through a premier digital offshore bank, it becomes a convenient gateway to a high-potential investment destination.