Ask your Legal Questions

Mahdieh Mohammadi

posted 2 years ago

I plan to invest in Turkey by establishing a company and starting a wholesale business there. I have an Iranian business partner residing in Turkey but I myself am not going to move to Turkey. For setting up this business I want to open a joint bank account, But since I’m not residing in Turkey I can’t do the singing part while a joint account requires the signatures of both parties. Can I give authorization to my business partner or an Iranian bank to do the signing on my behalf? Or if none of these options is safe what would you suggest?

Country

Turkey

Fields:

Commercial and Business Law
Banking and Financial
Corporate and Company

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Hande Yilmazcan

Lawyer

posted 2 years ago

Dear Sir/Madame First of all, it is good to hear from Iran and we would glad to help you. You wellcome. Let us understand the issues clearly then we should answer your questions. 1-are you going to set up a new company? Or willing to be a partner of a company? 2-if you set up a new one, what is the field of business going to be? You wrote whole sale, is it textile? 3-you need a personel bank account or business account in bank? 3-would you also willing to be a citizen? 4- no worries they are possible with letter of attorney. We are waiting yoir answers Best Regards Hande

S.Venkateswar Patnaik

Lawyer

posted 2 years ago

International business can be done without having any Bank Account in the place of business.Purchases and Sale Transactions can be made by internet banking,Wire Transfer, PayPal etc. E-commerce business Amazon, Flipkart etc are good examples Thanking you. With regards, S.Venkateswar Patnaik, High Court Advocate, Bhubaneswar, Odisha state India Mobile Number📱📞+918480613309 Email📧 [email protected]

Sadi Berk Suner

Lawyer

posted 2 years ago

You can not open a bank account in Turkey if you do not have a residence permit.The banks also do not allow you to use your account as we have recently informed by some of our foreign clients who had opened a bank account before but does not have a valid residence permit now.Their accounts are getting blocked.So, nobody will be allowed to open a bank account on your behalf.However the company can have a bank account but you can not have a personal bank account.

KUBRA OZREİSOGLU

Lawyer

posted 2 years ago

Bank proceedings can be complex and require tons of form filling/agreement execution etc. It would be better if you can appoint someone residing in Turkey to easily get done all bank related proceedings. At this point, I recommend you to give a PoA to your partner or a reliable attorney to proceed with the bank account opening proceedings on your behalf. Or maybe, you may consider to open a bank account for your company if you have established already.