TİCİS TÜRKİYE · 05.09.2026
5 September 2026 · TİCİS Weekly Publications · A practical guide to bank transfers
Before sending a large amount from Europe to Türkiye, establish who owns the money, how it was earned and why it is being transferred. Savings, family gifts, export receipts, company capital and shareholder loans require different treatment. A sole trader’s business receipt does not become personal savings simply because the account holder is an individual.
This guide concerns bank transfers. Carrying cash involves separate customs declarations. Europe is not a single national jurisdiction: rules in the sending country must be considered alongside Turkish banking and tax requirements.
1. If you are transferring as an individual
Moving your own savings
TİCİS recommends confirming a suitable foreign currency account in your own name with the Turkish bank. Assemble statements covering the accumulation period, with payslips, tax documents or a sale agreement where relevant. For long-term salary savings, demonstrate how the balance developed rather than providing only a large closing balance.
A remittance alone does not determine income classification. Tax residence, the underlying income, exemptions and the relevant tax treaty matter. Neither “every foreign transfer is tax-free” nor “every transfer attracts income tax again” is a reliable general rule.
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Family support, gifts and inheritance
Distinguish gifts from repayable loans. Family relationships do not automatically create a tax exemption. Citizenship, residence and asset location matter for inheritance and gift tax; filing deadlines depend on the circumstances.
GİB — Veraset ve İntikal Vergisi Kanunu
Prepare documents identifying the parties and purpose of a gift, or proving inheritance, together with evidence of the source and your relationship to the sender. Ask the receiving bank whether foreign documents require translation, an apostille or other certification.
Borrowing abroad or buying property
Individuals resident in Türkiye may not take foreign currency loans domestically or abroad. Describing a transfer as a family loan does not bypass this restriction. Foreign purchasers of Turkish property must also consider the foreign exchange purchase certificate requirements. Consult the bank’s foreign exchange team before proceeding.
TCMB — Sermaye Hareketleri Genelgesi
2. If the transfer is commercial
Goods export receipts
Match the invoice, contract, customs declaration and payment reference. The general repatriation deadline is no more than 180 days after actual export, subject to exceptions. The current temporary rule requires at least 35% conversion for covered export proceeds recorded in an İBKB/DAB through 31 January 2027 inclusive. This is not a deduction from every incoming transfer.
Services and other business receivables
The service, customer and performance period should be traceable across the agreement, invoice and bank reference. Assess where the service is used and its tax treatment separately. A foreign customer’s payment does not automatically establish a VAT exemption. Agree accounting treatment with your accountant to distinguish refunds, advances and collection of older debts from new sales.
Company capital and shareholder funding
A foreign shareholder’s capital payment is a separate transaction whose origin is checked by the bank. Distinguish a capital increase, an existing share purchase and a company loan. Corporate foreign borrowing requires separate examination of foreign currency income conditions and exceptions.
TCMB — Sermaye Hareketleri Genelgesi
TİCİS recommends preparing incorporation or capital resolutions, ownership details, beneficial owner information and any loan agreement before payment. Clarify whether a share purchase price belongs to the company or the selling shareholder. Check interest, tax, KKDF and reporting requirements with the bank and accountant for the specific transaction; do not book every shareholder payment as capital.
3. Prepare a consistent banking file
Banks examine identity, beneficial ownership and purpose on a risk basis and may request further source evidence. Providing documents does not guarantee acceptance or same-day credit.
Our suggested sequence is to verify both parties, assemble evidence of source and purpose, discuss the amount, currency and expected date with both banks, confirm IBAN and SWIFT/BIC through a trusted channel, clarify intermediary fees and exchange terms, describe the real transaction accurately and check actual account credit as well as the payment receipt.
EU rules require information accompanying transfers about the payer and payee. Check national reporting duties in the sending country separately. Splitting payments or using other people’s accounts to avoid checks is not an appropriate solution.
4. The 2027 timetable: special asset reporting is separate
Temporary Article 19 of Law 5520 allows special asset reporting until 31 July 2027, with transfer within two months. The standard 5% rate can fall under conditional commitments; 2027 reports add half a percentage point. This is not a tax on every remittance and does not remove other regulatory safeguards. Eligibility requires review.
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TİCİS analysis: bringing funds into Türkiye does not itself establish a need for this special procedure. First establish the money’s history and ordinary tax position, then assess the scheme’s specific conditions and costs. Exporters should also reconfirm the applicable rule with their bank as a temporary conversion period approaches its end.
The TİCİS perspective
The most useful preparation for a large transfer is a consistent contract, transaction history, tax explanation and banking instruction. For factory investment, incorporation or a commercial partnership, establish the legal and financial structure before sending funds rather than deciding how to classify the payment afterwards.
This publication provides general information and TİCİS analysis, not advice on an individual legal or tax case. TİCİS does not guarantee transfer completion or bank acceptance. Complete the transaction-specific assessment with your bank, accountant and, where necessary, lawyer.