Published by Bayraktar Attorneys – Legal Advisors in Investment and Immigration
In today’s uncertain global economy, foreign investors are increasingly seeking secure and profitable banking opportunities that offer meaningful returns on capital. Turkey currently presents one of the most attractive savings environments in the world, with deposit interest rates in Turkish Lira (TRY) reaching 50% to 55% annually.
Through our law firm, Bayraktar Attorneys, foreign individuals and corporate investors can open Turkish bank accounts without the need for a residence permit. This gives international clients full access to Turkey’s advantageous interest rates and flexible banking structure.
What Are Profitable Deposit Accounts in Turkey?
These accounts are fixed-term deposit accounts offered by Turkish banks that provide substantially higher interest earnings than ordinary savings accounts. They are structured to reward account holders with elevated interest rates in exchange for agreeing to keep their funds deposited for a set period—ranging from 1 month to over a year. However, way shorter terms are also available.
Turkish Lira accounts in particular offer much higher returns compared to those in USD or EUR, due to both monetary policy and current economic conditions. Some banks even provide overnight interest options, meaning investors can earn daily returns between 11:00 p.m. and 6:00 a.m. without committing to long-term lock-in periods. These options can still benefit from annualized rates approaching 55%, depending on the amount and selected bank.
Turkish Lira accounts in particular offer much higher returns compared to those in USD or EUR, due to both monetary policy and current economic conditions. Some banks even provide currency-protected deposit options, ensuring that if the Turkish Lira depreciates during the term, the bank pays the difference by adjusting the amount in TRY to match the value in USD.
Why Choose Deposit Accounts in Turkey?
1. Exceptional Interest Rates
Interest rates for TRY deposit accounts currently range from 45% to 55% per annum, depending on the amount, term, and bank. This is significantly higher than the global average.
2. Foreigners Can Open Accounts Without Residency
Thanks to legal provisions and our established procedures, non-resident foreigners can open Turkish bank accounts through a legal power of attorney. Our law firm handles this process from start to finish, without the client needing to travel or hold a residence permit.
3. Currency Flexibility and Protection
Investors can open accounts in TRY, USD, or EUR, with Turkish Lira offering the highest interest potential. In addition, some banks offer exchange rate protection, which ensures that if the TRY loses value against the dollar, the interest return will be adjusted accordingly to maintain the value in USD terms.
4. Reliable and Regulated Banking System
Turkey’s banking system is regulated by the Banking Regulation and Supervision Agency (BDDK) and deposit accounts are insured by the Savings Deposit Insurance Fund (SDIF) up to TRY 650,000 per depositor per bank.
5. Short and Long-Term Options
Deposit terms range from 1 month to 1 year or more, allowing investors to select durations that suit their financial strategies. Early withdrawal may reduce or eliminate earned interest, so it's important to choose terms carefully.
Required Documents to Open an Account
Foreign individuals need the following documents:
A valid passport
A Turkish Tax Identification Number (easily obtained via our legal assistance)
Proof of address (a utility bill or bank statement from the home country)
Example Return: TRY Deposit at 50% Interest Rate
For a short-term overnight deposit of TRY 10,000,000 at an annualized interest rate of 50%:
Gross Interest (Annualized): TRY 5,000,000
Daily Interest (Approx.): TRY 13,698 per day
Net Return for One Night (after 7.5% withholding tax): TRY 12,667
This means that even overnight placements can generate significant returns for high-net-worth investors, offering flexibility without long-term commitment.
Our Legal Services for Non-Resident Investors
At Bayraktar Attorneys, we offer end-to-end legal and banking solutions:
Opening bank accounts for non-resident individuals and companies
Advising on the best banks and terms for deposit profitability
Coordinating fund transfers and compliance procedures
Ensuring tax efficiency and legal protection
Preferred Banking Through QNB Finansbank (Qatar National Bank Group)
At Bayraktar Attorneys, we also assist our clients in remotely opening accounts at QNB Finansbank, a reputable private Turkish bank owned by Qatar National Bank (QNB Group)—the largest financial institution in the Middle East and Africa. Thanks to our direct partnerships and professional contacts, we ensure swift and secure account openings for non-resident clients, enabling them to immediately benefit from Türkiye’s high-yield deposit environment with the reliability of a globally recognized banking group.
Final Thoughts
In a global climate where inflation erodes savings and traditional interest rates remain low, Turkey offers a rare opportunity to earn substantial, secure, and legally protected returns through profitable deposit accounts.
With no residence permit required, and with experienced attorneys managing the entire process, foreign investors can benefit from one of the most favorable deposit environments available today.
Contact Bayraktar Attorneys to discuss how we can help you or your organization open a profitable deposit account in Turkey and benefit from today’s exceptional interest landscape.
