Banking and Finance Law Firm in Turkey
Turkey’s dynamic and evolving financial market offers significant opportunities for investors, corporations, and financial institutions. However, navigating its complex regulatory landscape, from banking compliance with the BRSA (BDDK) to structuring large-scale project finance, requires a legal partner with deep sectoral knowledge and strategic foresight. This guide outlines the core areas of banking and finance law in Turkey and explains how our firm provides the expert counsel needed to facilitate your transactions and protect your investments.
Why do you need for a legal servcie by banking and finance law firm in Turkey?
There are several reasons for benefiting from a full-fledged support by a banking and finance law firm in Turkey.
1.Tax Account Opening Process
It is beyond doubt that opening a local bank account is one of the most essential steps for any foreign entrepreneur, company, or individual intending to conduct financial, commercial, or investment-related activities in Turkey. Regardless of whether the planned business activity concerns real estate, company incorporation, pure capital investment, citizenship by investment, pure commercial transactions, or day-to-day operational payments, a Turkish bank account is necessary at the earliest possible stage. Enjoying a bank account enables all financial flexibilities and convenience for payment deposit and transfers between the concerned accounts in full compliance with regulatory framework. Accordingly, bank account opening is not merely an administrative formality, but a strategic gateway for entering the Turkish investment area in a compliant, transparent, and operationally effective manner.
2. Banking Regulatory Compliance in Turkey
The Banking Regulation and Supervision Agency, known as BRSA in English and BDDK in Turkish, is the main regulatory and supervisory authority for the banking sector in Türkiye. It is responsible for ensuring that the institutions subject to its supervision operate in a safe, sound, and compliant manner under the Banking Law and other applicable regulations. BRSA also plays a key role in maintaining the efficient functioning of the credit system, protecting the rights and interests of savers, and contributing to the development of financial markets and financial stability.
The BRSA operates as an independent and reliable regulatory authority in the Turkish banking and financial sector. It performs its duties without receiving instructions from any authority, observes the public interest, ensures transparency and accountability, cooperates with national and international institutions, and carries out its activities with a focus on risk, quality, effectiveness, and regulatory stability.
BRSA compliance is particuarly essential for banks, leasing and factoring companies, financing companies, asset management companies, investors, shareholders, and all other banking market participants. Any financial entrepreneurs operating in the Turkish financial sector must comply with BRSA rules not only during the licensing or establishment stage, but also throughout its daily operations. These requirements may relate to corporate governance, internal control systems, risk management, capital adequacy, audit procedures, reporting obligations, management structure, outsourcing, regulatory disclosures, and communication with the authority.
3. CBRT / TCMB Regulations
The Central Bank of the Republic of Türkiye [CBRT in English | TCMB in Turkish] was established to ensure price stability, support financial stability, regulate money and foreign exchange markets, manage Türkiye’s reserves, issue banknotes, and oversee payment and securities settlement systems. Through these functions, the core rolo of the CBRT is to maintain monetary stability and to secure functioning of the Turkish financial system. Accordingly, any consultancy and representation process by a banking and finance law firm in Turkey should also take into account that that the Central Bank plays a central role in maintaining monetary stability, financial system security, and the effective functioning of Türkiye’s payment infrastructure.
4.MASAK Anti-Money Laundering Compliance
The core mission of the Financial Crimes Investigation Board, mainly known as MASAK, is to contribute to the formulation of policies and regulations for the prevention and detection of laundering and terrorism financing crimes, to collect and analyse information in a fast and reliable manner, to conduct research and examinations, and to convey the information and results obtained to the relevant authorities. Any legal advisory service provided by banking and finance law firm in Turkey must be structured in full alignment with MASAK’s critical role in anti-money laundering, counter-terrorist financing, customer due diligence, suspicious transaction reporting, and financial crime prevention.
5.Capital Markets Board Compliance
Where particularly FinTech business model intersects with capital markets activities, the compliance with the Capital Markets Board of Türkiye, known as SPK in Turkish, represents a critical stage. For that reason, legal advisory services by any banking and finance law firm in Turkey must therefore be structured in line with the Board’s core objectives, including enhancing investor protection, promoting transparency and fairness in capital markets, integrating international capital markets standards into Turkish regulations, strengthening both the supply and demand side of the markets, modernising market structures, and improving the overall infrastructure of the capital markets.
Accordingly, FinTech companies can operate in full compliance with SPK regulations particulary Double FinTech Regulations. Türkiye has introduced a more structured regulatory framework for crypto asset service providers. The Communiqué on the Principles Regarding the Establishment and Activities of Crypto Asset Service Providers No. III-35/B.1 and the Communiqué on Operating Procedures and Capital Adequacy of Crypto Asset Service Providers No. III-35/B, collectively referred to as the “Twin Communiqués,” were published by the Capital Markets Board of Türkiye in the Official Gazette dated 13 March 2025 and numbered 32840. These regulations introduced significant rules on the establishment, operation, governance, internal systems, capital adequacy, and compliance obligations of crypto asset service providers, marking an important regulatory milestone for Türkiye’s FinTech and crypto asset ecosystem.
Our Expertise for the Financial Sector
Pi Legal Consultancy, as one of the leading banking and finance law firm in Turkey, provides tailored legal services for the key players in the financial ecosystem, understanding the unique challenges and objectives of each.
For Banks & Financial Institutions
We provide comprehensive legal support to local and international banks, payment institutions, and other financial entities on all aspects of Turkish financial regulations. Our services include advisory on licensing, regulatory compliance with the BRSA and Capital Markets Board (CMB/SPK), and the structuring of complex financial products.
For Investors & Corporations
We act as strategic advisors for corporations, private equity funds, and project developers in their most critical financial transactions. Our expertise includes securing project finance for large-scale energy and infrastructure developments, structuring acquisition finance for M&A deals, and negotiating complex syndicated loan agreements.
For Individuals Investors
Individual investors need a targeted consultancy by banking and finance law firm in turkey for taking any financial steps. For instance, despite the fact that opening a bank account has a procedure without any hassle, that is not the case for foreigners. Indeed there are several steps in opening a bank account for a foreign entrepreneur in Turkey including :
- the issuance of TAX ID,
- the application to the relavant banking branch,
- the submission of application file including residence address and passport as well as Turkish tax ID,
- the provision of a local phone number
Our Core Banking & Finance Law Services
Pi Legal Consultancy, as a well-known banking and finance law firm in Turkey, enjoys banking and finance law working group consisting of banking lawyers, FinTech attorneys, risk assessment experts, debt restructring lawyers and consultants. Pi Legal Consultancy provides strategic legal support to all parties including banks, financial institutions, private entrepreneurs, FinTech companies, foreign investors operating in Türkiye. Our banking and finance working group can offer regulatory insight and strategic assessment, risk management anaylsis and dispute-resolution experience where needed. Our practice is structured to cover the full spectrum of banking and finance law, providing sophisticated, end-to-end legal support for our clients’ most critical transactions. We offer expert counsel in the following key areas:
Opening and Management of the Banking Account
It is worth reiterating at this juncture that foreign investors, entrepreneurs, companies, and individuals always need a local bank account for safe transfer of investment funds, real estate purchase, establishment and operation of a company and|or a branch and|or a liasion office, management of taxation obligations, business operations. For this reason, bank account opening is not only a procedural step, but also a critical legal and operational requirement for doing business in a secure, transparent, and compliant manner.
Pi Legal Consultancy can help for the whole procedure for opening an account and the full management of the account on behalf of our national or international clients.
Project Finance
We provide comprehensive legal counsel for all stages of large-scale project financing in Turkey, particularly in the energy, infrastructure, and construction sectors. Our services include drafting and negotiating complex financing agreements, structuring security packages, and ensuring full regulatory compliance.
Acquisition Finance (M&A Financing)
We work seamlessly with our M&A practice to provide integrated legal advice on the financing of corporate acquisitions. We represent both borrowers and lenders in structuring and documenting leveraged buyouts, share acquisitions, and other complex financing arrangements related to corporate transactions.
Banking Regulation & Compliance
Our team provides ongoing advisory to banks, payment service providers, and other financial institutions on their compliance with the strict regulations set forth by the Banking Regulation and Supervision Agency (BRSA) and the Capital Markets Board (CMB/SPK) of Turkey.
FinTech, Blockchain & Digital Banking
Positioned at the forefront of financial innovation, we are one of the leading Fintech law firms in Turkey. We provide expert legal guidance to startups and established institutions on payment systems, e-money, open banking, and the evolving regulatory landscape for blockchain and crypto-assets.
Capital Markets
We advise our clients on a range of capital markets transactions, including debt and equity offerings, bond issuances, and ensuring ongoing compliance with CMB regulations for publicly traded companies.
Our Founding Partners: A Synergy of Finance & Trade Expertise
Our Banking & Finance practice is driven by the combined strategic vision of our founding partners, offering our clients a unique synergy of financial and international trade law expertise.
Aladdin İraz – Expertise in International Trade & Commerce
Aladdin complements our financial practice with his extensive experience in International Trade Law and arbitration. He provides critical guidance for our clients on the commercial aspects of their investments, trade finance, and cross-border transactions, leveraging his strong network within the Turkish business world.
Our Representative Experience in Banking & Finance Law
Our lawyers have a proven track record of advising a diverse range of international and domestic clients on a wide variety of complex financial transactions. While maintaining strict client confidentiality, the following are representative examples of the matters our team handles:
- Advised a leading European energy company on the project financing for a major solar power plant (SPP) development in Central Anatolia.
- Represented an international private equity fund in structuring the acquisition finance for its buyout of a Turkish technology company.
- Provided comprehensive regulatory counsel to a UK-based FinTech startup on its market entry strategy and licensing process for payment services in Turkey.
- Acted as the legal advisor for a syndicate of international lenders in a multi-million dollar secured loan facility provided to a Turkish manufacturing corporation.
- Structured and negotiated complex credit agreements for a major infrastructure project on behalf of the corporate borrower.
Led by an Award-Winning Team
Our Banking & Finance practice is driven by the strategic vision of our founding partners. This leadership and the firm’s commitment to excellence were recently recognized internationally when Pi Legal Consultancy was named “Finance Law Firm of the Year” in the CorporateLiveWire Innovation & Excellence Awards 2025
Our Presence in Istanbul: The Heart of Turkey’s Financial Sector
As the financial and commercial heart of the country, Istanbul is the undisputed epicenter of banking and finance law in Turkey. It is home to the headquarters of all major national and international banks, the Borsa Istanbul stock exchange, and the country’s leading financial institutions and investment funds.
Our Istanbul office is strategically positioned to provide on-the-ground, immediate legal support for these key players. Our team of banking and finance lawyers in Istanbul has direct, hands-on experience in managing complex transactions and navigating the regulatory landscape from the very center of the market, providing our clients with a distinct competitive advantage.
Frequently Asked Questions (FAQ)
How can foreigners open a bank account in Turkey?
The process of opening a bank account for foreigners in Turkey can be carried out with a passport, an address declaration, and a potential tax identification number, which can be obtained provided that the individual has personally entered Turkey. However, various restrictions may arise due to the changing internal policies and compliance rules of the banks. In order to avoid such problems or to resolve them quickly, it is of great importance to choose banks that have experience working with foreign clients and to seek the support of a lawyer. Obtaining professional legal and financial support from the very beginning of the process will provide significant benefits in preventing potential problems, as well as the loss of time and rights.
What sectors do you specialize in for Project Finance?
Our team has significant experience in providing legal counsel for project finance deals in Turkey’s key growth sectors. This includes renewable energy (solar, wind, geothermal), large-scale infrastructure (airports, ports, highways), and major commercial real estate and construction projects.
What does a FinTech lawyer do?
A FinTech lawyer provides legal guidance to financial technology companies. Our role includes advising on the complex licensing process for payment and e-money institutions with the BRSA, ensuring compliance with data protection (KVKK) and anti-money laundering (AML) laws, and structuring contracts for blockchain and other digital financial services.
How does legal support for Acquisition Finance work?
In a Merger & Acquisition (M&A) deal, our role is to advise on the legal structure of the financing used to purchase the target company. We draft and negotiate the loan agreements, security packages (pledges, mortgages), and other financial documents to ensure the acquisition is funded securely and in line with our client’s commercial objectives.
Conclusion: Your Strategic Partner in Turkish Finance Law
Navigating Turkey’s complex financial and banking landscape requires more than just a lawyer; it requires a strategic partner who understands both the legal regulations and your commercial goals. Our award-winning team, with its unique blend of financial, commercial, and international trade expertise, is dedicated to protecting your investments and facilitating your growth.
This specialized financial counsel is a cornerstone of the holistic legal support we provide to businesses in Turkey. We are ready to be your trusted legal advisors in this dynamic market.
Here are the main services that Pi Legal Consutlancy can provide:
- Banking regulatory compliance and related advisory
- Opening and management of bank account
- the establishment of e-payment service provider companies and their operations in line with regulations
- Preparation of loan agreements
- Cross-border financial disputes and dispute resolution or litigation
- Management of Merger and Acquisitions
- Debt restructuring, refinancing and default management
- Banking and finance litigation
- MASAK financial crime compliance
- Turkish law legal opinions for banks, investors and financial institutions
Our Relevant Articles
All our articles and papers on emerging legal challenges for this area together with their fully fledged solutions are available online https://www.pilc.law/blog/
- Banking and Finance Law in Turkey
- Digital Wallet Era in Turkey
- FinTech Guide
- Turkish Banking Green Asset Reporting Obligation
- Revision of the Regulation on the MASAK Compliance Program
Currently, we provide legal and business consultancy to leading French, British, Canadian, USA, Israel, Switzerland, Denmark, Norway, Kuwait companies and Kuwait Ministry of Health.
We have also created a great collaboration with the Embassy and Istanbul Consulate General of Saudi Arabia.
Our English speaking lawyers play a profound role in helping the organization and realization of investment projects of foreign entrepreneurs.