Info on banking please.

[mary62]

Hi All.
I know this has probably been asked a few times before, but I can't seem to find the answer.So here goes...
1) How much money can be deposited securely (guaranteed) in an interest account? Is it 50,000 TL?
2) Do you have to have  residency to keep your money in the account (even if you do not reside in Turkey? )
I am asking this for a friend who is selling his property there, but wants to get the maximum interest return on his money.
Thank You in anticipation.

[Liz 101]

Mary, in answer to your questions:

1) Yes it's 50k tl per person per bank

2) No you don't need residency, but you do need a Turkish tax no & to get that you need to have an address in Turkey. You will also need proof of ID & recent utility bill for the address

[grahamturner09]

If they have property then they will have a tax No if they have bank accounts there is no need to have an address in Turkey to keep bank accounts open

[mary62]

Thanks for the info Liz and Graham. I will pass this info on to my mate. What he wants to do is sell his property and leave the cash in a TL account gaining the 9-10% to accrue and return to live in the U.K.