Banking services are strictly subject to mandatory license requirements under Banking Law No. 5411.  These services are subject to the permission of the Banking Regulatory and Supervisory. In this Article, these procedures will be explained and discussed.


The applicant must first prepare its application for an establishment permit for submission to the BRSA. According to Article 4 of the Regulation on Operations of Banks Subject to Permission and Indirect Shareholding, the applicant must provide several documents and pay a system entrance fee equal to 10% of its paid-up capital in cash.

After obtaining an establishment permit, an operation license must be obtained from the BRSA in line with Article 7 of the Permission Regulation. The application for an operation permit must be submitted within nine months of the date of publication in the Official Gazette of the BRSA's decision regarding the establishment permit. An operation permit fee of TRY 423,536 must also be paid, both during the operation permit application process and for each year of banking activities. After the BRSA has conducted its evaluation in line with Article 7 of the Permission Regulation, it will grant operating permission within three months of the date of receipt of the application for permission. The permissions given become valid from the date of publication in the Official Gazette.

According to Article 10; The banks that are permitted to be established in Türkiye or permitted to open up branches in Türkiye within the framework of the provisions of Article 6 of The Banking Act No 5411 shall be obligated to receive permission for operation from the Board. The permissions granted shall be issued in the Official Gazette. The decision regarding the permission shall be made within three months, the latest, following the date of application for permission.

According to Article 6; the establishment of a bank in Türkiye or the opening up of the first branch in Türkiye by a bank established abroad shall be permitted upon affirmative votes of at least five members of the Board provided that the establishment conditions laid down in the Banking Act 5411 are fulfilled. 

If any missing document is not provided within six months, then the application shall become invalid. 

Establishment conditions are regulated under Article 7. Some of the requirements are; establishing as a joint company, shares should be issued against cash and to name.

A bank that was established abroad needs to ensure conditions under Article 9. Some of the conditions are; that the group including the bank must have a transparent partnership structure, and its primary activities must not have been prohibited in the country where they are headquartered.

According to Article 12; in cases where a bank has received the operating permission based on a non-factual declaration or has failed to commence the activity within six months after getting the operating permission or failed to perform the activity for an uninterrupted period of six months within one year following the start of activity, the operating permission of such bank shall be revoked.

According to Article 151, unlicensed activity is a crime under the regulatory framework and can result in monetary fines and imprisonment.

Also, according to Article 9; An application for operating permission cannot be granted for the activities prohibited due to the violation of the local legislation in the country where such institutions are headquartered.


Banks have a significant impact on the economy. This brings the necessity to regulate banks.

I strongly believe that the licensing and operations of banks should be under the control of the BRSA as it is. Being under BRSA control assures customers and consumers. Chaining provides convenience to take legal action if something goes wrong. Permit fees and other conditions show seriousness for banking. As a result, strict regulations and controls are required. It increases the confidence in the banking system.