What the Notice changed
By Notice III-42.1.b, published in the Official Gazette of 3 September 2026, issue 33359, the Capital Markets Board widened the remote identification regime in two directions.
The first concerns persons: non-Turkish nationals may now be onboarded through remote identification using a passport. The second concerns legal persons registered in the trade registry; remote identification of companies and verification of authority to represent them are now governed by a dedicated article.
The Notice entered into force on the date of publication, 3 September 2026. It is addressed to brokerage houses, portfolio management companies and crypto asset service providers.
Given the number of foreign investors and foreign-owned companies in Antalya, the amendment carries particular regional significance.
New definitions: person, beneficial owner, legal person
The definition of person in article 4 was rewritten. It now covers the natural person to be identified remotely, a natural person trader, or the natural person or persons authorised to represent a legal person.
Four new definitions were added. Beneficial owner refers to the beneficial owner as defined in the Regulation on Measures for the Prevention of Laundering Proceeds of Crime and Financing of Terrorism.
Legal person is defined narrowly: commercial companies governed by the Turkish Commercial Code no. 6102 and registered in the trade registry. Associations, foundations and cooperatives fall outside it.
MERSIS and the Trade Registry Gazette were also added as definitions; they are the sources used to verify authority to represent.
Foreign nationals: the NFC passport requirement
The newly added article 8/A governs remote identification of persons who are not Turkish nationals.
The document to be used is a passport with near-field communication (NFC) capability conforming to standard 9303 of the International Civil Aviation Organization (ICAO). Verification is performed by confirming that the identity data on the passport chip matches the data printed on the passport.
The article is categorical on one point: if that verification cannot be carried out using near-field communication for any reason, a business relationship cannot be established through remote identification. An account cannot be opened remotely with a passport that has no readable chip.
Verification through the Identity Sharing System is not required for this document; conversely, the passport's conformity with ICAO standard 9303 is separately checked.
Address verification: three months, and a transfer ban
Subparagraph (c) of article 8/A imposes a concrete obligation as to address.
The person's address must be obtained and verified within three months at the latest. Verification may be based on a residence certificate, a utility bill for electricity, water or natural gas issued in the person's name within the three months preceding the transaction, a document issued by a public authority, or the publicly available databases of the relevant country on a risk-based approach.
The closing sentence contains an outright prohibition: no transfer of funds or crypto assets, and no transfer of capital market instruments, may be made before the address is verified.
In practice this separates opening the account from being able to use it. Until address verification is complete the account cannot transact.
Video interview, technical data and artificial intelligence
Remote identification by passport is carried out by staff specifically trained for the purpose, through a video interview. Images showing the person and the data on the passport presented are recorded.
That requirement does not prevent the use of artificial intelligence based applications satisfying the conditions in article 14/A(1) for liveness testing or photograph comparison. Human staff and AI tools may therefore be used together.
Technical data obtained from the electronic environment in which the customer transacts — IP and port data, device identifier, geolocation, browser information — are assessed together with the passport data on a risk-based approach.
If that assessment reveals a suspicious situation, the remote identification process is terminated.
Restricted flows on passport-opened accounts
Paragraph four imposes a restriction specific to accounts opened by remote identification using a passport, and it is the provision that raises the most questions.
Funds may be transferred into the account only from an account held in the person's own name at a bank abroad. Withdrawals may likewise be made only to that same person's own bank account.
Transfers are effected solely through the SWIFT system. The distinguishing information in the SWIFT messages is checked against the information obtained from the customer during remote identification.
Those transfer and control steps are completed before any other transaction is carried out on the customer's account.
Under paragraph three these customers are also monitored in the high-risk group, and measures are taken where transactions inconsistent with the customer profile or the purpose of the relationship are identified.
Remote onboarding of companies: article 9/A
The newly added article 9/A governs remote identification of legal persons registered in the trade registry and verification of authority to represent them.
The basic rule is that article 4/B of MASAK General Notice (series no. 19) applies. On top of that, the Notice adds a detailed procedure for verifying representative authority.
The representative is first identified under this Notice, and their authority to represent the legal person is then verified. Where more than one person is jointly authorised, their identification may take place in the same session or at different times.
Authority is verified by matching the information obtained from the person against current data from MERSIS and/or the Trade Registry Gazette. The information is also checked against current data in the Revenue Administration's database.
Signature circular and beneficial owner checks
Where the institution considers it necessary, staff take a copy of the signature circular presented by the person, by producing photographs or screenshots showing the data on it.
Staff compare the specimen signature taken from the circular with the specimen on the person's identity document and/or in MERSIS. They also confirm whether the circular is notarised, and verify it using the date and journal number appearing on it.
Paragraph six provides a ground for terminating the process: measures must be taken to establish the legal person's beneficial owner. If the beneficial owner cannot be established, if the information presented is inconsistent, or if a suspicious situation is identified, the remote identification process is terminated.
Paragraph seven offers a convenience: where the representative already holds an account with the same institution, the request to establish a relationship for the company may be made through the internet branch or mobile application.
Reporting to MASAK and compliance duties
The Notice imposes a periodic reporting duty. Information on customers accepted through remote identification, together with their portfolio sizes and investment amounts, is reported to the Financial Crimes Investigation Board in the final month of each three-month period on a calendar-year basis.
Where identification is by passport, those provisions of article 4/C of MASAK General Notice (series no. 19) that are not inconsistent with this article also apply.
For general information on company formation with foreign shareholders, authority to represent and trade registry procedures, see our commercial law page; on the status of foreign nationals in Türkiye, see our foreigners' law page.
Practical consequences for investors in Antalya
For a foreign investor the first check is the passport chip. An account cannot be opened remotely with a passport that has no NFC chip or whose chip cannot be read; a physical application is then required.
The second check is the address document. Where an address abroad is to be given, a document capable of verification within three months should be prepared in advance; otherwise no transfer can be made even after the account is opened.
The third check is the route of incoming funds. The first transfer must come from the person's own account at a bank abroad, via SWIFT. A transfer from a third party's account will not be accepted.
For companies the checklist is short: an up-to-date MERSIS record, the Trade Registry Gazette announcement and a notarised signature circular. Where representation is joint, all authorised persons must be identified.
For the general route followed in commercial disputes involving companies in Kepez and central Antalya, see our Kepez lawyer page.
Resources
- Notice on Remote Identification Methods and the Formation of Contracts by Electronic Means (III-42.1), arts. 8/A and 9/A (added by Notice III-42.1.b) — Official Gazette of 3 September 2026, issue 33359
- Notice III-42.1 — Official Gazette of 8 February 2022, issue 31744
- Regulation on Measures for the Prevention of Laundering Proceeds of Crime and Financing of Terrorism, arts. 7 and 26/A
- MASAK General Notice (Series no. 19), arts. 4/B and 4/C
You can access the current versions of legal texts via mevzuat.gov.tr.