Trading prerequisite - Turkey
Final beneficial owners that want to settle Turkish securities (debt securities or equities) in Clearstream Banking must first have a Turkish Tax ID or a Turkish national ID number (Turkish resident individuals) issued in their name and registered in Clearstream Banking as follows:
- Those who do not have a Turkish Tax ID must requestone before executing any trades.
- Those who are Turkish resident individuals must register their existing Turkish national ID number.
- Those who have obtained a Turkish Tax ID from somewhere other than the Clearstream Banking depository and/or who want to transfer it from one Clearstream account to another must register the existing Turkish Tax ID.
The actual time taken to process the request for a Turkish Tax ID can vary depending on when the application is filed, the length and the language of the documents to be translated.
Requesting a new Turkish Tax ID
Those who do not have a Turkish Tax ID must request one before executing any trades for Turkish securities.
Documentation requirements
To obtain a Tax ID for customers proprietary account and/or for any underlying final beneficial owners, customers must submit the following documentation:
And in addition for foreign individuals:
- Passport copy;
- Certificate of Residence; or
- Certificate of Tax Residence (only required if the beneficial owner is claiming DTT relief for equities);
And in addition for foreign non-individuals:
- Certificate of Incorporation or the Articles of Incorporation or the Prospectus;
- Certificate of Tax Residence (only required if the beneficial owner is claiming DTT relief for equities);
And in addition for Turkish individuals:
- A copy of an identity card (Turkish resident identity card, driving licence or passport) containing the Turkish resident identity card number (TCKN).
Note: Turkish individuals are already assigned with a Turkish National ID number by the Turkish Civil registry.
And in addition for Turkish non-individuals:
- Confirmation of the Turkish tax ID number of the institution.
Note: If the beneficial owner's name or status changes, the customer is requested to provide Clearstream Banking's Tax Department with an official document certifying the change.
Deadlines
The deadlines for the submission of the documentation for requesting a new Turkish Tax ID/ Turkish national ID number are as follows:
Document | Deadline for receipt by Clearstream Banking |
At the latest 15 business days before receipt of the securities in the customer account with Clearstream Banking. | |
At the latest 15 business days before receipt of the securities in the customer account with Clearstream Banking. | |
At the latest 15 business days before receipt of the securities in the customer account with Clearstream Banking.. | |
Certificate of Incorporation or the Articles of Incorporation or the Prospectus | At the latest 15 business days before receipt of the securities in the customer account with Clearstream Banking. |
A copy of an identity card | At the latest 15 business days before receipt of the securities in the customer account with Clearstream Banking. |
At the latest 15 business days before receipt of the securities in the customer account with Clearstream Banking. | |
Certificate of Tax Residence (only required if the beneficial owner is claiming DTT relief for equities) | At the latest 21 business days before the first dividend payment. Before 10 March in case of renewal |
Registering an existing Turkish Tax ID or Turkish national ID number
Customers may already have obtained a Turkish Tax ID for their proprietary account or for their underlying beneficial owners as follows:
- By applying through a custodian other than Clearstream Banking's depository; or
- By transferring it from another Clearstream Banking account.
Note: If the underlying beneficial owner is a Turkish resident individual, they must have a Turkish national ID number and this should be registered in the same way as a Tax ID.
Documentation requirements
To register an existing Turkish Tax ID or Turkish national ID number for customers proprietary account and/or for any underlying final beneficial owners, customers must submit the following documentation:
- One-Time Certificate for Turkish Securities;
- Request for Registration of an existing Turkish Tax ID or Turkish national ID number;
And in addition for foreign individuals:
- Passport copy;
- Certificate of Residence; or
- Certificate of Tax Residence (only required if the beneficial owner is claiming DTT relief on equities);
And in addition for foreign non-individuals:
- Certificate of Tax Residence (only required if the beneficial owner is claiming DTT relief on equities);
And in addition for Turkish non-individuals,
- Confirmation of the Turkish tax ID number of the institution.
And in addition for Turkish individuals with a Turkish national ID number:
- A copy of an identity card (T.R. identity card, driving licence or passport) containing the Turkish national identity number.
Note: If the beneficial owner's name or status changes, the customer is requested to provide Clearstream Banking's Tax Department with an official document certifying the change
Deadlines
The deadlines for the submission of the documentation for requesting an existing Turkish Tax ID/ Turkish national ID number are as follows:
Document | Deadline for receipt by Clearstream Banking |
At the latest 15 business days before receipt of the securities in the customer account with Clearstream Banking. | |
Request for Registration of an existing Turkish Tax ID or Turkish national ID number | At the latest 15 business days before receipt of the securities in the customer account with Clearstream Banking. |
At the latest 15 business days before receipt of the securities in the customer account with Clearstream Banking. | |
Certificate of Incorporation or the Articles of Incorporation or the Prospectus | At the latest 15 business days before receipt of the securities in the customer account with Clearstream Banking. |
A copy of an identity card | At the latest 15 business days before receipt of the securities in the customer account with Clearstream Banking. |
A Confirmation of the Turkish tax ID number of the institution | At the latest 15 business days before receipt of the securities in the customer account with Clearstream Banking. |
At the latest 15 business days before receipt of the securities in the customer account with Clearstream Banking. | |
Certificate of Tax Residence (only required if the beneficial owner is claiming DTT relief for equities) | At the latest 21 business days before the first dividend payment. Before 10 March in case of renewal. |