Investing in Turkey as a foreigner: guides to stocks, funds, bonds and tax
This page is about listed stocks, funds, deposits and bonds in Turkey: how they work for foreign readers, what is taxed and which rules apply, from official sources. Buying property and citizenship by investment are not covered.
Short answer: Investing in Turkey as a foreigner usually means the Turkish stock market, funds, lira deposits or bonds. To buy Turkish stocks you need an account with a firm authorized by the Capital Markets Board (SPK), either a Turkish brokerage or bank, or an international broker that reaches Borsa Istanbul through a local custodian. These guides explain how that works and how funds, deposits, bonds and their taxes fit in; they are general information, not investment advice.
Fincode does not recommend any security, fund or broker, and these guides give no view on whether something is a good investment. Rates and tax rules change, so each guide dates its figures; Turkey economic data shows the latest inflation and policy rate in one place.
The page starts with stocks and the exchange, then funds, lira rates and tax.
- Stocks and the exchange
- Indices, settlement and custody
- Mutual funds
- Disclosures and market data
- Lira rates
- Country risk and capital rules
- Tax and regulators
- Calculators
Stocks and the exchange
Opening an account, trading hours and holidays, and how the market works.
- How to buy Turkish stocks as a foreign investorUpdated November 5, 2026 · 12 min readHow to buy Turkish stocks from abroad: Borsa Istanbul basics, SPK-authorized intermediaries, MKK custody, T+2 settlement, costs and taxes for non-residents.
- Borsa Istanbul stock exchange: market cap, owners, marketsNovember 6, 2026 · 13 min readBorsa Istanbul stock exchange explained: total market cap, company counts, the four markets, regulator and owners, from official files dated 4 November 2026.
- Borsa Istanbul trading hours and 2026 holidaysUpdated November 5, 2026 · 11 min readBorsa Istanbul trading hours in Istanbul, UTC, London and New York time, half days, the 2026 holiday list and how the 2027 calendar is set, as of November 2026.
- VIOP derivatives market: Borsa Istanbul futures and optionsNovember 6, 2026 · 13 min readVIOP is Borsa Istanbul's derivatives market. How BIST 30 futures, Takasbank margin, daily settlement, position limits, non-resident access, tax and data work.
- Turkey short selling ban: BIST 50 status, breakers, VBTSNovember 6, 2026 · 13 min readTurkey short selling ban on 6 November 2026: BIST 50 only, with an uptick rule. Every SPK decision since 2023, circuit breakers, VBTS and a tested daily check.
Indices, settlement and custody
Borsa Istanbul calculates the BIST indices, Takasbank clears and settles trades, the Central Registry Agency (MKK) records who holds the shares, and MSCI decides how Turkish shares are treated in its global indices.
- BIST 100 index in USD: official series and conversionNovember 6, 2026 · 13 min readBIST 100 index in USD: the official XU100_CFNPTLUS series, why dividing by USD/TRY gives another number, how the index is built and where the data sits.
- MSCI Turkey index freeze: what it means for investorsUpdated November 5, 2026 · 10 min readMSCI Turkey freeze explained: what MSCI stopped on 15 October 2026, why, the June 2027 checkpoint, frontier or standalone status and how trackers respond.
- Borsa Istanbul T+1 settlement: Takasbank, dates, testsNovember 6, 2026 · 13 min readBorsa Istanbul T+1 has no go-live date yet. Takasbank's T+2 and 16:45 rules, exchange letters 38907 and 50492, rehearsal dates and a software checklist.
- MKK Turkey: how the central securities depository worksNovember 6, 2026 · 12 min readMKK Turkey explained: investor-level records, registry numbers, omnibus links, MDYS for non-residents, dated tariff lines, company lookups and VAP data.
Mutual funds
How Turkish mutual funds are bought through TEFAS: order cut-offs, value dates, fees and withholding.
Disclosures and market data
How to read company disclosures on KAP and what market data you can get.
- KAP Turkey: using the Public Disclosure Platform in EnglishNovember 6, 2026 · 12 min readKAP Turkey guide: English material event disclosures since 1 October 2026, the four notice groups, search tools, entity lookups and how to read a disclosure.
- Borsa Istanbul Data Store: files, prices and usage limitsNovember 6, 2026 · 13 min readBorsa Istanbul Data Store: what each historical file contains, list prices, the 2020 index trap and what a purchase allows, as read on 6 November 2026.
- Borsa Istanbul TradingView data: feeds, delay and volumeNovember 6, 2026 · 11 min readBorsa Istanbul on TradingView: the three data lines, resident prices, what no volume data changes, Google and Yahoo delays and the XIST MIC code, November 2026.
Lira rates: deposits, bonds and inflation
The policy rate, inflation, what deposits pay after withholding tax and how government bonds and Eurobonds work.
- Turkey interest rate: CBRT policy rate and next decisionUpdated November 5, 2026 · 9 min readTurkey interest rate as of November 2026: the CBRT policy rate of 36%, overnight rates, 2026 decisions, history since 2010 and the MPC dates for 2026 and 2027.
- Turkish lira inflation rate: how Turkey's CPI worksUpdated November 5, 2026 · 9 min readTurkey's inflation rate was 29.77% in October 2026. How TÜİK compiles the CPI, annual vs 12-month average rates, inflation by year and why the lira floats.
- Turkish lira deposit rate and interest withholding taxUpdated November 5, 2026 · 11 min readHow Turkish lira time deposits work, where to find official average deposit rates, the 17.5%, 15% and 10% withholding tax, and whether those rates end in 2026.
- Turkish government bonds and eurobonds explainedUpdated November 5, 2026 · 12 min readTurkish government bonds explained: lira bond types, Treasury auctions, Borsa Istanbul trading, USD and EUR eurobonds, dated yields and tax for non-residents.
- Turkey 10 year bond yield: where the number comes fromNovember 6, 2026 · 13 min readTurkey 10 year bond yield: why one bond shows 33% and 35.7%, which bond sits behind the chart, the official data and tested Python, dated 4 and 5 November 2026.
Country risk and capital rules
Credit ratings, CDS, AML lists and capital controls.
- Turkey credit rating: Fitch, Moody's, S&P decisions by dateNovember 6, 2026 · 13 min readTurkey credit rating as of November 2026: Fitch BB- stable, Moody's Ba3 stable, S&P BB- stable, with decision dates, the scale, outlook and how to update it.
- Turkey CDS explained: what the 5-year quote meansNovember 6, 2026 · 12 min readTurkey CDS explained: what a 5-year quote in basis points costs, who decides a credit event, why no official body publishes it and how to read a dated figure.
- Turkey country risk: FATF, EU, UK and OECD lists checkedNovember 6, 2026 · 13 min readTurkey country risk: not on FATF's lists or the EU's AML list, OECD category 5. Each list's date and purpose, the 2026 FATF report and what compliance teams do.
- Capital controls Turkey: what Decree 32 allows and limitsNovember 6, 2026 · 13 min readCapital controls Turkey: what Law 4875 and Decree 32 leave free, what is limited, exporter rules, FX contracts and loans, all checked on 6 November 2026.
Tax and regulators
Dividend withholding, the legal position of crypto and what the Capital Markets Board regulates.
- Turkey dividend withholding tax: rate and tax treatiesUpdated November 5, 2026 · 9 min readTurkey dividend withholding tax explained: the 15% rate since December 2024, treaty rates and residence certificates for foreigners, exemptions and share gains.
- Is crypto legal in Turkey? CMB rules, exchanges, paymentsUpdated November 5, 2026 · 12 min readIs crypto legal in Turkey? As of November 2026: Law 6362, CMB communiqués, what the operating list means, foreign platforms, the payment ban and MASAK limits.
- Turkish Capital Markets Board (SPK): lists and sanctionsNovember 6, 2026 · 13 min readTurkish Capital Markets Board (SPK, CMB): Law 6362, its two websites, permit lookups, how to read bulletins, the official sanctions database, complaints.
Calculators
From Fincode
- Fiva: Markets from BIST to crypto in one appFincodeInvestment analytics app with fund return estimates, in-depth analysis and smart tools for BIST, NASDAQ, European exchanges, funds, gold, FX and crypto.
- Turkey economic dataFincodeLatest official values for Turkey's inflation, policy rate, unemployment, minimum wage and minimum pension, plus the upcoming data calendar. No forecasts.
Frequently asked questions
Can foreigners buy Turkish stocks?
Borsa Istanbul says foreign portfolio investors face no trading restrictions. You need an account with an SPK-authorized firm or an international broker that reaches the market through a local custodian. Shares trade in lira.
These guides are general information, not investment, legal or tax advice. Amounts, rates and rules in Turkey change often: check the date given for each figure and the official source before you rely on it, and ask a licensed adviser about your own situation.