One of the documents that embassies request from applicants to issue a visa is a letter of financial means. Due to recent changes in most embassies operating in Iran, unfortunately, many embassies do not accept letters of financial means issued by Iranian banks. In this article, we have prepared a complete and workable solution for receiving a valid letter of financial means.

Where can I get financial means to issue a visa?

Since most embassies operating in Iran, such as the embassies of Sweden, Finland, Austria and other countries, do not accept letters of financial means issued by Iranian banks, banks from another country must be used. Until a few months ago, there were two main options for opening a bank account for Iranians: the UAE and Turkey. However, due to recent restrictions in the UAE, opening an account in this country has become very difficult. On the other hand, the laws of Turkey have not changed yet and it is still possible to open an account in some banks in this country without requiring a residence card. Embassies operating in Iran also have no problem with the financial means provided by Turkish banks, of course, the financial means provided must meet certain conditions, all of which we will discuss below.

Which Turkish banks issue financial means?

All Turkish banks provide their customers with a special financial means letter for the embassy. But the important point is that Turkish banks, unlike Iranian banks, do not issue a letter titled “financial means”. In other words, the bank does not give you a letter certifying that you have a certain amount of money in your account and that this amount is equivalent to a number of dollars or euros. Rather, the bank delivers a letter on its letterhead containing account information, current balance, and your personal information, with the bank’s seal and signature. This letter is exactly equivalent to the financial means letter in Iranian banks and is approved by embassies of all countries for any type of visa.

In what currency should the financial means be?

One of the advantages of Turkish banks is that they offer multi-currency accounts to their customers. The number of foreign currencies depends on your bank. For example, Ziraat Bank offers its customers 5 currencies including US dollars, euros, pounds, Japanese yen and Saudi riyals (of course, it is not currently possible to open a US dollar account for Iranian citizens). However, Vakif Bank supports about 13 different currencies such as US dollars, Canadian dollars, Australian dollars, euros, pounds, Japanese yen, Swedish krona, etc., all of which can be opened even for Iranian citizens.

You can ask the embassy in question which currency the financial instrument should be in and easily convert your balance to the desired currency through the bank application and then apply for a financial instrument from the branch. The exchange rate in Turkish banks is close to the world rate and the conversion fee is also very small.

How long does it take to issue a financial instrument?

Once you have opened your bank account and deposited money into it, you can request a bank statement or financial capacity letter from the bank. An important point for embassies is that most embassies request a 6-month financial capacity letter. This does not mean that 6 months must have passed since the account was opened or the money was deposited, but rather, when requesting a financial capacity letter, you simply ask the bank employee to write the date of the past 6 months to today on the form. In this way, the financial capacity letter issued is considered 6 months old.

Documents required to obtain financial capacity

Opening a bank account in some branches of Ziraat and Vakif Banks is done without the need for Turkish identity documents, such as Kimlik. To obtain a financial capacity letter at the bank branch, in addition to your bank card, you must bring your passport with which you opened the account.

How to obtain a financial capacity letter from Turkish banks in English?

Turkish banks can issue a letter of financial support in both English and Turkish. If you plan to submit the letter of support to the embassy, ​​it is best to inform the bank employee when applying that the letter of account circulation is in English.

If you also plan to have a foreign currency and international bank account in Turkey with your passport, you can contact our experts to send you the conditions and fees.

Nihad Group Services for Opening an Account and Receiving Financial Support in Turkey

Nihad Holding’s professional team, with years of experience in international finance and foreign exchange, is with you on the path to opening a bank account in Turkey and receiving a valid financial support letter:

Providing expert advice on choosing the right bank to open an account
Guidelines for completing the account opening documents and forms
Assisting in the process of opening a bank account without the need to reside in Turkey
Advice on different currencies and choosing the best option for financial support
Guidelines for requesting a bank account and financial support letter
Providing advice on the requirements of various embassies

Why Nihad Group?

Nihad Group, relying on up-to-date knowledge of Turkish banking laws and direct contact with reputable bank branches, creates a safe, transparent and completely professional process for opening an account and receiving your financial support. From the initial consultation to receiving the financial support letter, we manage everything with care and commitment so that you can prepare the documents required by the embassy with peace of mind.