Fintech Law
Establishing a payment institution, e-money issuer or crypto-asset service provider — or entering the Turkish market from abroad — is subject to a strict regulatory framework; a gap in the licensing file can delay an application by months. Legalwise manages the process for fintech companies from the licensing application through to post-launch regulatory compliance.
Message on WhatsAppFor Clients Living Outside Turkey
Foreign payment institutions, e-money issuers and fintech investors entering or already operating in the Turkish market can obtain licensing and regulatory-compliance advisory remotely, with in-person involvement generally limited to specific regulatory filing steps where required.
How to get started from abroadServices We Provide
- Payment institution and e-money issuer licensing applications
- Regulatory compliance advisory for crypto-asset service providers
- Open banking and API-sharing agreements
- User agreements and data protection compliance
How the Process Works
- 1
Business model and licensing needs analysis
We determine which licensing regime (payment institution, e-money issuer, crypto-asset service provider) the planned activity falls under, and recommend the most suitable corporate structure.
- 2
Preparation of the licensing file
We prepare the licensing file to be submitted to the relevant regulator, along with internal policies, procedures and the required contract templates.
- 3
User and integration agreements
We draft user agreements, open banking/API integration protocols and business partnership agreements with data protection compliance in mind.
- 4
Post-launch compliance monitoring
After licensing, we track regulatory changes and ensure that notification and reporting obligations to the regulator are met on time.
When Should You Seek Legal Help?
- When planning to establish a payment institution, e-money issuer or crypto-asset service provider, before applying
- When a fintech company licensed abroad is considering entering the Turkish market
- Before establishing an open banking/API integration with a bank or financial institution
- When preparing shareholder and equity agreements ahead of an investment round
- When you receive a regulatory review, information request or administrative notice from the regulator
Common Disputes
- Challenging the rejection of a licence application or deficiency notices
- Payment transaction disputes arising from user agreements
- Objections to administrative fines and regulatory sanctions
- Disputes arising from investment and shareholder agreements
Our Approach
The most critical risk for fintech companies is a licensing-stage error that only surfaces months later. Legalwise pre-screens the application file from the regulator's perspective, guiding your business model to the correct licensing regime without unnecessary delay.
Frequently Asked Questions
What is the difference between a payment institution and an e-money issuer licence?
A payment institution only provides payment services, whereas an e-money issuer may also issue electronic money on behalf of users; the required licence depends on the scope of the planned activity.
What regulations apply to crypto-asset service providers?
Crypto-asset service providers are subject to authorisation and supervision under special provisions added to the capital markets legislation; a compliance assessment under the current framework should be carried out before starting operations.
Can a foreign fintech company operate directly in Turkey?
As a rule, providing regulated payment or e-money services in Turkey requires a company established in Turkey and licensed by the relevant regulator; the structure and market-entry strategy should be planned around the specific activity.
Which agreements are required for an open banking integration?
At minimum, an API-sharing agreement with the bank or third-party provider, policy documents governing the user consent flow, and data-protection-compliant data processing agreements are required.
Can we get support with investment-round agreements for our fintech startup?
Yes; the drafting and negotiation of shareholder, equity option and investment agreements is carried out together with an assessment of the applicable regulatory licensing obligations.
Related Practice Areas
Need legal support in this area?
Schedule a preliminary consultation with our expert team; let's assess your case together.