Europe’s Last Frontier
In the Great Age of Discovery, ships went forth from Europe to the far reaches of the earth, bringing back...
Read moreKathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
Information Type | Turkey Facts/Data |
---|---|
Population | 85,816,199 (2023 est.) |
Gross Domestic Product PPP (GDP) | US$3.613 trillion (2023 est.) |
GDP Per Capita | US$41,887 (2023 est.) |
Inflation Rate | 62% (2023 est.) |
Currency | Turkish Lira (TRY) |
Exchange Rate Versus U.S. Dollar | 29.16 liras per U.S. Dollar (2023 est.) |
Language | Turkish (official), Kurdish, other minority languages |
Capital | Ankara |
Population of Capital City | 5.2 million (metropolitan area |
Time Zone | UTC + 2 (seven hours ahead of Washington DC, during Standard Time) |
Seasons | Temperate. Hot, dry summers with mild, wet winters. Harsher in interior. |
International Dialing Code | 90 |
Electricity | 230 V. 50 Hz, Plug C, F |
System of Government | Republican Parliamentary Democracy |
Current Leader | President Recep Tayyip Erdoğan (since Aug. 28, 2014) |
Income Tax Rate for Residents | 15% to 35% |
Property Tax | 0.1% to 0.6% |
Capital Gains Tax | 15% to 35% |
Inheritance Tax | 1% to 10% |
Rental Income Tax | 5% to 25% |
Transfer Tax | 2% to 4% |
Sales Tax | 20% (as of July 2023) |
Restrictions on Foreign Ownership of Property | None. Now it’s possible to obtain legal residency through the purchase of real estate in a much more straightforward way. |
Local Chamber of Commerce | Reşadiye street. 34112 Eminönü Phone: 0212.455 60 00 central |
American Chamber of Commerce | Tel. 90-212-243-35-11 |
Primary Exports | Apparel, foodstuffs, textiles, metal manufactures, transport equipment. |
Residency and Visa Requirements | Now it’s possible to obtain legal residency through the purchase of real estate in a much more straightforward way.If you wish to reside in Turkey longer than the normal period, you will need a residence visa.Residence visa is not obtained from this Turkish Consulate General. It should be applied to the nearest police headquarter in Turkey, before your tourist visa expires. The new law on Foreigners and International Protection which governs residency permits came into force on 11th April 2014.If you are out of Turkey for more than 120 days in the previous 12 month period your residence permit will be cancelled on re-entry to Turkey and you must obtain either an e-Visa, or visa on arrival, to cover your stay until you wish to reapply for a residence permit. |
Special Benefits for Foreign Residents or Retirees | Still, Turkey is best suited as a part-time retirement option. If you live here more than six months of the year, you become liable to the Turkish authorities for tax on your worldwide income. |
National Airline | Turkish Airlines |
In the Great Age of Discovery, ships went forth from Europe to the far reaches of the earth, bringing back...
Read moreIn the Great Age of Discovery, ships went forth from Europe to the far reaches of the earth, bringing back...
Read moreIn the Great Age of Discovery, ships went forth from Europe to the far reaches of...
Read moreHealth is a key consideration when shopping the world map for the ideal place to reinvent your life overseas. Indeed, one of the greatest benefits of retiring overseas can be a healthier lifestyle. For certain, your health costs will be reduced. The United States is the most expensive place on Earth both to seek medical care and to insure against the expense. Where specifically should you consider if access to health care is a number-one concern? The following countries stand...
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