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    Turkey Facts & Figures

    Turkey facts and figures provide information on population, inflation rate, seasons, taxes, economics, government, residency and more...

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        A boy makes pomegranate juice at a Turkish market. turkey facts

        Turkey Facts & Figures

        Turkey is a major medical tourism destination, especially for people from the U.K. and other West European countries, speaking to the high quality of private medical care on offer.

        Unlike across most of Europe, Turkey’s population is young and growing. The country is investor-friendly, making it easy for foreigners to take a position, especially in real estate… though some property ownership restrictions can apply in very low-density areas and when purchasing large tracts of land.

        It’s easy to establish residency in Turkey, including through a property investment, which can even qualify you for citizenship.

        Kathleen

        Reviewed By Kathleen Peddicord

        Kathleen 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.

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          Table Of Contents

           
          Information Type Turkey Facts/Data
          Population 87,473,805 (2024 est.)
          Gross Domestic Product PPP (GDP) US$1.114 trillion (2024 est.)
          GDP Per Capita US$43,921 (2024 est.)
          Inflation Rate 61.8% (2024 est.)
          Currency Turkish Lira (TRY)
          Exchange Rate Versus U.S. Dollar 34.16 liras per U.S. Dollar (2024 est.)
          Language Turkish (official), Kurdish, other minority languages
          Capital Ankara
          Population of Capital City 5.4 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

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            Kathleen

            Reviewed By Kathleen Peddicord

            Kathleen 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.

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              Table Of Contents

              Turkey Facts & Figures- FAQs

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              Portugal is on the Iberian Peninsula, in the southwest corner of Europe. Portugal shares that peninsula Spain, its larger neighbor.

              Portugal is known for Fado music and also for being the largest cork producer in the world.

              Portugal’s high season is during July and August, especially to coastal areas. Expect to pay at least a 30% premium on accommodation and encounter warm weather across the country.

              Yes, Portugal is a sought after retirement destination. In fact, it’s one the world’s top retirement havens.

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