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Turkey Facts & Figures

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Turkey Facts & Figures

Information Type Turkey Data

Population 

84,339,067 (2020 est.)

Gross Domestic Product (GDP)

US$650 brillion (2020 est.)

GDP Per Capita

US$14,900 (2020 est.)

Inflation Rate

15.18% (2020est.)

Currency

Turkish Lira (TRY)

Exchange Rate Versus U.S. Dollar 

6.86 liras per U.S. Dollar (2020 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

18%

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

http://www.ito.org.tr/INTRODUCTION/ENGLISH.pdf 

Reşadiye street. 34112 Eminönü

Phone: 0212.455 60 00 central

American Chamber of Commerce

http://www.abft.net

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

www.turkishairlines.com/

More Resources From Turkey

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​Learn more about ​​​​​TURKEY​ ​​​and other countries in our free, daily Overseas Opportunity Letter​​​​​​​​​. Simply enter your email address below and we’ll send you our FREE REPORT – ​​The 10 Best Places To Retire In 2020