Q. Can I buy a property in Turkey Freehold?
A. Yes. Q. Can I buy more than one property?
A. Yes. Property deeds can also have more than one name on them.
Q. If I buy a property in Turkey, will this give me citizenship, or any citizenship rights?
A. No. A residency visa is still to be applied for.
Q. What is the weather like in Holiday resorts in Turkey?
A. April average 25°C, May 30°C, June to September average 35°C, October 30°C.
Q. What are the flight arrangements to Turkey?
A. At the moment direct charter flights are available from May through to October. This is being extended gradually as demand becomes greater. Out of season you can fly schedule to Turkey.
Q. Which airport do I fly into?
A. Bodrum and Izmir Airports.
Q. How do I get from the Airport?
A. Ravers Property provides a transport service to and from the airport at reasonable rates.
Q. What local transport is available?
A. All areas are serviced by a minibus service called Dolmus. You will never be more than five minutes away from a bus stop and the average fare is about 35 pence. Taxis are readily available as is car hire, at very reasonable rates.
Q. How are we covered for Medical Care in Turkey?
A. Turkey has an excellent standard of health care. You need to have full medical insurance though.
Q. What is the local currency?
A. The local currency is Turkish Lira. However the Euro, Pound and Dollar are widely accepted through retail outlets. All major credit cards are also accepted throughout Turkey.
Q. Is buying a property in Turkey an Investment Opportunity?
A. Potentially buying a property in Turkey is a fantastic investment opportunity because prices are still relatively low. In the next 5-10 years, before joining the EU it is anticipated that price will rise.
Q. Can I transfer money to Turkey?
A. All money can be transferred via your local bank Foreign Exchange Department.
Q. Can I open a bank account in Turkey?
A. You only need a Passport to open a bank account and obtain a bank account.
Q. How is the cost of living in Turkey compared to the UK?
A. Approximately 50% of the UK rates.
Q. Can I take my cat/dog with me?
A. Yes. You must obtain a “pet passport” and vets documents.
Q. Duty Free?
A. You can purchase duty free in Turkey at about 30% less than the UK.
Q. Can I set up a business in Turkey?
A. Yes. The Turkish Government has recently changed the law to allow any non-nationals to start a business.
Q. What are the tax implications if I sell my property?
A. You will pay tax at 3% of the estimated value of the property. The local government sets the value.
Q. Can I rent out my property?
A. Yes. Rental income is liable for tax assessment in the UK, Ireland and Turkey and will be payable depending on your personal circumstances.
Q. What Legal Fees are payable on the purchase of a property?
A. There is charges for Title Deeds, Registrations, Stamps and Translations. These are very reasonable.
Q. Should I take out insurance on my new property in Altinkum?
A. Yes. It is advisable to insure your property in Turkey just as you would in the UK. You can take out buildings insurance or include the contents if preferred.
Q. What is the Tax Situation?
A. Capital Gains made from the sale of a property will be taxable in Turkey if the owner is a registered company. Individuals do not have to pay capital gains.
|
