This case highlights the need for overseas investors to be on their guard when it comes to investing large sums of money for property in Turkey. This recent case involved a number of supposedly lucrative investments in Bodrum where the unfortunate individuals were sold the idea that they could invest in the popular Turkish resort for as little as £38,000 a property for a high return. Hayley Brown, the British fraudster was able to con her victims by convincing them to part with money which she … [Read more...]
Have You Filed Your Turkey Tax Return?
The deadline for filing income tax in Turkey is the 25th March, which means investors will have little time to prepare their income and expenses from renting out property in Turkey. The rules also apply to income made from letting out holiday homes according to advice from TAM Property Management. Non Turkish nationals are subject to a number of property related taxes depending on individual circumstances, just the same as in the UK and other countries and these will need to be taken into … [Read more...]
How Much Money Can You Bring Into Turkey?
The good news is that there are no limits on the amount of money you can bring into Turkey. Even if you want to bring a suitcase full into Turkey, this will be no problem - as long as you look after it of course!The only requirement if you arrive from a country outside of the EU with 10,000 euros in your suitcase is to sign a declaration form when you arrive at customs. All you need to do is complete the form at the HR Revenue & Customs.]]> … [Read more...]
The Ins and Outs Of Investing In Istanbul Property
Title: The Hidden Cost Of Managing A Property In Turkey Sub heading: According to the most recent global house price report from Knight Frank, Turkey has seen property prices rise by more than 12%. This, combined with strong rental yields and a loosening of restrictions on foreign ownership has seen Turkey’s popularity grow as a second home destination. However, according to Istanbul based property management company, tampm.org, investors are often being caught out by the hidden costs of … [Read more...]
How To Rent Out A Property In Turkey
You may have just invested because you wanted a holiday home or perhaps you did it just to make some money. Either way there are times as an overseas investor where you will need to generate some income from renting out your property.If you’re lucky, all this will be in place when you purchase the property but what happens if the burden of finding a tenant and managing the property falls on your shoulders?Often investors find themselves scratching their heads and spending large amounts of time … [Read more...]
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