Moving to Turkey
Moving to Turkey
Many people will question is it feasiable for them to live in Turkey permanently. The answer is yes many other people have already taken this route in life and are living excellent an lifestyle here in Turkey and enjoying the retirement years here.
However like most major decisions in life potential expats should ask themselves many whole hearted questions whether living in Turkey is best for you.
A Guide to living permanently in Turkey
1: Non – working expats
Most non-working expats either relay on private and state pension. In addition some will sell there property in there home country to exchange money into the Turkish Lira and deposit into high interest savings accounts which they then will withdraw the monthly interest after paying Tax. This allows for people to lead a productive lifestyle without ever touching the net value. You have to take into account that the interest rates can also go down as well as up therefore keep this in mind for your monthly budget.
2: Cost of living in Turkey
This oh course depends on the type of lifestyle you intend to live. If you are not on any budget as an expat you can lead a luxury life to the full, travelling, eating out, wine and dine, enjoy many fun days and evenings out. Most of us will stick to a budget in the Medditerain coast of Turkey you can enjoy a good life on 5.000 Turkish lira a month with careful budgeting and not owing a car. Taking into account for other expenses such as medical bills, health insurance, residency these will all be extras.
3: Money mistakes
You have to take control of Money management and remember as mentioned earlier interest rates can go down. Likewise the the Turkish Exchange rate is high, giving expats more for their Money then ever before, although the Turkish government is working hard to lower it. Therefore if you are receiving and income in foreign currency allow for fluctuations in currency exchange rates. Before moving here make a financial budget for each month and stick to it. Do not compare prices to the UK because you will get a better bargain when thinking of the Turkish Lira.
4: Residency permit and Health insurance
A residency permit is a must to live here permanenty, applicants need to prove two things. Firstly is you can financially support yourself. The second is adequate health insurance if you are under 65. Most foreigners will choose to use the government run SGK insurance system which operates for couples and singles. Residency permit for expats on first application will receive a one year permit, which then can be moved to two and three years on subsequent applications.
5: Benefits of living in Turkey
So Fethiye gloats of the most staggering landscaped scenes, a simplicity of living, minimal cost of living, resonable property costs and it is easy to settle in, however indeed, the typical Mediterranean lifestyle charms by far most back to the region. A respected reputation on both the travel and expat scenes could be credited towards various parts, be that as it may, yet the relaxed and outdoor life genuinely sums up what Turkey is all about.
Non-working expats quickly embrace Turkish culture and stop clock watching, they live in the moment. Regardless of whether or not they relax by the pool or beachside or get themselves involded into good cause and get togethers social events, rushing about, hustle and bustle is non-existent.
Expats like alfresco dining, late mornings, and a healthy eating routine that makes them feel ten years more youthful, consequently they’ve been there for a long time and will undoubtedly continue for many more years to come. For them, their Turkish property is something other than just a house or real estate investment, it is presently a place they call home.