Turkey...A country of a thousand faces...a history as long as civilization is old...a land as diverse as any continent...A world of infinite variety and beauty...
Country Facts Area: Approx 780,000 sq km (300,000 sq miles)
Population: 67.8m (according to 1999 census)
Capital city: Ankara
People: Majority Turks. Minorities recognised under the Turkish Constitution: Jews, Armenians and Greeks. Other ethnic peoples include Kurds, Circassians and Bosnians.
Language: Turkish (official), Kurdish
Religion: Muslim
Currency: New Turkish Lira (YTL)
The World Trade Organisation considers Turkey to be one of the most dynamic countries in Europe.With its wonderful climate, charming towns and villages, golden beaches, wealth of history and friendly, hospitable people, Turkey is becoming increasingly popular for foreigners buying homes in the Mediterranean.It's also a vibrant, thriving country which is proving to be an important new market for both British and international companies. Sony Ericsson has recently opened a new centre in Istanbul and many more businesses are recognising the potential of this emerging country and opening offices in Turkey.What's more, with the country expected to join the European Union in 2012, there are more people than ever looking to buy property in Turkey and therefore the potential return on investment is enormous.
Last year alone, property prices rose by around 50%. The extra demand is sure to push prices even higher in the next few years. Investors who buy now can enjoy the benefit of an investment that should soon increase in value.
Strategically situated - Turkey is close to Central Asia, the Middle East, North Africa and the European markets.
Double Taxation - Agreements between Turkey and 39 other countries to promote and protect mutual investments.
Liberal - A very liberal investment climate, including free (international) movement of capital, profits, dividends and salaries, free-trade zones and subsidies.
EU membership - With progressive alignment with the main policies and standards of EU, Turkey is expected to join the EU in 2012 which should push property prices even higher.
Tourism - In recent years, Turkey has become a major tourist destination in Europe. With the rapid development of both summer and winter resorts, more and more people from around the world cane to enjoy the history, culture, and beautiful sites the country has to offer.
Emerging Market - A rapidly growing emerging market of 67 million people.
Membership - A member of many multinational institutions (UN, NATO, OSCE).
Globally competitive and diligent workforceLow unemployment - Having a young population and high quality standards of education, the unemployment in Turkey is well below the current EU average of 11%.
Healthy Economy - Healthy economic growth is predicted in 2005, thanks to the economic reforms of the Turkish government.
Because of Turkey's geographical conditions, one can not speak about a general overall climate. In Istanbul and around the sea of Marmara (Marmara region) the climate is moderate (winter 4 deg.C and summer 27 deg.C); in winter the temperature can drop below zero. In Western Anatolia (Aegean region) there is a mild Mediterranean climate with average temperatures of 9 deg.C in winter and 29 deg.C in summer. On the southern coast of Anatolia (Mediterranean region) the same climate can be found. The climate of the Anatolian Plateau (Central Anatolian region) is a steppe climate (there is a great temperature difference between day and night). Rainfall is low and there is more snow. The average temperature is 23 deg.C in summer and -2 deg.C in winter. The climate in the Black Sea area (Black Sea region) is wet, warm and humid (summer 23 deg.C, winter 7 deg.C). In Eastern Anatolia and South-Eastern Anatolia there is a long hard winter, where year after year snow lies on the ground from November until the end of April (the average temperature in winter is -13 deg.C and in summer 17 deg.C).
As the UK property market looks set for a period of stagnation, the number of Britons seeking to invest in bricks and mortar overseas is rising.Turkey appears to be topping the list of popular destinations, with overseas mortgage broker Conti Financial Services reporting a 147% year-on-year rise in enquiries in 2007.Turkey has recently reformed its mortgage laws, making finance available to overseas buyers and figures from estate agent Knight Frank, show prices in the country rising between 15% and 20%, in 2007.Finance for Turkish homes can be secured with a lender in the country, through specialist brokers such as Conti.Buyers will need a 25% deposit, and sterling mortgages are only available over 15 years. If the loan is in euros, British investors living in the UK at the time of applying for finance may be able to borrow up to 100%, but only for property in certain parts of the country such as the capital Istanbul, or Alanya on the Turkish Riviera.
Taxation law in TurkeyEveryone according to his or her financial capacity is required to pay taxes to meet public expenditures. Taxes and other financial obligations are regulated by law (art 73) of the constitution.
Incomes of persons are subject to income tax. Foreigners whose residence is in Turkey or who live in Turkey for more than six consecutive months of the calendar year are also subject to income tax. However, businessmen, scholars, scientists, experts, officials, journalists, and other such persons who come to Turkey for a specific and temporary job are not considered to have settled in Turkey even if they stay longer than six months. Incomes which are subject to income tax are as follows; commercial incomes, agricultural incomes, incomes earned from self-employment, wages, incomes earned from real estate, and incomes derived from bank interest or bonds. Income earned from interest on bank deposits by persons who are not regarded as having settled in Turkey, however, is not subject to tax. The following point should he noted with regard to income tax: The Ministry of Finance annually sets a limit known as the minimum standard of living, and taxpayers may not declare an income that is below this limit. In other words, every taxpayer is assumed to have earned at least this minimum. An employer is responsible for preparing tax declarations concerning personnel who work on a monthly salary and for making tax deduction each month. Diplomatic missions, however, are not required to do this. Instead, Turkish employees of diplomatic missions who receive their salaries directly from their employers are required, according to article 95 of the Income Tax Law no. 193 of 31 December 1960, to make a declaration of income to the tax office and to pay their taxes themselves. 
