General Information on Turkey
Turkey is becoming a popular holiday destination with its immense unspoilt coastline and Mediterranean climate, which offers all-year-round sunshine. Not only this, but buying property in Turkey is seen as a good future investment considering the fact that Turkey is on the verge of becoming a member of the EU and has one of the fastest growing emerging markets in the world.
We must emphasise that you should only purchase when advised by a lawyer local to the area of your property purchase.
Property purchase is similar to most European countries, however the entry in the property register in Turkey is not performed by a public notary, but by an official of the Property Registry Department. It is legally compulsory for both sides ( the seller and the buyer ) to be present at the entry.
It is possible to authorise another person to do so but the authorisation requires a proxy deed. As a security measure, it is also advisable to authorise the sale through an official notary. We emphasise that a foreigner buying property in Turkey should take independent legal advice.
Language
The language being spoken in Turkey now is accepted to be the standard Turkish and it is the descendant of Ottoman Turkish and its predecessor, so-called Old Anatolian Turkish.
Economy
Turkey produces a large amount of hard-shell nuts, fig, apricot, also fresh vegetables, grape, wheat and tobacco and cotton. Turkish delight and helva are famous throughout the world. Turkey is among the leading countries worldwide in textiles and read
y-to-wear clothing production. Tourism and construction is fast becoming a major industry, particular in coastal areas.
Currency
Turkey 's currency is the Turkish Lira. There is no limit on the amount of foreign currency that may be brought into Turkey, but not more than $5,000 worth of Turkish currency may be brought into or taken out of the country.
Many shops and restaurants in the coastal resorts and big cities accept payment in foreign currency but it is advisable to take have some Turkish Lira. |
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