Fees & Tax Information for Foreign Investors

You will need to allow for the following fees:

Solicitors’ fees – approximately £250

Aegean Army Clearance - £150

Translators fees - £80

Notary fees - £70
Power of attorney – approximately £120
Electricity connection - £125
Water connection - £190
Buyers tax – 1.5% of the purchase price
There will also be an annual maintenance fee on most developments. Normally this is between £350 and £450

From signing the contract you will normally be expected to pay the first payment of 25% within 30 days. Thereafter, on a new property, the balance will be in several instalments over the build period. The final payment falls due when the keys are handed to the buyer.TaxationYou will be expected to pay 20% tax on rental income in Turkey. If you hold the property for more than four years there will be no capital gains tax payable in Turkey. Should you decide to sell before four years you will pay 20% capital gains tax locally.