Using Money in Turkey

Start Now
Using Money in Turkey 1


Whether we like it or not money makes the world go round. One of the first thoughts that comes to mind when visiting Turkey is details regarding using money in Turkey.

If you are not very well informed you are likely to miss out on good deals or perhaps get very bad deals which will ruin your experience in Turkey. In this section on using your money in Turkey everything from Turkish currency, exchange rates, taxes to sending money in Turkey so you have the best intellectual gamesmanship when it comes to money in Turkey.

Please be aware that we fully support our clients regarding issues around money in Turkey when they purchase property through Kingsman Estates.

General Taxes in Turkey

WHAT YOU’LL LEARN

If you are looking to live in Turkey, you will be subject pay taxes in Turkey. Taxes in Turkey are important but also similar to European Union. So please make sure you understand details regarding taxes in Turkey to avoid having problems or having legal action taken against you which will jeopardize your immigration process in Turkey.

Investing in Turkey

WHAT YOU’LL LEARN

Over the last ten years Turkish economy has been under the spotlight of investors around the world. From property purchases to businesses started by foreigners the statistics speak for itself. This section has all the information you need regarding investing in Turkey.

Banking in Turkey

WHAT YOU’LL LEARN

If you are starting a business in Turkey or buying property in Turkey, banking in Turkey is something you will undoubtedly be involved in. Likely most banks do have English speaking staff available at branches, English websites as well as ATM’s in English. At Kingsman Estates we help our clients regarding banking in Turkey when they purchase property with us.

Social Security in Turkey

WHAT YOU’LL LEARN

If you are a resident in Turkey or working in Turkey you are eligible to apply to social security in Turkey. Being part of social security in Turkey has various benefits such as getting access to cheap healthcare in Turkey. Although standards can vary from region to region benefits of being part of social security in Turkey outweigh the limitations.

Welfare Benefits In Turkey

WHAT YOU’LL LEARN

If you are a resident in Turkey or working in Turkey you are eligible to apply to social security in Turkey. Being part of social security in Turkey has various benefits such as getting access to cheap healthcare in Turkey. Although standards can vary from region to region benefits of being part of social security in Turkey outweigh the limitations.

Wills and Inheritance Law in Turkey

WHAT YOU’LL LEARN

If you have a property in Turkey or any other immovable asset in Turkey you should have an idea regarding the wills and inheritance law in Turkey. Understanding the laws and completing a few steps before the asset holder’s death will assure the smooth transition of assets to their ‘heirs’.

 

What is the best currency to use in Turkey?

Well obviously the best currency to use in Turkey is the Turkish Lira. However please be aware that shops in touristy areas are usually happy to accept Euros and Dollars. Having said that please make sure you are not getting a bad exchange rate deal when using currencies other than Turkish Lira.

What is the money called in Turkey?

There is no limit on how much cash money can legally be brought into Turkey. However there is a limit of 5000 Dollars when it comes to leaving Turkey. So please use the banking system when dealing with over 5000 Dollars.

Can I use US dollars in Turkey?

Most shops in touristy areas in Turkey are happy to accept Dollars in Turkey. However make sure you are not getting a bad deal on the exchange rates in Turkey.

Should I take cash to Turkey?

When you are travelling to any country, it is a good idea to have some amount of cash in case of an emergency. Please do not bring Turkish Lira to Turkey as exchange rate deals are much better in Turkey (except hotels). 

Is Turkey still cheap?

Turkey is extremely cheap when compared to places like London and Paris. Turkey will be one of the cheapest places to live and spend money in the world. 

Is 2000 Turkish lira enough for a week?

Answers to this question will massively depend on your lifestyle. However minimum wage is 2800 Lira per month so 2000 lira for a week should be sufficient for anyone. 

Is the Turkish lira still used?

YES! Turkish Lira is the official currency of Turkey.

Which country’s currency is called TRY?

TRY is the abbreviation of Turkish Lira and it is used in Turkey and some parts of Syria.

What is the currency of Istanbul?

Official currency of Turkey is Turkish Lira which includes Istanbul. Most places will accept Euros and Dollars in Istanbul and touristy parts of Turkey.

 Is Turkey cheap for food and drink?

When it comes to food and drinks, Turkey is extremely cheap when compared to places like London and Paris. You can have a three course meal in a decent restaurant in Turkey for around 20 Dollars.

What is famous in Turkey?

Turkey has a deep culture and history thus making lots of things famous in Turkey. Antalya and Istanbul can be given as an example when it comes to what is famous in Turkey. 

How much do meals cost in Turkey?

The answer to this question will depend on where you are willing to as well as your alcohol consumption. You can have a three course meal without alcohol for around 20 Dollars in Turkey.

Compare listings

Compare
× How can I help you?