Holiday Let New Controls

[JohnF]

No shortage of brothels in Turkey.

Even do tours to them, note the 30% discount if you're over 60 Colwyn  

http://istanbulbrothels.com/

JF

[Colwyn]

And there's me thinking all their customers were "Johns".

[JohnF]

Touché

 

JF

[Inspector]

According to the recent article in the Fethiye Times there is no charge for the software.

Yes there is free version on Police and Jandarma web sites. But its not a user friendly program. You need to fill in details manualy everyday. There is pay softwares easy to use and starting from 200 lira. I searched for engilish supporting software but couldnt find.

[Rana]

We are considering renting our Apartment out for long term rental for next year as it seems like less hassle. We can try somewhere different for a change, Never been to Bodrum or Izmir.   

[Karennina]

So how does the long term rental situation work, did i read you dont need to let the authorities know if you have a long term renter in your property, just do the tax side of things but no need to buy the software etc?

[Rana]

Think that's the case karennina unless they change it.  I read it as that anyway.   

[stoop]

http://www.fethiyetimes.com/property/21269-giykimbil-system-short-term-property-rentals-turkey.html


This is the latest info and it looks like a very big nail in the tourist coffin!

Look at the cost of running this. Ok the software is free but you have to instruct an accountant and an agent to run things for you. It's just not going to be worth it for most foreign owners.

Some cheap villas to flood the market soon I guess.


"What are the fixed costs?

There are a number of fixed costs associated with the scheme. Should you wish to continue renting your property, in order to ensure that you are abiding by the current rules outlined within the amendment; each property owner will be required to instruct the services of an accountant and a legally employed responsible property manager residing in Turkey to communicate with the authorities.

Currently, initial start up costs for registering as a business is approximately 5,000 TL (tax deductible)

On-going costs once registered as a business is approximately 3,000 TL per month excluding income tax (tax deductible) Plus 1,128 TL per year as a one off payment (tax deductible)."

[stoop]

I thought there was some light in this statement but it appears it has to be your permanent home. I've asked for clarification.

"Subsequently, as long as there is no payment involved, it is the owner(s) primary residence and there is no evidence of marketing (be it online: via a website, through social media, or by word of mouth), their families, relatives or friends are free to use the property and do not have to inform the authorities of their arrival or departure using the GIYKIMBIL System."

[JohnF]

The start up costs they quote are a bit on the light side, it's likely to be closer to 6,000tl and each additional director/partner adds about 500tl. 

I don't know where they get the ongoing monthly costs of 3,000tl as apart from the monthly accountants fee and a number of smallish taxes, this figure is wholly dependent on turnover. 

One important point is that unlike in the UK, once you've set up a limited company you're stuck with it!  Closing down a limited company is Turkey can take up to two years, during which you're still liable for accountants fees, taxes and any social security payments.

JF