Living in a global society where it becomes easier to live wherever you wish has also opened doors for retirees who look to spend their retirement years in a sunny, warm, and welcoming climate. Turkey is one of the best places to retire in Europe, offering all of this and much more, with most expats embracing everything it offers.
To retire in Turkey means living amongst rich history and stunning landscapes that create an ideal haven for your golden years. From vibrant bazaars to tranquil coastal escapes, you’ll discover a lifestyle that blends cultural intrigue with modern comfort.
In this guide you will learn about:
About Turkey
Situated between Europe and Asia, Turkey offers the ideal blend of culturally rich tradition and modernity. Turkey offers the ideal mix of western and eastern influences, combined into one fantastic retirement destination.
From the Mediterranean coast offering a laid-back lifestyle with warm summer days and strolls on the beach to bustling city life in the capital city of Istanbul, Turkey offers something for every retiree.
As a predominantly Muslim country, Turkey has an abundance of religious influences, while its people uphold a warm and hospitable nature. Turkish is the main language spoken, so learning to speak Turkish is highly recommended for all retirees to embrace daily life in Turkey.
Overall, Turkey offers a significantly cheaper cost of living when compared with other European countries and the US. This is one of the main reasons Turkey is one of the best places to retire.
Additionally, the range of investment options has made the country a dream retirement destination. The Turkey citizenship by investment program is quickly becoming one of the most popular citizenship programs.
How to Retire in Turkey
In the following section, you’ll find out everything you need to know about retirement visas and residence permits for Turkey.
Turkish retirement visa
Turkey does not offer a visa specifically for the retirement of foreign citizens, so the alternative is to apply for a residence permit, obligatory for stays exceeding three months.
Turkish Residence permit
The Turkish residence permit is required for stays longer than three months. Applications must be submitted after one month in Turkey. Typically valid for two years, the permit requires proof of accommodation and sufficient funds to support yourself without assistance from the Turkish government.
Upon eight uninterrupted years of residing in Turkey under a residence permit, expats are eligible to apply for Turkish citizenship by naturalization.
Irrespective of the type of Turkish visa or residence you’re after, proving you’ve got adequate financial means is necessary. The exact amount depends on factors such as dependents, with a single individual generally needing at least the equivalent of a month’s Turkish minimum wage. As of June 2023, the Turkish government increased the Turkish minimum wage to around $495 per month.
Turkish citizenship by investment
The Mediterranean lifestyle is addictive, combined with the charm of the Turkish people and Turkish culture, so it’s not surprising that many expats seek to learn how to get Turkish citizenship instead of opting for Turkish residency only.
The Turkish Citizenship by Investment program was established to grow the Turkish economy, providing several paths for investors seeking Turkish citizenship. Key investment options include:
- Real Estate: Invest a minimum of $400,000 in property or land. Multiple properties can be purchased to meet this threshold.
- Bank Deposit: Deposit at least $500,000 in a Turkish bank for three years.
- Government Bonds: Invest a minimum of $500,000 in Turkish government bonds, with options to use various currencies.
- Investment Funds: Contribute $500,000 to a real estate or venture capital fund.
- Business Investment: Make a $500,000 fixed capital investment in a Turkish business.
- Job Creation: Create full-time jobs for at least 50 people, as regulated by Turkey’s Ministry of Family, Labor, and Social Services.
Take a look at our Turkey Citizenship by Investment Ultimate Guide by Experts
Where to Retire in Turkey: Popular Places
Selecting a retirement destination in Turkey depends on lifestyle choices and, primarily, financial considerations for expats. Each of the following places boasts distinct attractions while living expenses differ considerably from the pricey Istanbul to budget-friendly Aegean resorts.
Antalya: Southern coast hub
Spreading across a substantial portion of the southern coastline, the Antalya region offers numerous favorable aspects. It’s Turkey’s second most sought-after tourist destination and the second leading hub for foreign property sales.
With a bustling city center and quaint coastal getaways, its cosmopolitan ambiance magnetizes people from all over the world. Well-established expat communities have seamlessly integrated into the Mediterranean lifestyle here.
Preferred retiree spots include the eastern endpoint, Alanya, and the central city center. Both offer vibrant shopping and dining scenes, along with robust year-round transportation links to both the rest of Turkey and the world. Prices for property are around $1,610 per square meter in city locations and around half of that outside cities.
Kalkan: Retire in luxury
Nestled to the west of the Antalya region, Kalkan shines as a sophisticated haven on the Turkish Riviera. Apartment prices start at around $165,000, while expansive seaside mansions can go into the six figure zone. Although some retired expats prefer a seasonal stay, a year-round vibrant community invites those seeking lasting friendships and fresh social connections.
Kalkan’s higher cost of living, particularly in dining and entertainment, aligns with its exclusive luxury. The mix of modern architectural designs and panoramic Mediterranean Sea views stands as two compelling reasons expats opt to invest in Kalkan for retirement.
Fethiye region: The darling of Turkey
Fethiye presents an irresistible package. Its breathtaking scenery, relaxed pace of life, and budget-friendly living costs have attracted retirees, particularly from the UK. While some opt for cozier retreats like Hisaronu, Ovacik, and Calis, a substantial community thrives in the town center, relishing year-round access to shopping, dining, entertainment, and excellent transportation.
Close to Fethiye is Dalaman Airport, ensuring convenient access. Added to this are attractively low property prices, with apartments available from $739 per square meter in city locations, making this area even more enticing.
Altinkum: Golden sands
Altinkum, by the Aegean coastline, emerges as an affordable haven that has captured the attention, especially of British retirees. Nevertheless, locations such as Mavisehir exude a more authentically Turkish ambiance. Functioning as a tourist-centric resort, Altinkum thrives between May and October, with life taking a more relaxed pace in off-peak months.
Real estate prices start in the region of $85,000 for a two-bedroom apartment, although more lavish property is also available.
Bodrum Town
Bodrum Town not only captivates the Aegean tourism scene but is also home to a diverse expat community of various nationalities. With its history of welcoming foreigners since the late 1950s, Bodrum nurtures a sense of belonging among retirees.
For sailing enthusiasts in retirement, Bodrum’s an international sailing haven. Its distinctive transportation infrastructure, featuring an airport and a central coach station, seamlessly links it to Turkey and other countries, including Greece, which is only a short boat ride away.
Property prices in Bodrum Center start at around $2,254 per square meter and $1,478 per square meter outside Bodrum Center. Despite relatively high living costs compared to places like Altinkum, Bodrum’s unparalleled ambiance consistently lures retiring expats, reaffirming its appeal year after year.
Yalikavak: Where Aegean Turkey excels
Part of the Bodrum peninsula, Yalikavak seized the spotlight as a sailing epicenter with the grand inauguration of Palmarina. Often touted as a high-end destination, Yalikavak’s appeal attracts a multitude of global retirees, yet it preserves an essence of traditional Turkey in its historic quarter. Here, the spirit of tradition thrives in tea houses, Turkish eateries, barbershops, and more.
Yalikavak caters to year-round living needs, while a short bus ride transports residents to the heightened offerings of Bodrum town center. Real estate prices are at the higher end, similar to Bodrum, with many multi-bedroom mansions available for sale. Rest assured, buying property in Turkey is a fantastic investment opportunity for retirees.
Tax Considerations for Retiring in Turkey
When moving to a foreign country, it’s important to understand, as an expat, that you are expected to pay taxes on your worldwide income. Turkish taxes are determined by a central government body responsible for finances (Turkish MoF).
In line with many other Western countries, Turkey employs distinct tax regulations for residents and non-residents. Residents pay taxes on their global earnings, while non-residents are solely accountable for taxes related to income originating in Turkey. The nation adopts a progressive tax scale structure, spanning from 15 to 40 percent, depending on a person’s income bracket.
A tax treaty between Turkey and the USA presents potential relief for US expats. This arrangement enables contribution to only one country’s social security program. Making things even easier, the Turkey visa for US citizens is only required if you plan to stay in the country for longer than 90 days in a 180 day period.
Healthcare in Turkey for Retirees
The central government body responsible for healthcare and related policies is the Ministry of Health (MoH). Turkey has a public healthcare system, and all residents that are registered with the Social Security Institution (Sosyal Güvenlik Kurumu – SGK) have access to Turkey’s national healthcare systems.
Turkish healthcare is more accessible in cities and urban areas, with some rural areas having less access. What’s more, medical facilities in cities are more likely to cater to English speakers. It’s for that reason that many expats supplement their public health insurance with private health insurance.
Obtaining private health insurance in Turkey gives access to private medical facilities, which can give retirees peace of mind in a medical emergency.
Luckily, healthcare in Turkey is significantly cheaper than in most of Europe and the US, making it a thriving medical tourism destination. However, it’s important to note that the European Health Insurance Card is not accepted in Turkey.
Retirement Age in Turkey
The retirement age in Turkey has been changed recently by President Erdogan. As of early 2023, there is no minimum retirement age for those that have worked for 25 years (men) and 20 years (women), provided that they enrolled in Turkey’s social insurance program before September 8th of 1999.
Before the regulation changes, the retirement age in Turkey was 58 for women and 60 for men, which is still significantly lower than many other countries. For example, the retirement age in Denmark, Iceland, Slovenia, and Luxembourg is 67 for men.
Find out more about Healthcare in Turkey for Expats and Foreigners
How safe is it to retire in Turkey?
Each expat’s experience of living in Turkey is unique. Some might travel through Turkey and discover minimal security concerns. Nonetheless, applying common sense and being vigilant in busy city centers is recommended. The US Department of State’s travel advisory highlights the need for vigilance against both terrorism and arbitrary detentions while visiting or transiting through Turkey.
It is generally advised to avoid the provinces of Sirnak and Hakkari in the southeastern region, as well as any region within a six-mile radius of the Syrian border due to potential terrorist activities.
Although taking part in Turkish life and engaging with locals and their culture is always encouraged, staying attentive to surroundings and monitoring political developments is advised. You should also refrain from discussing political matters online, as this could raise concerns.
Tips on Retiring in Turkey
Regardless of your retirement age, making sure that you’re ready to retire is the most important thing. This is the case for your financial as well as your personal circumstances. The following tips might be of help to you:
- Work with a financial advisor to make sure you’re all sorted for your ideal retirement.
- Plan your retirement to ensure you won’t face financial burdens and surprises down the line. Moving to a different country can have its challenges, so it’s best to be prepared in advance.
- Ensure you’ve researched and arranged the healthcare coverage and medical insurance that you need. Healthcare costs can be expensive, so make sure you’re prepared for every eventuality.
Frequently Asked Questions about Retiring in Turkey
Is Turkey a good place to retire?
Turkey can be a favorable retirement destination due to its diverse culture, affordable cost of living, and captivating landscapes. However, one should consider factors like healthcare, language, and political stability when evaluating suitability for retirement.
How much does it cost to retire in Turkey?
The cost of retiring in Turkey varies based on factors like location, lifestyle, and individual preferences. Generally, Turkey offers a relatively affordable retirement compared to many Western countries, with expenses influenced by housing, healthcare, and daily living choices.
Is Turkey a good place for Americans to retire?
Turkey can be an appealing option for American expats. Its rich history, vibrant culture, and diverse landscapes offer a unique experience. However, factors like language, culture shock, and political dynamics should be considered before making a decision.
Where do most American expats live in Turkey?
Most American expats in Turkey tend to settle in major cities like Istanbul and Ankara. Both offer modern amenities, cultural attractions, and business opportunities, while some also choose coastal areas like Antalya for its Mediterranean lifestyle.
Can you live in Turkey without speaking Turkish?
While it’s possible to live in Turkey without speaking Turkish, learning the language significantly enhances daily life, communication, and integration. English is often spoken in urban areas and tourist spots, but local language skills foster deeper connections and smoother interactions.
How can I retire in Turkey as a foreigner?
There are various routes for foreign nationals to retire in Turkey. Some include, a short term residence permit, a long term residence permit, and citizenship by investment.
What is the retirement age in Turkey for men and women?
Recently, President Erdogan updated Turkey’s retirement age regulations. As of early 2023, there is no minimum retirement age for individuals who have worked for 25 years (men) or 20 years (women), as long as they registered in Turkey’s social insurance program before September 8, 1999.
How does the retirement age in Turkey compare to other European countries?
Previously, the retirement age in Turkey was set at 58 for women and 60 for men, which remains lower than in many other countries. For instance, in Denmark, Iceland, Slovenia, and Luxembourg, the retirement age is 67 for men.
Can foreigners retire in Turkey easily, and what are the requirements?
Foreign nationals can easily retire in Turkey. Requirements for retiring in Turkey are generally straight forward. You need to prove you can sustain yourself through income or that you possess adequate assets, have private insurance for healthcare, and have the required visa or permit for a long term stay.
Is Turkey a good place for Americans to retire considering the cost of living?
Retiring in Turkey combines affordability, cultural vibrancy, and high-quality healthcare, making it an appealing choice for many seniors. The cost of living is considerably lower than in the US, allowing you to enjoy a comfortable lifestyle even on a modest budget.
