What is the Estimated Cost of Living In the City of Istanbul, Turkey.
A lot of people ask us How much money should we bring to Turkey? The answer, needless to say, it depends!
Here are some overall financials you need to be aware of. Needless to say, these are estimates. Your actual budget and the cost of living in Istanbul (or any other city in Turkey) will vary according to your lifestyle and the locale in which you reside.
- Ticket to Istanbul (Rs. 95,000 approximately per person)
- Hotel Stay (until you find an apartment): $500 (for one week)
- Renting Apartment (approximately 2000 TL (Turkish Lira) for a one bedroom apartment). You will legally be liable for the rental agreement fees. You will need to pay one month advance, 2 months in deposit and approximately 1.5 times the monthly rent in agent fees.
- Furnishing (one-time): 10,000 to 15,000 TL (this can be as low as TL 7,500 and there is no limit as to how high you want it to be)
- Basic Immigration Insurance: 600 TL per person.
- Proof of funds US$ 500 per person per month to show the ability to support yourself during your short-term stay $6,000 per year
- Our fees: $1500 (recommended) per person (https://turkeyresidentvisa.com/fees/)
At the suggested minimum, you require the following to live in Turkey: $7550 Total and 50,000 Turkish Lira per year.
Based on your pre-assessment submission, you could most likely/fully qualify for a Short Term Residence Permit.
Important Note Regarding Working in Turkey / Work Permit in Turkey
If you work OUTSIDE of Turkey or have a source of income outside Turkey, this is acceptable and okay. In fact, you are the most preferred candidate for living in Turkey. Meaning as long as you are not employed by a local Turkish company, and are earning your money from outside of Turkey (or online on the Internet), you continue with this arrangement on your existing residence permit.
In Turkey, there is no ‘generic’ work permit, i.e. work permit visa is ONLY granted if you have a job offer and will represent the name/details of your employer. To apply for the work permit, your employer has to initiate the necessary paperwork, which we can then process further for application of work permit visa.
You can be inside Turkey or outside Turkey to process your work permit, but typically (not mandatory), you will have to go back to your country and go to Consulate/Embassy to apply and process your work permit application.