New Regulations on Short Term Rentals in Turkey..
As the new regulation laws on short term rental is nearing, at Bodrum White we can help homeowners gain an understanding on the new changes due to take place.
It is required that all homeowners register their guests to the local authority via GIYKIMBIL (Geçici İkamet Yerleri ve Kimlik Bildirme Projesi/Temporary Residency and Identity Notification Project). The main purpose of this change is due to the increase in security measures taken by the Turkish Government.
In addition to the security changes, homeowners are now liable to pay tax on short term rental income. With the support of GIYKIMBIL, tax evasion will be closely monitored by the government and if homeowners do not comply, heavy fines will apply.
REGISTRATION for GIYKIMBIL
Homeowners must visit the local Jandarma to obtain access to the GIYKIMBIL relevant software which is free of charge, however, an additional software can be purchased to send excel files direct.
Information requirements to be provided for GIYKIMBIL include;
- Full name
- Date of Birth
- Male Female
- Identity Number (Passport Number)
- Arrival and Exit Dates to the property.
In the case your home is used for recreational purpose by friends or family without any rental income, you may not be obliged to use the GIYKIMBIL system, however, this is dependant on your district Jandarma or Police Station, it is important you take precaution and confirm the requirements at your local authority.Home owners may be impacted if family and friends are staying at the property and an incident occurs in the absence of the homeowner and the guests are unregistered. We urge you to check with your local authority regarding the rules and regulations of GIYKIMBIL. At Bodrum White we can provide the service of registering both paying or non paying guests for homeowners.
SETUP OF COMPANY (Sole Trader/Limited Company)
For homeowners who wish to open a company for the purpose of short rentals, we at Bodrum White can assist in setting up the company. But, this may not be economically feasible, as the cost of setting up a company is approximately 3.000 TL.
FINES and PENALTIES
Fines and Pentalites for non-complying homeowners are as follows:1. Non-registered property 10.383 TL Fine
2. No-reporting of guests 700 TL fine per day
3. Intentional or accidental innacurate reporting 5.191 TL
GUEST REGISTRATION PACKAGE
(Paying Guests & Family and Friends)
In this package, your property will be registered on Jandarma online system and we will take all information required for GIYKIMBIL, and send through the data to the Jandarma on your behalf.
The annual cost will be 89 GBP for this package.
SHORT TERM RENTAL PACKAGE
(Rental Income Received)
In this package, we will register your property, we will take all information required for GIYKIMBIL, and send through the data to the Jandarma on your behalf. Pay the tax for your rental income during the period it is rented. Pay KDV (VAT), 18% of rental income. Service fee to be paid to Bodrum White.