New min wage 29640 tl

[Reyntj]

Confirmed at 29640 tl net wage . C 40 % of workers on this apparently ..not government workers though .

Many employees provide a meal and accomodation so you have to figure that in to the equation to when you add up their costs . It costs easily £1000 per month to employ someone I guess.

It's £24600 employers cost in the UK to employ somebody on the living wage although a much smaller proportion are on the lowest level in the UK .

There are some impediments here that make things more costly here like diseconomies of scale ,bureaucracy, supply and demand etc etc oh and greed

[benjaminbutton]

Ah yes, Greed. Last but by no means least.

[waddo]

Don't forget that those who rent are classed as "High Earners" so the NET new minimum wage is not the one they have to look at. In fact they have to find the GROSS which is 34 thousand 70 TL this time - times three by the way - that is a rise of 23.5% on top of the rise of 52% in the January minimum wage rise.

Not complaining but I will predict that the September minimum wage rise will be 22.5% making the total rise for the year at 98%. Just the application of simple arithmetic will tell you how long the average renter can meet the residency requirements under the current requirements. So if you want to get rid of the Third Country Nationals, that tend to keep the country afloat outside of the tourist season, then it is happening now!

I remain confused as to why a property owner only has to prove an income of 1 times the minimum wage, when a renter has to prove 3 times the minimum wage - any offers as to why? Of course the renter could just have over a million Turkish Lira in a bank account and still meet the requirements of 12 times 3 times the minimum wage I suppose - till the next rise.

Greed - never heard of it - lol.

[benjaminbutton]

Waddo, I am a property owner, have been for twenty years. Two residencies ago, they made an error and classified us both as High Income and won't admit they are wrong. Hence we continue to pay the higher amount. Our UK pensions are not keeping up with the increases in this country, hence we are trying to leave the country, but even that is more and more difficult with each passing month,

[alphamike]

BB you are not the only one that has happened to. I only noticed a few months back after hearing of others with property that this had happened to. I am going to attempt to get it changed for residency renewal in July.

[waddo]

There are many of us in the same boat BB, admittedly yours is remarkably different in that you are a property owner on high income - that is crazy indeed! I remain confused as to why a property owner only has to prove an income of 1 times the minimum wage, when a renter has to prove 3 times the minimum wage - any offers as to why?

I would be happy to have to prove only 1 minimum wage as it appears that is adequate for a family of four TC's to live on here! Discrimination there - no of course not! The property owner can sell and put the money in the bank here and then will be fine. The leave and take the money with them and the country loses that income as well. The renter has to prove three times twelve times the minimum wage in a bank and can't spend any of it - or show an income of three times the minimum wage, which becomes increasingly impossible as every 4 month minimum wage increase applies.

As I rent and have a rental agreement - normally for a five year period - I am more than happy to pay that five years rent in advance and then only have to show 1 minimum wage. As I am not leaving this country unless I am thrown out there are no losers and only winners to this plan. It does not have to be 5 years, it can be 1, 2, 3, 4, or any amount the renter wishes to pay - then directly linked to the amount of years of residency given it is just too simple!!! Even throw in the average rent increase of 10% per year so that the property landlord won't lose as well - why not????

[Keithcaley]

...I remain confused as to why a property owner only has to prove an income of 1 times the minimum wage, when a renter has to prove 3 times the minimum wage...

...as do I...

When a 'Renter' has paid his rent, his only other essential regular outgoings are electric, gas, water & food - whereas Property Owners have the maintenance of the building, gardens and pool to pay for, as well as Belediye bills etc.

[waddo]

Ah, that's why! So what you are saying is that in addition to the RENT that the renter has to pay, they then have to prove that they have 68,140TL more a month than a property owner because a property owner has to pay that amount every month for his pool (which was his choice to have and to fund anyway), gardener (because he is to lazy to do it himself), his building maintenance and that huge annual amount of Belediye payment! Us renters have so much spare cash every month it is hard to get rid of it!! I can only say - PHOOEY - I feel really sorry for the property owner having to eke out his existence on his 1 minimum wage a month - lol.

All in fun Keith, all in fun - it's a mad world here and in the UK but I prefer to go insane here as I still fit in and nobody actually notices - lol.

[Reyntj]

It is what it is . In many many countries you can gain residency etc by property investment .here if you buy property then the income hurdle is lower can't see what's to analyse that's the rules. The rationale is clear. You buy a property investment here it's lower threshold .
It's to do with investment and not if you pay a Gardner or beledeysi tax. Naturally the country doesn't want people here with little assets and low income . They can't assess each case on individual merits so they put in place a system which has a lower income threshold if you buy a property here . Seems reasonable .

[Kanonier]

I can recall, not so many years ago, potential purchasers seeking advice about the pros and cons of buying property here. The general consensus of opinion was "Rent before you buy".

[Reyntj]

I still think that's the consensus. If you have the money to buy you can meet the threshold requirements as a renter and decided later if it's for you .

[waddo]

Agreed - Good idea, fill up the country with property owners who can barely scrape together 1 months minimum wage - but they are good because they have invested FOR THEIR future and nothing goes to the country when they leave really does it? Sadly the country is based on people with little assets and low income, that is why there is a four monthly rise in the minimum wage. The country is happy to take in anyone with the money income to provide for themselves as all their income is going back into the country and not being invested for themselves for when they leave - as the vast majority of foreign buyers end up doing anyway. It still makes no sense to me, having lived here for 17 years and spent over £500,000 into the economy one way or another in that time, I am happy to rent, do my own gardening, house maintenance, property improvements, pay the beledeysi tax the same as a property owner. But now I give up trying to figure out why the difference.

I have a theory that some time back, when the "Gentlemen's" agreement was finally put away and other things like how much a property should be worth (120,000 Euros) to qualify you if you wanted the mythical Permanent Residency, that a mistake was made right then. The law requires that the foreigner who steps off the boat can stay for a period of not more than 90 days BUT must provide proof of sufficient funds to allow that! That was the three times minimum wage bit. Then "They" said what about somebody who stays here for a year - the answer was simple - 12 times the minimum wage - easy. Somewhere, somebody made a mistake and added the 3 times minimum wage figure (required for a 3 month period) as the minimum wage amount that was required for 12 months - hence 3 X 12 - when it should really have been 12 times?

But as you say - It is what it is! If nothing ever changes it will always stay the same. When we first came we had money to buy but elected to Lease instead - then when lease became the same as rent it was too late to change so we just carried on. As the saying goes "If ifs and buts were pots and pans there would be no need for tinkers". such is life. Take care out there all, it's a great life anyway.

[Brinsley]

I'm mystified by 'minimum wage' or naive; is it per day/week/month/year/eclipse of the moon/sun or when the currency printing presses are mended to roll out more monopoly paper?
Surely, it must be shown as per HOUR. Not everyone is contractual salaried, what about part-timers?

[Dalartokat]

Don't forget that those who rent are classed as "High Earners" so the NET new minimum wage is not the one they have to look at. In fact they have to find the GROSS which is 34 thousand 70 TL this time - times three by the way - that is a rise of 23.5% on top of the rise of 52% in the January minimum wage rise.

Not complaining but I will predict that the September minimum wage rise will be 22.5% making the total rise for the year at 98%. Just the application of simple arithmetic will tell you how long the average renter can meet the residency requirements under the current requirements. So if you want to get rid of the Third Country Nationals, that tend to keep the country afloat outside of the tourist season, then it is happening now!

I remain confused as to why a property owner only has to prove an income of 1 times the minimum wage, when a renter has to prove 3 times the minimum wage - any offers as to why? Of course the renter could just have over a million Turkish Lira in a bank account and still meet the requirements of 12 times 3 times the minimum wage I suppose - till the next rise.

Greed - never heard of it - lol.

Food for thought maybe, shown on the highlighted area at the bottom back in 2020….. https://cyprusscene.com/2020/02/23/trnc ... f%20income.

[Reyntj]

Well there you go waddo ..know idea what you are moaning about ..

You say you put £500 k in over 17 years ..that's c £30 k per annum ..

Coincidentally the figure required for renters !!!!

But did you really spend £30 k 17 years ago your lifestyle must have declined by multiples ...that was a lot of money then when it was next to nothing for a lamb chop dinner ....I came in 2011 and it was hard work to spend more than a grand a month ..

UK is now £29k income for a visa plus a lot more hoops to jump through.

On the minimum wage brinsley not everyone follows the British ..quoting hourly rate we don't set the standard worid wide . Turkey and trnc quote monthly net and gross wage as the minimum. As I believe do some other countries like greek Cyprus. Monthly wage is arguably a better comparison as different countries have different working hours. Greek Cyprus is €900 trnc interestingly is now approaching that...I make it €874....if they keep increasing it by inflation you can see a scenario where minimum wage here will be more than the greek side ..which seems a bit bizarre ...do the Greeks start crossing the border to work here Greece is only 830 euro...
Turkey net min wage is c 17000 TL here it's now a huge lot more something seems amiss ..75% more ??

[ljarvo]

To qualify for a visa in Portugal it actually costs less than N Cyprus now ….

[waddo]

Reyntj, Firstly I am not moaning - although you may think so and that is your prerogative. Secondly and probably most importantly I am not arguing either, simply trying to understand the reasoning behind the difference in Property Ownership and High Income. Last but not least, I have absolutely no interest in how much it costs for a visa for the UK, anyone who wants to go and live there is welcome to go, I still pay my income tax there and always will so go and have the benefits of it for free!

No, I did not spend £30K 17 years ago, I actually spent £120K to lease a plot of Turkish Title land (we could have bought the land but did not want to take any Turkish Title land away from the Turkish Cypriots) and have a house built on it. By the time the end of year 3 had rolled around and cars had been purchased and the extras purchased - something everyone who buys here does - paid for the container of goods shipping and import taxes, paid for the change in tax requirements now levied against leaseholders and all the myriad of unseen costs associated with beginning to live here - such as medical checks and repairs, medications, residency costs, increases in water/electric/wood for heating etc, etc, that took care of another £60K over the 3 year period! Now you are looking at £320K spread over 14 years = £22,857K a year.

Because the house we had built ended up being too large for just the two of us and cost too much to run, we elected to move to a smaller property, so in year 4 we cancelled the leasehold and moved into rental instead - where we have been very happy I might add. How we achieved that is our issue and not for public discussion, what I can say is that it was not cost free, but was well worth the outlay - no regrets. We have a rolling rental agreement - Notarised - and total freedom to change/improve the property we moved to in order to make it our own. In round terms we have spent over £75K on upgrades, additions and changes to this property in the past 14 years so take that figure away from the £320K as well, leaving us with £245K we have spent on other things in the past 14 years = £17.5K or £1458 per month for living costs.

Coincidentally that is the figure for High Earners in December 2023! Not that this has any bearing on the whole issue at all.

I suppose we could have lived high on the hog on that figure but instead we lead a somewhat quiet life, content to look after our dogs, do our own gardening, renew/upgrade things as required including vehicles - three years ago we managed to save enough to buy a new car and get rid of one of the wrecks we have been driving around - lol. By then end of last year we had actually managed to save around £16K in the bank as well and things were looking good for the future. Sadly the UK bank we were with suddenly decided that as we live abroad they would close our account - being paid by Govt Pensions it took 3 months to sort that lot out as well and on top of that a rise of 52% in the minimum wage nearly ended our dream of living here. This year we will take our first holiday and first steps off the Island in 17 years, having spend all of our money here in the TRNC and unlike in the UK, after that amount of time we are still TEMPORARY RESIDENTS!! Maybe we will make the "cut" when we apply for residency renewal later this year but if not then we will await deportation - having proven we can support the TRNC and live a quiet life on the income we receive, because we do not own property and will fail to meet what is expected to be around £46K in savings by that time we will be told to leave.

We will take our pensions, our dog and what we need to start again and leave - to where I have no idea at this time. We will also take whatever amount we have in our bank with us and say goodbye and thank you! The losers in this tale are simple, we lose 17 years of peace and happiness and the TRNC loses all of our income for the future.

BUT, if we had bought property for investment then we could leave with more than we came with plus a big smile and the TRNC would lose all of that as well, or we could easily meet the single minimum wage requirement and stay here. All because the TRNC requires us as "High Earners" to prove we have sufficient funds to live here - that is the part that does not make any sense to me? We always keep an eye on the future and just wonder how many Property Owners who live here on UK State Pensions worry about when the single minimum wage becomes more than the pension of just one person! At the current rate of increases I think that will be around May 2025 - good luck then!

Hope this all makes sense to you now.

[forestpixie]

...I remain confused as to why a property owner only has to prove an income of 1 times the minimum wage, when a renter has to prove 3 times the minimum wage...

...as do I...

When a 'Renter' has paid his rent, his only other essential regular outgoings are electric, gas, water & food - whereas Property Owners have the maintenance of the building, gardens and pool to pay for, as well as Belediye bills etc.

Having rented a number of times here I can confirm that site maintenance is not often included in the rent! Also if you're stuck with a particularly obnoxious non caring landlord you'll also find yourself paying for repairs that you don't want to!

[Reyntj]

Population figures out at 800000. Maybe British contingent is 2 % of that an ever decreasing minority from what I'm reading . There seems a line of new people to replace those leaving . Despite current economic problems in turkey I can see them getting more and more wealthy in the next 10 to 20 years and can only envisage trnc becoming more &more expensive .

https://www.kibrispostasi.com/c35-KIBRI ... -krli-ulke

Forbes are claiming trnc is the most profitable place to buy..

As the country is changing different people are moving here and some are leaving for different reasons .

[Reyntj]

It seems an incredible act of philanthropy waddo to lease a plot of land 17 years ago for £120 k because you didn't want to take it away fromm the Turkish Cypriots ..then cancel your lease a few years later .

[waddo]

You think whatever you wish - my conscience is clear! The reason given was only part of the overall reason - we would have stayed there if it were not for people who wished to change our way of life into their way of life, we did not retire here become barfly's or world travellers. We came here to start a new life and support the local people. However, too late I found out that to give support freely is not easy in this country and can easily land the giver in trouble. We moved and started life again, wiser but poorer - lol. Again, no regrets and the Turkish Title land remains Turkish Title still, the house we had built and paid for is in full time use with a local family that fills it too capacity and are our great friends. Win all around for us. You can't buy happiness but you can promote it - the house will stand there for many years after we have gone into the ground and that is a nice legacy to have.

[Reyntj]

I can't really think anything really waddo because 1 minute you said you cancelled the lease because it was too big now you would have stayed but something to do with people change your life .but if you present ever changing stories who knows except for yourself . It's your business to be fair. It seems whatever happened you have took a positive view on it which is a good way to be.

I have read on here people saying how much money they spent in this country but I can't get my head round why that makes them entitled to anything moving forward . For years it was cheap here and possible to live a higher quality of life than other places. The best one is when they say they pay all their taxes which turns out to be the very small council tax ...seen that a few times ..then they start telling everyone what a big loss it's going to be when they Leave probably need to take a reality check there is 800000 people here. This wasn't aimed at you waddo by the way . I read some russian telegram forums and some are also complaining about costs and residency also but they don't frame it like they are owed something or their departure will be some big loss to the country . Seems to be a British trait.

[waddo]

The reason given was only part of the overall reason - then I provided you with another part - simple really. But that's it now.

[snd1966]

I feel sorry for the foreign workers who have worked here, made their life here but did not get their kimlik before retiring but receive their full pension. If they rent bye bye, ok the majority want to return to their own country but a few will not.