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Points to be considered
There are a few points to consider when buying a property in Cyprus. It is necessary to agree on the price of the property to be purchased, official transactions and permissions from official offices.

Here, the process of buying a house in Northern Cyprus is explained step by step.

House Selection
Sales Agreement
Tax Office and Land Registry Office
Ministry of Interior
Deed Transfer

 

 

 

 

Ability to Follow the Procedure
*It will be beneficial to get the support of a lawyer for the initiation and follow-up of the procedures. With the power of attorney to be given to the lawyer, it can be ensured that all official procedures to be carried out on behalf of the buyer are completed.

 

FAQs

Can Foreigners Buy Real Estate in TRNC?

Within the framework of the Law No. 52/2008 on the "Acquisition of Immovable Property and Long Term Rental (Foreigners)" adopted by the TRNC Republic Assembly on November 10, 2008, foreign national real or legal persons, provided that official transactions and legal applications are made, may be approved by the Council of Ministers. Depending on the situation, they have the right to purchase or long-term lease of immovable property from our country. Foreigners who will purchase or lease immovable property in the TRNC must apply to the Ministry of Interior and obtain the approval of the Council of Ministers in order to purchase immovable property and to be legally entitled to that property. The approval process varies according to the nature of the application and is usually completed in 6 to 12 months.

How Many Types of Deeds Are There in the TRNC?

There are 3 types of title deed (stub) in total in the TRNC:
• Turkish Land Registry: The title deeds of Turkish and British places before 1974 are referred to as Turkish Land Registry. It is considered as the safest type of title deed.
• Equivalent Title Deed: The TRNC state has issued title deeds in return for some immovable properties in the North that were previously owned by the Greek Cypriots and the properties left in the South, within the scope of the Settlement, Landing and Equivalent Property Law (ITEM Law). This type of immovable property is called Equivalent Koçanlı among the people.
Allocation Title Deed: It is the type of title given for the places allocated by the TRNC. Persons with this title have the right to use the area. Banks cannot provide housing loans for houses with allocated title deeds.

How to Get a Residence Permit?

Tapu devrinin ardından oturum izni alabilirsiniz. Bu izin 1 yıl süreyle geçerlidir ve her sene yenilemeniz gerekecektir. 3. yılınızı doldurduktan sonra Kıbrıs’ta süresiz oturma izni için başvurabilirsiniz. 65 yaş üzerindeyseniz, tapu devrinin hemen ardından süresiz oturma izni alabilirsiniz. Emekli olduktan sonra hayatınızı burada geçirmek istiyorsanız, önünüzde hiçbir engel bulunmamaktadır. Başka bir vatandaşlıktan KKTC vatandaşlığına geçmek istiyorsanız oturma ve çalışma izniyle 11 yıl boyunca Kıbrıs’ta yaşamanız You can get a residence permit after the title deed transfer. This permit is valid for 1 year and you will have to renew it every year. After completing your 3rd year, you can apply for an indefinite residence permit in Cyprus. If you are over the age of 65, you can get an indefinite residence permit right after the title deed transfer. If you want to spend your life here after retirement, there are no obstacles in front of you. If you want to change from another citizenship to TRNC citizenship, you must live in Cyprus for 11 years with a residence and work permit..

What Should I Consider When Buying Real Estate from TRNC?

You can learn about all your legal responsibilities by examining the Law No. 52/2008 on the "Acquisition of Immovable Property and Long-Term Rental (Foreigners)" regarding the acquisition of real estate by foreigners in the TRNC.
• Mortgage, lien, etc. on the immovable property to be purchased. Issues such as whether there is a restriction or whether there is any personal statement or situation that prevents the sale of the real estate should be checked from the relevant Land Registry and Cadastre Office.
• It is not recommended to work with people or companies that are reliable, expert and not registered in their sector and/or not registered with the relevant authorities. It is recommended that the buildings built by the contractors registered with the KTİMB and the Construction Committee should be preferred. NorthernLAND provides support to its customers in this regard.
• In order to protect the legal rights regarding the issues included in the contract to be made between the owner and the buyer, it is recommended that the contract be certified at a registered Notary public office and a legal opinion must be obtained from a lawyer's office before signing the contract.

What Taxes are Paid When Buying a House?

The following taxes are paid when buying a house in the TRNC:
• Stamp fee: 0.5% of the price on the contract. It must be paid to the tax office within 21 days after signing the sales contract.
• Real estate transfer fee: 6%. It is paid as 3% when the one-time exemption right is used.
• VAT rate: 5%.
• Withholding tax: 0% for the first sale and 3% for the 2nd and 3rd sales within a year. If you are a professional real estate agent, the withholding tax you have to pay is 6.5%.

How Do Transfer Transactions Take Place?

You can contact us for more information. However, the transfer process in Northern Cyprus consists of 5 steps: • Preliminary exchange of contracts.
• Actual exchange of contracts
• Stamping and registration of contracts
• Application for a purchase permit
• Deed transfer

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