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Registering a property in Northern Cyprus is not difficult, although the procedure has some nuances. The process consists of the following steps:
- payment of stamp duty 0.5% of the property value within 21 days after signing the sale contract;
- registration of the contract in the land registry of the region to which the property belongs. After that, the seller will not be able to sell your property or mortgage it;
- payment of duty 165-195 Turkish lira (depending on the region);
The next important step is the transfer of title to your name. This will require:
- permission of the TRNC Council of Ministers for the purchase (this process may take several months);
- notification of the seller after obtaining permission and filling out land registration forms of applications for property valuation;
- payment of taxes on the transfer of ownership (1-3% of the property valuation) and 5% VAT (VAT) if it has not been paid before.
The property is now registered in your name!
You can register real estate without your presence — for this you need to issue a power of attorney in advance.
It is important to know that according to the legislation of Northern Cyprus, foreigners who are not citizens of the TRNC have the right to register ownership of only one property on a land plot of no more than 5 donums (about 4590 m2).
You are not prohibited from buying multiple properties, but you can only have one title. Also, the husband and wife are considered one individual.
Contact us, take the first step towards buying your dream home in North Cyprus! We will help you with registration of real estate and obtaining a residence permit.
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