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And we will give you free advice on purchasing real estate in Northerh Cyprus
The Republic of Northern Cyprus invites foreign citizens to participate in the permanent residence program for an apartment purchase and investment. Real estate costs are not limited to just its value. When making a sales contract, you must pay state taxes.
When buying an apartment in North Cyprus, a foreigner must pay four basic fees:
The real estate final price can vary: it depends on who pays the fees – the seller or the buyer. These issues are coordinated in the contractual relations registration process. Often the former owner pays capital gains tax, while the buyer pays stamp and transfer fees.
If the seller is an individual, the transaction is not subject to VAT, if it is a legal entity, it is taxed. If the transaction has a commercial basis, the value-added tax is also paid.
The tax service calculates the fee amount for transfer of title deed, VAT and capital gains tax concerning the contractual property assessment. This requires providing the inspection with the sales contract copy. The tax office will calculate the fee amount at the contractual or assessed value.
Percentage ratio:
There are payments in the country for object maintenance:
Thus, when buying a property in Northern Cyprus, the investor shares the duties’ payment with the seller. Our company helps to calculate payments and all expenses associated with the real estate purchase and maintenance.
And we will give you free advice on purchasing real estate in Northerh Cyprus