Can I buy real estate in Northern Cyprus from another country?
If you wish to buy a property in Northern Cyprus but you’re unable to come out to view our properties personally, you can do so. We’d be happy to assist you in completing your purchase.
Can I use my own representative from my home country?
Unfortunately, no. You will need to use a representative who is registered here in Northern Cyprus. We’d be happy to present you with a choice of our skilled reps, from which you can choose who to work with.
What additional costs are there when buying a property in Northern Cyprus?
Additional costs include those to do with the contract, power of attorney, property purchase permission, and other necessary proceedings in the sales process. These costs are usually between £1000-1500. There are also a number of taxes to pay upon the transfer of title deeds, which are %6 stamp duty tax to the Cyprus Land Registry, 1% stamp duty tax to the Northern Cyprus local council, and 5% VAT payable to the Northern Cyprus Northern Cyprus Land Registry.
What is a dunam?
A dunam is a third of an acre, and is equal to 1338 square metres. One dunam is also equal to four furrows.
Do I need to have a will in TRNC?
Yes, you'll need to draft and register a will in Northern Cyprus. Any will written in the UK is not admissable here. Once the property purchase has been completed, a will needs to be drafted straight afterwards.
Who will handle the maintenance and payments of my home whilst I'm abroad?
You should liaise with other homeowners in the same block as you to select an Apartment Manager from a management company. They will be responsible for the care and maintenance of your property whilst you are abroad. We'll be happy to recommend you a number of trusted potential companies.
Is there an internationally accepted school in Northern Cyprus our children can attend?
Yes. The British International School of Northern Cyprus and the Turkish International School both offer internationally accepted curriculums.
Do I need permission to live in Northern Cyprus? If so, how do I get it?
Yes, you will need to apply for permission to live in Northern Cyprus. Although this is more of a formality, it's the best way to ensure you don't encounter any problems down the line. When you first enter the country, you'll be granted a 90-day visa period. If you're planning to stay for longer than 90 days, you'll need to apply to the Immigration Office for a temporary visa. The whole process will take around 3 months to complete, and during this time you'll need to visit several government offices. If you need any assistance, we recommend getting in touch with a legal consultant.
What's the VAT rate on property in Northern Cyprus?
Once the necessary requirements for the purchase of a property include permissions from the Ministry of the Interior, the Council of Ministers, and a Police and Security Investigation, the title deed will be transferred to the buyer's name. They will then be liable to pay 5% VAT.
What documents will I need when buying a property?
The only official document you'll need when buying property in Northern Cyprus is your passport.
Who handles the paperwork during the property purchase process?
We recommend arranging a solicitor to aid you in the preparation and submission of all necessary documents for property purchase permission.
What language is spoken in Northern Cyprus?
The official language in Northern Cyprus is Turkish. However, in official and business matters, English is also widely spoken.
How do foreign nationals living in Northern Cyprus obtain leave to remain?
It's possible for foreign nationals living in Northern Cyprus to obtain leave to remain. To do so, you will first need to go to your local police station to present your passport(s). Then, it's necessary to go to Nicosia National Hospital and obtain a medical report. Finally, you will need to make an official application to the Customs & Tax Office.
Do I need a bank account in Northern Cyprus?
No, it isn't necessary but it would be useful for setting up payments, etc.
Is it possible for foreign nationals to set up a company in Northern Cyprus, and then purchase property in the name of that company?
Incorporated or limited companies registered abroad may open a branch of their business in Northern Cyprus, provided they are granted permission from the Ministry of Economy and the Council of Ministers. Under Part 113 of the Cyprus Companies Chapter, non-TRNC citizens can register a company in TRNC. The setting up of a company and the purchase of property by non-TRNC nationals is regulated under the Northern Cyprus Property Acquisition Regulation (Part 109).These regulations cover foreign nationals and foreign properties in the same manner. Both can only purchase a maximum of 1 dunam property at once. In order for a company to be considered a foreign company, a minimum of 51% of the shares must belong to a non-TRNC national shareholder.
How does the banking system work in Northern Cyprus?
The banking system in Northern Cyprus is relatively straightforward and offers a range of services. Some local banks have offices abroad (in London), and some work in partnership with banks from other countries. You can open an account in any of the major currencies with ease, making it easy to pay in and withdraw money as needed.
Can I change specific materials during the design/construction of the property?
Provided that the property you've chosen is still under construction, or the area you wish to make amendments to hasn't been completed yet, we can make any changes free of charge. However, if the area you wish to change is complete, there will be an additional cost involved in applying your needs.
Can you design and build a home based on my needs and requirements?
Yes, we can build the home of your dreams for you. You can learn more about the process in the Our Services section of our site. If you need more information, you can contact our office and we'd be happy to help out.
Can I rent out the property I purchase?
Yes, you may. We can help you with finding a tenant, preparing a tenancy agreement, registering the agreement at the Tax Office and other such legal matters. If you live abroad, you can leave power of attorney with our solicitor who will be happy to handle all of these matters.