In line with the decisions taken by the TRNC Government in order to revive the economy, title deed transfer fees have been reduced for all citizens, TRNC and non-TRNC.
According to the new regulations, when citizens of the Turkish Republic of Northern Cyprus buy flats or residences up to 140 square meters for the first time the title deed transfer fee will be 1%, if they do not exceed 300 square meters for subsequent purchases it will be 3% and if they do exceed 300 square meters it will be 4%. Also for other sales and gift procedures for immovable properties the applied fee will be 4%. All fees to be paid by foreigners regarding immovable property under the said regulation have been reduced to the same percentages paid by citizens of the Turkish Republic of Northern Cyprus.
The discount made in the regulation of Land Registry Office will remain in force until 31 December 2020 (including the given date).
We are happy to help our customers who would like to take the advantage of this opportunity.