Select one of the frequently asked questions below to learn more about buying, selling, and renting real estate. Also, begin to think about important things to consider when diving into your real estate search.
Do I need permission to live in Northern Cyprus
Yes, your permissions to live in Northern Cyprus are applied for by your solicitor at the appropriate government offices. This is typically part of your legal fees for buying property. Where this can be a long arduous process, it’s best handled by a solicitor.
How Long can I stay in TRNC?
You will be issued a 3 months visa for your visit. If you plan to stay longer, we can advise you on applying for residency permissions.
How do I ensure my transactions are valid and legally binding?
It is important to hire a solicitor, who must be based here in the TRNC, to make all necessary checks on your property purchase at the local government offices and produce a thorough Contract of Sale to be signed by you and the developer of the property.
What is the average price for a solicitor in TRNC?
You can expect to pay about 1300 GBP for a solicitor to process your applications for living in TRNC and make a contract of sale. It is important to ask your solicitor what his/her fees cover.
What additional taxes should I expect to pay on top of the cost of my property?
Foreigners can expect to pay VAT which is currently 5% and Stamp Duty which is 6%. These costs are on the value of the property, not the sales price. Typically the property is valuated at far less than the cost of the property. These are to be paid at time of title transfer.
Is it possible to invest from abroad?
Yes. Many buyers are not able to travel to Northern Cyprus and don’t want to miss out on prime property investments or holiday homes. We can talk you through every step of the process of buying property from abroad.
What documents are required when buying property in TRNC?
Your passport is the only document required.
What is the legal system in Northern Cyprus?
The legal system is the British legal system.