Signing the Contract
Non-TRNC Citizens are entitled to take title to only one property up to a maximum area of 5 donums per person providing that the property only consists of one dwelling. Under new regulations, husband and wife may now purchase one property each in their own names.
There are 3 types of property titles in the TRNC. They are:
TURKISH TITLE: Title Deeds given to the houses, land and business properties, owned before 1974 by
Turkish Cypriots and foreigners.
EXCHANGE TITLE: Turkish Cypriots, who had to escape to the North in 1974 leaving in the South Cyprus their homes, land and buildings were given equivalent properties by the TRNC government in exchange for those left in the South. Turkish Cypriots, who took over the exchange properties, signed a waiver on their properties left in the South and received the ‘Exchange’ title deeds from the TRNC government. Exchange title properties are considered safe and are valid for any sort of buying/selling operations.
TAHSIS TITLE: Title deeds given to the land which the TRNC government assigned to the TRNC citizens as a reward for military service during the war or to the citizens of mainland Turkey who re-settled in the TRNC after the 1974. These title deeds are under the TRNC government protection and the owners have all the proprietary rights on such properties.
Transfer fee – The transfer fee is 6%. However, every person has a once in a lifetime option to reduce this to 3%. If you use this option on your purchase you will pay 3%. Any other purchase made thereafter, you will pay 6%. On most property purchases, there is also a small local municipality tax which is 1% of the Transfer Fee amount.
VAT – 5%. VAT is usually paid when we deliver the property to you and a receipt will be produced from the tax office on transfer of title as proof of payment.
Stamp Duty – 0.5% of the Contract price provided this is paid within 21 days of signing the contract.
Permission to Purchase
The permission process can take up to 3 to 6 months, whilst processing your purchase permit application, the Council of Ministers will take searches from the land registry, the military and the immigration authorities and provided that these are positive, the permission will be granted.
Weights & Measures
1 donum = 1388 square meters or 14400 square feet
1 donum = consists of 4 evleks
1 evlek = 3600 square feet
1 acre = 3 donums
Building costs in North Cyprus start from £500 per m2. This will vary depending on the quality of the materials used, and extras that the customers have requested. On request the property can be built using materials from all over the world, including the United Kingdom.
Residency & Citizenship
There is no automatic right to reside or work in the TRNC. For those people who wish to stay in the TRNC for longer than the three months period allowed with a tourist visa, a residency permit must be obtained. Residency Permits are valid for one year and you must renew it every year. At the moment, there is a new law in Parliament to allow foreign nationals to become citizens of the TRNC after 10 years of residency.
When buying a property, it is very important to appoint a solicitor, who will assist you from the initial contract to the final stage of owning your own property. Generally Solicitors in North Cyprus will charge a standard conveyancing fee usually in the region of £1000 to £1500.
Paying Your Property
Because of the unique political situation in Northern Cyprus it is not currently possible to raise a foreign mortgage on a property physically located in the TRNC. However, we are able to offer a range of finance options and opportunities for our customers.
There are a number of shipping firms that specialise in moving you to North Cyprus. You can import all of your household goods including electrical goods, tax free for one shipment. However, tax is payable on brand new goods that are still in their packaging. Normal your goods will take about 3 – 6 weeks to arrive.
Clean Record Document
As a non-TRNC purchaser you must supply details of any criminal convictions, in order for your Purchase Permit Application to be processed. Every applicant must obtain a Basic Disclosure Certificate. To do this you should make enquiries with the local police service in your country of origin. This must be in either English or Turkish.