FAQ

FREQUENTLY ASKED QUESTIONS

Please click on the ‘+‘ button on the right to read the answers to the most frequently asked questions by the contestants.

There are four distinct taxes associated with the process. If a Contract of Sale is executed, the Vendor must pay Stamp Duty equal to 0.5% of the Sale Price.

Additionally, there is a 6% Land Registry Fee for the transfer of the Immovable Property Title Deed, although the Purchaser has the option to pay a one-time fee of 3% instead of 6%.

The Purchaser is responsible for paying the 5% VAT, which is subject to change based on the Professional status of the Vendor; if the Vendor is not a Professional, the Purchaser is not required to pay the 5% VAT.

Finally, the Vendor must pay the Capital Tax. If the transfer is conducted as a gift, the applicable taxes differ; for instance, a gift from parents to children incurs a 0.2% tax, while a gift from grandparents to grandchildren incurs a 0.4% tax in addition to the Capital Tax.

Foreign individuals are limited to purchasing a single immovable property, which may consist of one plot of land, one donum of land, or one house.

To acquire multiple immovable properties, more than one house, or a property exceeding 1 donum, the use of trustees or the creation of a company in T.R.N.C. is necessary.

A construction permit license is required to construct a building or house on the purchased immovable property. The immovable property must be unencumbered by any mortgages, charges, or restrictions.

The Vendor (Seller) must be the rightful and registered freehold owner of the property. The Contract of Sale must be registered at the Land Registry within 21 days of signing.

To register the immovable property in the name of a Foreign National, an application for a permit to purchase property must be submitted to the T.R.N.C. Council or Ministers, and the permit must be granted by the Council of Ministers.

There are several types of Title Deeds associated with real estate in TRNC.

Firstly, there are Pre-1974 Clean Freehold Title Properties, which include Immovable Property Title Deeds owned by Turkish Cypriots, British nationals, and other individuals before 1974.

Secondly, Exchange Properties allow Turkish Cypriots to register their losses from properties they left in South Cyprus and earn points that can be used to acquire property in North Cyprus, including those left by Greek Cypriots as exchange.

Thirdly, there are Turkish Mainland Deed Properties, which are Title Deeds granted by the T.R.N.C. government after 1974 to war veterans, their families, individuals invited from mainland Turkey to live and work in T.R.N.C., and those who relocated from South to North but do not own any property.

Here are the area measurement units commonly used in Northern Cyprus. Additionally, you can utilize our converter below to easily convert between them.

1 Dönüm = 4 Evlek = 14.400 ay² = 1.338 m²

1 Evlek = 3600 ay² = 334,5 m²

1 m² = 10,76 ay²

Before purchasing a property in North Cyprus, it is important to conduct a thorough due diligence check to ensure that the property is free of any mortgages, charges, or other impediments. You can hire a lawyer or a property consultant to assist you with this process.

Once a Contract of Sale has been signed, it must be registered at the Land Registry within 21 days. If the property is being purchased by a foreign national, an application for a permit to purchase property must be submitted to the TRNC Council or Ministers, and the permit must be granted by the Council of Ministers.

Yes, it is necessary to acquire a construction permit license for building a house in North Cyprus. This process involves submitting an application to the local authorities, which will be reviewed by various government agencies. Once the application is approved, a permit will be issued, and construction can begin.

When selecting a real estate agent in North Cyprus, it is important to choose a reputable and experienced agent who is knowledgeable about the local market and can provide you with sound advice. You can ask for referrals from friends or family members who have recently purchased property in North Cyprus, or you can do some research online to find a reputable agent.

Some of the benefits of investing in real estate in North Cyprus include affordable prices, a growing economy, a stable political environment, and a favorable tax system. Additionally, North Cyprus is a popular tourist destination, which means that there is a high demand for rental properties.