The process of buying an immovable property in North Cyprus is as follows:
- You choose the property you like.
- We agree the price and terms of purchase.
- The lawyer together with the employee of our company to conclude the contract, where the terms of sale are indicated: the value of the real estate, terms, passport data of the seller, the buyer and other special conditions.
- A deposit of GBP 1,000 is paid to reserve the property you have chosen.
- The contract is signed by the buyer.
- You make the first payment, pay for consulting services for work on the preparation and registration of the contract, plus a state fee of 0.5% of the value of the property, in the contract.
- Within 21 days after signing the contract for the purchase of real estate you become your owner. Registration of real estate in your name in the Land Parliament is handled by a lawyer and employees of our company who are processing your transaction.
- To acquire a foreigner's property, special permits are required to transfer real estate titles that are issued to the borders of the Ministers of the Turkish Republic of Northern Cyprus. The lawyer and employees of our company receive the relevant documents and apply to the appropriate authorities for obtaining the chosen permit. To perform this procedure, you need to provide the following package of documents:
- a copy of the contract;
- the questionnaire;
- a copy of the front side of the passport and the page where the entry visa is located;
- a certificate from the Ministry of Internal Affairs at the place of residence, without intermediaries.
- Employees of our company will help you fill out all the necessary documents for obtaining such permission. The procedure for obtaining authorization usually takes from 18 to 24 months.
- When you receive the keys to the property you have purchased, you pay 5% VAT on the value of the property, in the contract.
- After obtaining permission to purchase real estate by a foreigner from the Council of Ministers of the Turkish Republic of Northern Cyprus, you pay a tax on the transfer of titles in the amount of 3% of the value of the property, in the contract - the cost of transferring the title to real estate in your name.
- After payment of the rest of the cost, real estate titles are transferred to your name.
The transaction is complete!