1. Once you have seen the properties in North Cyprus, you will be ready to make your decision what to buy.
2. You will choose your favorite property.
3. We negotiate the price and conditions of purchase.
4. Our sales managers assist you for signing the contract, and consider all the conditions of sale: the price of property, dates, passport details of the seller & buyer or other special conditions.
5. The next step is to take advice from a lawyer for all matters from conveyancing to making a will. In north Cyprus, you need a Cypriot lawyer to approve the contract, transferring the title deeds and other buying procedures. We can offer you to work with our lawyers or you can choose any other lawyers that you know in north Cyprus.
6. A deposit of 1,000 pounds to reserve the chosen property may have been paid, which is not refundable.
7. The lawyer will then check and provide the contract of sale to be signed by you and the vendor.
8. You make your first payment, you pay for consulting services and legal fees for preparation and registration of the contract, and a state fee for 0.5% of the property price specified in the contract.
9. Within 21 days after signing the contract, you need to register your contract and become its owner. Registration of property in your name at the Land registry office will be done by your lawyer and our staff in one day.
10. In order to purchase a property by foreigners is necessary to obtain special permission to transfer property title deed , which is issued by the Council of Ministers of the Turkish Republic of Northern Cyprus. Lawyer and our staff will prepare the necessary documents and will appeal to the relevant authorities for your permission. To perform this procedure, you need to provide us the following documents:
A copy of the contract;
A copy of your first page passport and the page where the entry visa;
A certificate from the Ministry of Internal Affairs in the community about the criminal record of the buyer, which should be translated into Turkish and certified by the Turkish Embassy.
11. Our staff will help you to fill in all the necessary documents for obtaining such a permit. The procedure for obtaining a permit usually takes 18 to 24 months.
12. VAT is 5 % of the contract price is payable to the vendor when you take occupation of your property (key hand over). This tax is only payable on new properties as re-sale properties normally includes in selling price.
13. Title Transfer Tax – 3% of the contract price (as described above) payable at Title transfer to the name of the purchaser .It is due to the time that your permission to buy is ready. Since you have signed your contract and registered it, you have full possession of your property and fully enjoy it yourself or you can rent it out.
14. The transaction is completed!