How can we make preliminary permit applications to buy immovable property from Cyprus?

Foreigners or Turkish citizens who will buy or rent immovable property in the TRNC, must apply to the Ministry of Internal Affairs and obtain the approval of the Council of Ministers as a result of the investigations to be carried out by the Ministry in order to be able to purchase immovable property and to be legally entitled to that property. If you wish, our real estate office offers you this service…. Necessary documents are clean of registry, Passport or identity card, sales contract, etc.

What are the taxes and expenses to be paid during the purchase of immovable property from Cyprus?

In purchases of brand new homes ;

Stamp Fee: It is the tax paid to the tax office at the rate of 0.5% during the contract / contract phase for the stamp / contract to be officialized.

VAT: The tax paid by the customer for the Tax Office at the rate of 5% over the Contract / Contract Price. Paid before home delivery takes place.

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Hello from Address Estate. As we said in the title of our article, now is the time to invest in northern Cyprus. Lets see together the reason behind it..

The UK’s election process and the drop in the British pound expected in the period of Brexit have had an incredibly positive impact on the Real Estate market in Northern Cyprus.

This fluctuation, which is expected to last for about two months, has increased the appetite of investors due to the affordable prices of real estate in Northern Cyprus. This has led to a positive effect in the real estate market.

In particular, investments to be made at this time for those who want to invest in North Cyprus will provide more profitable return in the future.

. In August and September, economists, who thought it would be the best time to invest, made a statement that this fluctuation, which started with the Brexit process, began to fall further with the election of Boris Johnson as the prime minister.

In addition, interest rates declined in mid-July with the intervention of the Central Bank.

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PROCESS OF THE RESIDENCE PERMIT FOR FOREIGNERS WHO POSSESS IMMOVABLE PROPERTY IN THE T.R.N.C

Foreigners who possess immovable property in the TRNC may be granted 1 year renewable residence permit for the first 3 years and thereafter two years renewable permit provided that they have obtained the title deeds registered to their names.

CRITERIA FOR RESIDENCE PERMIT FOR FOREIGNERS WHO POSSESS IMMOVABLE PROPERTY IN THE T.R.N.C

He/she must possess a house suitable for residence that is currently being used for this purpose.

If the title deed of a dwelling is divided into more than one share and one of the shareholders has been issued a short-term residence permit in accordance with this paragraph, no short-term residence permit shall be granted to another shareholder for the same dwelling.

In the event that the immovable property has been purchased through concluding a contract, it is require ...