Buying property in North Cyprus

Buying a property in Northern Cyprus is not only an opportunity to own a home in a Mediterranean paradise, but also a profitable investment in the future. The process of registering a purchase contract may seem complicated at first glance, but with proper preparation and understanding of all its nuances, it becomes clear and manageable.

General information about the purchase contract registration process

Northern Cyprus, known for its unique geographical location and rich historical heritage, attracts foreign investors thanks to its favorable climate and beautiful nature.

Registering a purchase contract in Northern Cyprus involves several important steps: from selecting a property to verifying its legal integrity to concluding the purchase contract and paying the relevant fees and taxes.

However, it is important to note that Northern Cyprus law requires foreign nationals to obtain a permit to purchase real estate. This requirement helps the authorities regulate foreign investment and ensure the legality of all property transactions. A careful study of these requirements and procedures is key to eliminating legal complications in the future.

Despite the complexity of the whole process, with the right approach and support from real estate professionals, this process can be smooth and hassle-free. We always use the services of local and verified lawyers for our clients.

Necessary steps before registering the contract

Before starting the process of purchasing and registering a property, it is important to take several preparatory steps:

  1. Property selection

    Explore the property market in Northern Cyprus. Consider location, property type, price, terms of sale and outlook for value growth. There are a variety of options to choose from, from city apartments to beachfront villas.

  2. Document verification

    Carefully check all legal documents for the property, including the title deed, privatization documents, and information about previous owners. The reliability and completeness of this information is essential for the security of the transaction.

  3. Preparation of the purchase contract

    The contract should include all the terms of the transaction, such as the price, terms and obligations of both parties. It is recommended to use the services of a lawyer specializing in Northern Cyprus real estate.

  4. Obtaining approval to purchase

    Foreign buyers must obtain approval from the Council of Ministers of Northern Cyprus. This process can take several weeks to months, so it is advisable to start as soon as possible.

    Preparation for registration of the purchase contract

    After completing the selection of the property and verifying its legal integrity, it is time to prepare the documentation for registering the contract.

  5. Document preparation

    For registration, you will need copies of the passports of both the buyer and seller, a purchase contract and any other documents depending on the specific transaction. This stage requires maximum care to avoid mistakes and problems in the future.

  6. Obtaining permission to purchase

    As mentioned, foreigners must obtain approval from the Council of Ministers. As this process can be time-consuming, it is recommended to start it as soon as possible.

    By following these steps and using professional assistance, buying property in North Cyprus becomes a clear and manageable process.

    For new buildings in Northern Cyprus you will pay approximately 17% tax.