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Question: What should I pay attention to when investing in real estate?

Answer: Evaluate factors such as location, depreciation period, development potential in the area, and rental income. Also, don’t forget to get support from a reliable real estate consultant.

Question: What are the factors that determine a house’s value? 

Answer: Location, ease of transportation, building age, social amenities, and market conditions are the fundamental elements that determine a property’s value.

Question: What clauses should be included in a sale or rental agreement?

Answer: The contract should include details such as the parties’ identification information, property specifications, payment terms, penalty clauses, and delivery date.

Question: What taxes are paid when buying a house?

Answer: Title deed fee is paid during the sale. Additionally, you need to pay property tax annually. If you have bought a new house, this tax is usually paid starting from the following year.

Question: What should I pay attention to when renting a house?

Answer: First, carefully read the details of the rental agreement. Check if there is any damage to the property and clarify the deposit terms.

Question: How long do title deed procedures take?

Answer: Title deed procedures are usually completed within 1-2 days if all documents are complete. However, this period may extend during busy periods.

Question: What is an appraisal report and why is it necessary?

Answer: An appraisal report is a document prepared to determine the market value of a property. This report is mandatory especially when applying for a housing loan.

Question: What are the title deed costs?

Answer: Title deed costs include the title deed fee, which is 4% of the sale price, and the revolving fund fee. These costs are usually shared equally between the buyer and seller.

Question: How much down payment should I make?

Answer: In Turkey, typically 20% of the property value is required as down payment. However, banks and project-based campaigns may offer different rates.

Question: How do I apply for a housing loan?

Answer: First, you need to get pre-approval from the bank where you want to take out the loan. Then, you can complete your application with documents such as income statement and identification. The bank evaluates your request and approves the loan based on the appraisal report.

Question: What steps should I follow when buying a house?

Answer: The first step is to find a house within your budget and get support from a professional real estate consultant. Afterwards, the sales contract is prepared, an appraisal report is obtained, and the deed transfer procedures are completed.

Yes, you can buy real estate in Northern Cyprus with a power of attorney that is prepared in accordance with the laws of the TRNC.

From whom can I get a power of attorney?

You can obtain a power of attorney from a lawyer or notary public who is legally authorized in the TRNC.

What should be specified in the power of attorney?

The powers of your attorney must be clearly and explicitly stated in the power of attorney. These powers may include:

Searching for and purchasing real estate
Signing the sales contract
Title deed transactions
Opening a bank account
Tax-related transactions
How long is a power of attorney valid for?

Unless otherwise specified in the power of attorney, it is valid for 5 years.

Can I cancel the power of attorney?

Yes, you can cancel the power of attorney at any time.

What are the advantages of buying with a power of attorney?

Saves time and money: Eliminates the need to travel to Northern Cyprus.
Convenient and easy: All transactions are completed on your behalf with the power of attorney.
Safe and legal: Transactions are secured with a power of attorney prepared in accordance with the laws of the TRNC.

After signing the sales contract, you need to complete the following steps:

1. Stamp Duty Payment:

  • Pay the stamp duty of 0.5% of the contract price to the Tax Office within 21 days.
  • This payment makes the contract legally valid.

2. Registration with the Land Registry:

  • Register the sales contract with the Land Registry within 21 days.
  • This process ensures that your ownership is legally secured.
  • Documents required for registration:
    • Signed sales contract
    • Stamp duty receipt
    • ID documents
    • Land tax

3. Land Tax:

  • Pay the land tax based on the value of the property you purchased to the Land Registry.

4. Additional Documents:

  • The Land Registry may request additional documents.
  • Contact the Land Registry for information.

Things to Consider:

  • Carefully read and understand all terms and conditions before signing the sales contract.
  • Consulting a lawyer is recommended.
  • Do not delay the registration process with the Land Registry.

Not: This information is for general information purposes and does not constitute legal advice. If you have any questions or concerns about the purchase process, you should consult a lawyer.

 
 
 

When buying property in Northern Cyprus, it is important to factor in the following additional costs besides the purchase price:

Title Transfer Fee: The title transfer fee is paid by the buyer of the property. This fee is determined based on the value of the property.

Title Transfer Tax: A tax levied by the Northern Cyprus Land Registry during the title transfer process. The title transfer tax is determined based on the value of the property.

Transfer Fee: If it is the buyer’s first property, a transfer fee of 3% of the discounted property’s sales price is paid. This rate is 6% for those who have previously benefited from the discount.

Value Added Tax (VAT): 5% VAT is paid on the sales price of the property.

Withholding Tax: A tax paid by the seller to the tax office. The rate is 3.5% for non-profit (owner-occupied) sellers and 4% for non-profit (contractor) sellers.

Additional Costs:

  • Legal Fees: It is recommended to seek legal advice from a lawyer during the purchase process. Legal fees vary depending on the lawyer’s experience and services provided.
  • Real Estate Agent Fee: If you are buying a property through a real estate agent, you will also need to pay a real estate commission.
  • Valuation Fee: If you are using a bank loan, the bank will require a property valuation to be carried out. The valuation fee varies depending on the bank.
  • Notary Fee: A notary fee is paid for the notarization of the sales contract and other documents.
  • Duties and Taxes: Various duties and taxes may also be paid during the purchase process.

It is important to research all costs in detail and plan your budget accordingly before buying a property.

When buying real estate, only the buyer’s ID or passport is required. The requirement for additional documents may vary depending on the type and specific situation of the property you are buying.

Some additional documents that may be required in some cases include:

  • Marriage certificate (for married couples)
  • Tax number
  • Proof of residency
  • Bank statement
  • Receipts for payment of land tax and other taxes

It is recommended to consult a lawyer or real estate agent for the complete list of required documents before starting the purchase process.

 
 
 

Non-citizens of the TRNC are allowed to purchase one house or one acre of land per person. For married couples, this right is considered as one person, meaning married couples can buy one house or two acres of land together.

 
 
 
 

There are three main types of title deeds and corresponding real estate types in Cyprus:

1. Turkish Title Deed:

  • Title given to houses, properties, and businesses owned by Turkish Cypriots or foreign nationals before 1974.
  • Considered the safest and most problem-free type of title deed.
  • Banks provide loans for this type of title deed.
  • Sale and transfer transactions are easy.

2. Equivalent Title Deed:

  • Title given by the TRNC government to Turkish Cypriots who had to leave their homes in Southern Cyprus in 1974 in exchange for the properties they left behind.
  • Represents a property in the TRNC given as an equivalent of the property left in the Greek side.
  • Less risky than the Turkish title deed, but also has some disadvantages.
  • Banks may hesitate to provide loans for properties with equivalent title deeds.
  • Sale and transfer transactions are more complex compared to Turkish title deeds.

3. Allocation Title Deed:

  • Title given by the TRNC government to TRNC citizens or those who immigrated from Turkey after 1974.
  • Awarded as a reward for military victory and to encourage settlement in the country.
  • Represents properties built on land allocated by the state.
  • Less valuable than other types of title deeds.
  • Banks do not provide loans for properties with allocation title deeds.
  • Sale and transfer transactions are difficult.

Things to Consider:

  • It is important to carefully examine the type of title deed and the legal status of the property before buying a property.
  • It is recommended to seek legal advice from a lawyer.
  • You need to check all documents related to the title deed and property in detail.

Additional Information:

  • You do not need to be a TRNC citizen to buy real estate in the TRNC.
  • Foreign nationals can buy real estate in the TRNC under certain conditions.
  • Various fees and taxes are paid during the purchase process.

It is important to research all this information in detail and make an informed decision before buying a property.

There are three main types of title deeds and corresponding real estate types in Cyprus:

1. Turkish Title Deed:

  • Title given to houses, properties, and businesses owned by Turkish Cypriots or foreign nationals before 1974.
  • Considered the safest and most problem-free type of title deed.
  • Banks provide loans for this type of title deed.
  • Sale and transfer transactions are easy.

2. Equivalent Title Deed:

  • Title given by the TRNC government to Turkish Cypriots who had to leave their homes in Southern Cyprus in 1974 in exchange for the properties they left behind.
  • Represents a property in the TRNC given as an equivalent of the property left in the Greek side.
  • Less risky than the Turkish title deed, but also has some disadvantages.
  • Banks may hesitate to provide loans for properties with equivalent title deeds.
  • Sale and transfer transactions are more complex compared to Turkish title deeds.

3. Allocation Title Deed:

  • Title given by the TRNC government to TRNC citizens or those who immigrated from Turkey after 1974.
  • Awarded as a reward for military victory and to encourage settlement in the country.
  • Represents properties built on land allocated by the state.
  • Less valuable than other types of title deeds.
  • Banks do not provide loans for properties with allocation title deeds.
  • Sale and transfer transactions are difficult.

Things to Consider:

  • It is important to carefully examine the type of title deed and the legal status of the property before buying a property.
  • It is recommended to seek legal advice from a lawyer.
  • You need to check all documents related to the title deed and property in detail.

Additional Information:

  • You do not need to be a TRNC citizen to buy real estate in the TRNC.
  • Foreign nationals can buy real estate in the TRNC under certain conditions.
  • Various fees and taxes are paid during the purchase process.

It is important to research all this information in detail and make an informed decision before buying a property.

Yes, you can make a remote payment for the property you purchased from our company via bank transfer. You can make the payment directly to No:48 Emlak accounts. Our accounting department will provide you with the account details upon request.

In Northern Cyprus, donum, evlek, foot and meter units are used to measure land and plot areas.

What are the conversion rates between units?

  • 1 Donum = 4 Evlek
  • 1 Donum = 1,338 m²
  • 1 Donum = 14,400 ft²
  • 1 Evlek = 334,5 m²
  • 1 Evlek = 3600 ft²
  • 1 m² = 10,76 ft²

Example:

If the size of a plot is given as 2 donums, you can find the size of the plot in square meters by doing the following operation: 2 donums x 1,338 m²/donum = 2,676 m².

Not

Yes, there are direct flights from Turkey to Northern Cyprus. You can find direct flights to Ercan Airport from many cities in Turkey, such as Istanbul, Ankara, Izmir, Antalya, Adana and Gaziantep. The flight duration varies between 1 hour 30 minutes and 2 hours 30 minutes.

Which airlines operate direct flights to Northern Cyprus?

Many airlines, such as Pegasus Airlines, Turkish Airlines, AnadoluJet and SunExpress, operate direct flights from Turkey to Northern Cyprus.

The benefits of owning property in Northern Cyprus are quite diverse. At the forefront of these benefits is the faster rise in real estate prices compared to interest rates, parallel to political changes. This makes owning property in Northern Cyprus one of the most profitable investment strategies. In Northern Cyprus, regardless of which region you buy a house in, you will find yourself living in an environment where you can reach the airport, magnificent beaches, pine forests, and harbors within just 35 minutes. This is not only a significant advantage in terms of the natural beauty of Northern Cyprus but also in terms of transportation convenience. Additionally, you will be surrounded by the tolerant, helpful, and understanding people of Northern Cyprus. This makes living here an even more enjoyable and peaceful experience.

Yes, foreigners can open a bank account in Northern Cyprus. To do this, you will need the following documents:

  • Passport
  • Proof of residency (such as an electricity bill)
  • Tax number (if you are a resident of Northern Cyprus)

Here are some banks where you can open a bank account in Northern Cyprus:

Turkish Branch Banks:

  • Türkiye İş Bankası
  • T.C. Ziraat Bankası
  • Türkiye Garanti Bankası
  • Türkiye Halk Bankası
  • Türk Ekonomi Bankası

Other Banks:

  • Kıbrıs Vakıflar Bankası (Public Bank)
  • Akfinans Bank
  • AlBank
  • Asbank
  • Capital Bank
  • Creditwest Bank
  • Kıbrıs Faysal İslam Bankası
  • Kıbrıs Türk Kooperatif Merkez Bankası
  • Limasol Türk Kooperatif Bankası
  • Yakın Doğu Bankası
  • Nova Bank
  • Universal Bank
  • İktisat Bankası
  • Şeker Bank

The account opening process may vary from bank to bank, so it is recommended that you contact the bank before applying and confirm the required documents.

Owning property in Northern Cyprus does not give you the right to live there, but if you want to obtain the right to reside, owning property gives you a significant advantage. So, while it doesn’t directly grant a right to residency, owning property can open some doors for you.

For foreign nationals who have no legal issues and can verify their incomes, obtaining a one-year, two-year, or even unlimited residence permit has become a standard procedure. This means they don’t have to renew their residence permit within a certain period. However, they must still open a residence during this period. This allows foreign nationals to have the right to live in Northern Cyprus.

While hiring a local lawyer is not mandatory, as mentioned earlier, it is strongly recommended to prevent potential legal complications and ensure that transactions are conducted properly.

A lawyer will personally oversee transactions at local government offices for a fixed fee. This ensures that legal processes are followed correctly and that documents are filled out and submitted accurately.

Additionally, the lawyer will ensure the legitimacy and authenticity of both yours and the property developer’s Sales Agreement by ensuring that both parties sign it. This process verifies that the contract is fair and valid for both parties.

To become a homeowner, you first need to obtain permission. This typically requires a document or certification issued by the local municipality or relevant government agency. This process may vary depending on local laws and regulations.

Yes, if you want to stay in Northern Cyprus, you need to obtain a visa. Citizens of the United Kingdom and other major European countries are automatically granted a three-month visa upon arrival in the country. This allows tourists or those coming for business trips to comfortably visit Cyprus. If you’re planning a longer-term or permanent stay in Northern Cyprus, you can apply for a residence permit. If your application is accepted, it can be extended beyond the initial three-month period given upon arrival. This is usually preferred in cases where the individual plans to permanently settle in Northern Cyprus. Visa and residence permit procedures can often be complex and time-consuming. Therefore, many people prefer to hire a lawyer to facilitate the process and ensure all details are completed correctly.
The Turkish Lira is the most commonly used currency for economic activities and daily transactions in Northern Cyprus. It is generally accepted by all businesses and services in the region. However, in larger urban areas and especially in tourist areas, other major currencies such as the US Dollar, British Pound, or Euro are also commonly accepted.

Northern Cyprus is home to an impressive array of airports and seaports. Ercan Airport serves flights from Turkey, allowing easy access to this beautiful island country by air. In addition to being centrally located on the island, Ercan Airport provides easy access to many attractions in Northern Cyprus.

Larnaca Airport in South Cyprus is another popular option for travelers wishing to travel to Northern Cyprus. This airport serves as a point where travelers can rent a car or board a shuttle to various destinations across the island.

As for sea travel, there are daily ferry services between Turkey and Northern Cyprus, arriving at the ports of Famagusta and Kyrenia. These ferry services are ideal for those who want to cruise between Turkey’s beautiful coastal towns and Northern Cyprus’s stunning ports. The ferry journey takes about three hours to cover the distance, during which passengers can enjoy the captivating views of the Mediterranean.

Shared taxis or minibusses, locally known as “dolmuş,” are commonly preferred means of transportation in Northern Cyprus. These dolmuş vehicles operate regular routes between major cities in Northern Cyprus, including Kyrenia, Nicosia, and Famagusta. Throughout the day, there is a frequent bus service schedule between these major cities in Cyprus. However, after 7:00 PM and especially on weekends, the frequency of public transportation services decreases. Therefore, if you plan to travel until late at night, we recommend considering an alternative transportation method. Unfortunately, there are no bus services to South Cyprus, so if you plan to travel to this region, you should consider using taxi services or renting a car. Due to limited public transportation to tourist attractions, we strongly recommend renting a car. If you need car rental services, please contact us, and we will be happy to assist you.
In Northern Cyprus, electricity is provided at 240 volts and the three-pronged plugs used are the same as those used in the UK.
Northern Cyprus is known for its long and hot summers, while the winter months are usually short and pleasant. The summer season on the island typically lasts 300 days and temperatures can rise up to 40°C. Perhaps the most noteworthy point is the sea water temperature, which is at an ideal level throughout the year, averaging 16°C in winter months.

Northern Cyprus is three hours ahead of Greenwich Mean Time (GMT + 3).

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