What are the conditions for buying house on Northern Cyprus?

North Cyprus means a wonderful holiday wherever you are in the world. Those who are vacationing on the island of North Cyprus think that they should buy a house on North Cyprus. Furthermore, North Cyprus has opened its doors to investors in recent years.

Attractive opportunities are offered for foreign investors in both commercial and touristic terms. You may have seen the North Cyprus house advertisements and effect of their low price. That’s why who intend to buy a house in North Cyprus, we have listed the conditions for buying a house in North Cyprus:

  1. All foreigners can buy only 1 real estate on North Cyprus
  2. In order to buy more than one real estate, it is necessary to have an international capital company.
  3. It is mandatory to obtain a real estate permit from the Turkish Republic of Northern Cyprus state to buy a property.
  4. The stamp fee, which is %0,5 over the contract price, must be paid to the tax office within 21 days after the contract is signed.
  5. The transfer of real estate title deeds is approved by the Council of Ministers.
  6. It must be registered at the Land Registry Office within 21 days after the contract is signed.
  7. Buyer must have passport when buying real estate.
  8. Deed transfer fee, VAT and withholding tax are paid by the buyer.
  9. Married couples can buy two real estate separately.
  10. There should be no mortgage or other legal problem on the real estate.
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