FAQ

• 01What are the additional costs when purchasing real estate?

  • 5% VAT on the value of the property.
  • £1500-3000 infrastructure connection. Transformer charge. The cost depends on the specific property you choose.
  • Water connection fee – about 1200 Turkish Lira (cost varies slightly depending on the area) and electricity (465 Turkish Lira – deposit to the electricity company and 75 British pounds – cost of the electric meter).
  • 12% title deed tax
  • 6% payable upon registration of the contract
  • 6% payable after obtaining the permit and after completion of construction. This is not a compulsory payment, payable at will if you wish to obtain Title
  • Payment of Stamp Duty – 0.5% of the value of the property stated in the contract. You can pay it at once, or you can pay it together with the first payment

• 02Is it possible to reserve the property I like?

  • Yes. A deposit of 1500-5000 GBP (depending on the property selected and the period for which the deposit is payable) is required to make a reservation.
  • Payment can be made in any currency you prefer $,€,£ and the amount paid is subsequently deducted from the total contract price.

• 03Is it possible to make a deal with a lawyer and how much does it cost?

  • The services of a lawyer will cost between 1500-3000 British pounds. He can help you with drafting a contract for the purchase of real estate, checking all legal issues related to the legality of construction and ownership, execution of powers of attorney and contract, registration of the contract at the Tax Office and the Land Registry, control of financial settlements between the buyer and seller for the purchased property, as well as the transfer of the title in your name. Important clarification – it is not necessary to have a lawyer, it is a matter of your desire.

• 04How to apply for a residence permit?

  • We provide our clients with full support, consultations and also help them to apply for a residence permit free of charge! This document is valid for one year, after which it can be re-issued.
  • The following documents are required to obtain a residence permit:
  • Contract of purchase of real estate
  • Copy of your passport
  • Certificate of residence from the mukhtar (local headman).
  • If you are married, a marriage certificate translated into Turkish and notarized.
  • Copies of children’s passports (up to 18 years old)
  • 2 passport photos
  • Document from the Ministry of Internal Affairs with a registration number, for a permit to purchase real estate for a foreign citizen
  • Certificate of no criminal record, translated into Turkish and certified by a notary public
  • Statement from a local bank, with the current minimum amount on the account

• 05What opportunities does a residence permit provide in Northern Cyprus?

  • To reside in the territory of the TRNC during the whole period of validity of the residence permit without leaving the country
  • Get medical insurance
    Educate children in free kindergartens and schools
  • Open a bank account
  • Together with the owner of real estate in North Cyprus the right to obtain a residence permit and his family members receive the right to obtain a residence permit
  • If you do not plan to live in North Cyprus, and are considering only an option for investment, in this case the registration of a residence permit is not necessary, as you can stay on the island up to 90/90 days on a tourist visa.

• 06Is it possible to organize an online viewing of the property?

  • It is very important for us that you have the opportunity to fully appreciate the object you like. That is why we have all the necessary equipment, so that you can get the most realistic picture and get the effect of presence from the presentation even without being on the island.

• 07Is property management possible only through a management company?

  • Everything depends on your wishes. If you want to buy an object for living and independent management – we will find you just such an object. There are also many options that can be transferred to the work of the MC. Some developers and management companies even tell their clients the guaranteed profitability of the objects given to them for management and fix this information in the contract.