FAQ

Yes. It can be obtained with a power of attorney issued in accordance with the legislation of Northern Cyprus.

In order for the foreign citizen to acquire the immovable property on his behalf, it is necessary to apply to the Council of Ministers to obtain a purchase permit. (It results in 1-2 months for Turkish citizens and 6-8 months for other people.)

Citizens of Northern Cyprus do not have a real estate purchase limit. and Foreign nationals have the right to purchase 1 property per person in TRNC. 1 land or 1 flat or 1 decare of land or 1 plot of land are all classified as “1”. Its financial value is not important. Married couples are considered as 1 person. If the names of married couples are different, they are not counted as one.

Yes, it is changing. There is an annual real estate tax in the houses and a real estate tax and a business tax in the workplace.

a. Withholding tax: It is paid by the seller to the tax office during the title deed transfer, although it is 3.5% in cases where it is non-profit, 2.8% withholding is paid in the current practice. Note: One-time withholding tax exemption is applied to each person for a plot and a residence. In case of profit, although withholding tax is 6.25%, it is paid at 4% during the transfer. b. Value Added Tax (VAT): For VAT cases, the VAT rate is 5%, the seller is paid by the buyer to the tax office before the transfer by the seller. In cases where the seller is not profitable, there is no VAT for individual sales. c. Deed Transfer Fee: Paid by the buyer to the title deed office during the transfer. Although the title fee is 6%, it is applied once for a plot and a residence as 3%. Different taxes are applied in transfers through grants: Grant from parents to child 0.2% from spouse to spouse 0.4% from grandfather to granddaughter 0.4% + withholding tax. D. Stamp Stamp: Within 21 days after the two parties sign the sales contract, the buyer receives 0.5% postage fee to the tax office and the contract is registered in the Land Registry Office, thus the property right of the buyer is taken under guarantee.

Yes, if your real estate is suitable for the loan, you can get a loan at the rates determined by the Expert value by the bank. Giving what you get with a mortgage real estate your country can get credit on your income statement.

Land Registry Fee: Housing, workplace, land, field, land etc. It is a fee calculated as 4% of the sales price declared in the title deed for all properties sold. Who Pays the Deed Fee: Upon the decision of the Council of Ministers, 20 (2%) of the real estate is taken from the seller and the buyer separately.

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