Frequently Asked Questions
Can I buy real estate before I come to Northern Cyprus?
Yes, you can buy real estate with a power of attorney under the legislation of the TRNC.
How can foreign nationals buy real estate in Northern Cyprus?
After deciding which property to buy, the buyer and the seller sign the sales contract, which explicitly indicates the sales price, payment and delivery conditions, and details of the real estate.
Please note that foreign nationals must obtain a “Real Estate Purchase Permit” from the TRNC State to buy real estate in Northern Cyprus. This process generally lasts for 3 to 6 months.
What do I need to do after signing the sales contract?
After signing the contract, the Stamp Fee, which is 0.5% over the Contract Price according to the current law, must be paid to the Tax Office within 21 days from signing the sales contract to become financially legal.
In addition, the buyer registers the contract with the Land Registry Office within 21 days from signing the sales contract, stating that third parties will not own the sold real estate in any way, and the property right becomes legal.
What are the rights of foreign nationals to buy land or property?
Foreign nationals can buy one house or a maximum of one-tenth of a hectare of land per person from Northern Cyprus. The law considers married couples as one person.
What documents are required when buying real estate?
Only the buyer’s ID or passport is needed when purchasing real estate.
What are the other additional costs while buying a property in the TRNC?
The buyer is obliged to pay the “Deed Transfer Fee” of the real estate purchased. Title Deed Transfer Fee is paid to the Northern Cyprus Land Registry Office when the seller transfers the title deed to the buyer.
If the buyer has bought real estate for the first time, the transfer fee is 3% of the real estate sales price. This rate is 6% for all individuals who have used the discount before.
In addition, the buyer pays the VAT amount, which is 5% of the sales value of the real estate. On the other hand, the seller pays the Withholding Tax, which is 4% for for-profit sellers (contractor) and is 3.5% for non-profit (for sale from the owner) sellers.
What are the Types of Real Estate/Title deeds in TRNC?
There are three types of real estate/title deeds in TRNC. Namely;
Turkish Title: It is the type of title given for residences, land, and workplaces owned by Turkish Cypriots or foreign nationals before 1974.
Equivalent Title: In 1974, the Turkish Cypriots, who had to leave their real estate in South Cyprus and migrate to Northern Cyprus, were given real estate equivalent to the property they owned in South Cyprus by the TRNC state. Turkish Cypriots, who bought equivalent real estate, signed documents stating that they renounced their lands in South Cyprus and obtained their “equivalent” real estate titles from the TRNC state. Real estate with equivalent titles is considered safe, and it can be bought or sold by foreign nationals or Turkish Cypriots.
Tahsis Title: These are the real estate titles given to TRNC citizens as a reward for the success shown in the war and to people who came from Turkey after 1974 to settle in the country and continue their lives by the TRNC state. These titles are under the guarantee of the TRNC state, and their owners have full ownership rights over the real estate.
What is the title deed fee, and who pays?
Title Deed Fee: It is a fee calculated as 4% of the sales price declared in the title deed for all real estate sold, such as housing, workplace, land, field, land, etc.
Who Pays the Title Deed Fee?: 2% of the real estate sale price is taken separately from the seller and the buyer by the decision of the Council of Ministers.
What are the area measurement units used in Northern Cyprus?
In Northern Cyprus, land and plot area measurements are; decare, evlek, foot, and meter units.
1 Decare = 4 Evlek = 14.400 ft2 = 1.338 m2
1 Evlek = 3600 ft2 = 334.5 m2
1 m2 = 10.76 ft2
If I buy land, can you help me with design and construction?
Yes, in addition to build-and-sell projects, Yırtıcı Construction also carries out special assignments. Our company can manage and monitor all processes from land acquisition to turnkey delivery, including building landscape and interior architecture, with its purchasing department, technical team, and solution partners.
Can we make our payments online?
Yes, you can make payments for the property you purchased from our company directly to Yırtıcı Construction accounts by bank transfer. Our accounting department will provide the account information upon request. With an automatic payment order, you can pay the electricity and telephone bills of the real estate you have purchased to the relevant institution accounts. For water, you can pay the municipality in advance. If there is a maintenance fee for the purchased property, you need to contact the site management for payments.
Can foreign nationals open a bank account in Northern Cyprus?
Yes, they can. Turkish branch banks in Northern Cyprus are; Türkiye İş Bank, T.C. Ziraat Bank, Türkiye Garanti Bank, Türkiye Halk Bank, Türkiye Ekonomi Bank.
The public bank in Northern Cyprus is Vakıflar Bank. On the other hand, some private banks in Northern Cyprus are Akfinans Bank, AlBank, Asbank, Capital Bank, Creditwest Bank, Cyprus Faisal Islamic Bank, Cyprus Turkish Cooperative Central Bank, Limassol Turkish Cooperative, Near East Bank, Nova Bank, Türk Bank, Universal Bank, İktisat Bank, and Şeker Bank.
How long are Turkish citizens or Foreign nationals given a residence permit?
Owning real estate in Northern Cyprus does not directly grant the right to reside, but it is an advantage to have real estate for those who want to get the privilege of residence.
If the people who own real estate do not have legal problems and can prove their income, they first get a residence permit for one year, then it is a normal process for them to obtain a residence permit for two years and then unlimited. Foreign nationals do not need a residence or work permit or a particular entry and exit to Northern Cyprus to purchase real estate in Northern Cyprus.
Can I rent the property I purchased from Yırtıcı Construction?
It is possible to rent real estate purchased by foreign nationals (Turkish citizens and other citizens) to generate income.
You can contact our company for more information by calling +90 548 844 90 60
Is a visa required to live in Northern Cyprus?
Yes, Northern Cyprus requires a visa for residency status. Individuals from the UK and other major European countries automatically receive a 3-month visa on arrival. If you have successfully applied for a residence permit (meaning that you plan to settle permanently), TRNC state may grant an extension of this period.
Typically, many people choose to hire a lawyer, as the visa process can be long and tiring.
How do I guarantee the validity and legality of financial and government transactions?
Hiring an attorney is not required but highly recommended. An attorney will personally monitor the proceedings at local government offices for a general fee. In addition, the attorney ensures the legality and authenticity of the Sale Contract that you and the seller sign.
What is the main currency used in Northern Cyprus?
The main currency used in Northern Cyprus is the Turkish Lira. Other major currencies such as the US Dollar, British Pound or Euro are accepted by shops, restaurants, etc., in major urban areas.
What is the Cyprus time zone?
Time in Cyprus is given by Eastern European Time (EET) (UTC+02:00) , Eastern European Summer Time (EEST) (UTC+03:00) during the summer.
What are the existing airports and seaports in Northern Cyprus?
You can easily reach Northern Cyprus by flights from Europe, the US, and the UK via Turkey to Ercan Airport in Northern Cyprus. There are daily ferry services from Turkey to the ports of Famagusta and Kyrenia. There are also direct flights to Larnaca and Baf airports in South Cyprus, where you can rent a car or take a taxi and easily transition to Northern Cyprus.
Is there a direct flight to Northern Cyprus?
Currently, all flights to Northern Cyprus operate via Turkey. There are also direct flights to Larnaca and Baf airports in South Cyprus, where you can rent a car or take a taxi and easily transition to Northern Cyprus.
What is the electrical voltage in Northern Cyprus?
Electricity is 240 Volt, and the plugs are three-pin plugs as in the UK.
How is the transportation in Northern Cyprus?
The most common mode of transportation in Northern Cyprus is taxis. Also, there are frequent bus services between the big cities of Northern Cyprus; Kyrenia-Nicosia, Girne-Famagusta, and Famagusta-Nicosia.
What type of climate does Cyprus have?
The climate of Cyprus is a typical Mediterranean climate. Summers are long and semi-arid, and winters are short, warm, and rainy. The annual average temperature of Northern Cyprus is 19.0 °C. The hottest month throughout the year is usually July; the air temperature is between 37.0°C – 40.0°C during the daytime (in the shade). The coldest month is usually January, and the daytime air temperature is between 9.0°C – 12.0°C.
What is the official language of Northern Cyprus?
The official language of Northern Cyprus is Turkish. However, the majority have a good command of English.
Can I arrange a visit?
We’d be happy!. Contact us at +90 548 844 90 60 to arrange a date convenient for you.