Property Purchasing Process in North Cyprus

When acquiring property in North Cyprus, there are several essential steps to follow:

• Reservation agreement and payment : after selecting a property, you enter into a reservation agreement and make a deposit to reserve the property. The reservation amount ranging from £3000 to £10000, this deposit is nonrefundable
• Legal verification (Due Diligence): a lawyer will perform thorough checks, including verifying the property's title deeds, ensuring there are no outstanding debts, confirming planning permissions, and verifying the seller's legal ownership.
• Signing the sales contract : once you make a substantial initial payment (usually between 30% to 50% of the total price for off-plan properties and up to 90% for ready to move properties), a formal sales contract is signed by both the buyer and the seller.
• Stamp duty and registration of the contract: following the signing of the sales contract, stamp duty tax is payable to the tax office. The contract must also be registered with the district lands office within 21 days of signing to protect the buyer’s legal interests in the property.
• Obtaining purchase permission: if you are a non-citizen, you are required to obtain a purchase permit from the council of ministers. This step includes security checks and can take several months, typically ranging from 6 to 12 months.
• Transfer of title deeds : after receiving the purchase permit and completing all payments for the property and the required taxes, the process for transferring the title deeds begins.
• Registration of title deeds: the final step involves registering the title deeds in your name, which marks the completion of the property purchase process