Buying a HOUSING IN NORTHERN CYPRUS gives foreign citizens the right to full ownership of real estate, to sell, rent, inherit, etc. The specialists of our company will provide step-by-step instructions and guide the buyer through the entire process of buying a home in Cyprus. It will be simple for you, regardless of whether the property is purchased on the secondary market or it is a new building, in installments or with a long credit plan.
The key point is the right choice of real estate in Northern Cyprus, which
complies with the purpose of the purchase and all legal regulations of the TRNC. Regardless of the size of the property you choose - a studio, apartment or villa, or the type - a new home from a developer or an offer of resale properties, the first task is to agree on the cost, payment terms, the availability of a mortgage on the property, and other possible specifications included in the price. such as - furniture, electrical appliances, ...
By filling out the reservation form and leaving a deposit for it, which, as a rule, does not exceed 3000 - 5000 British pounds, you reserve the selected property, and thus it is removed from the sale.All contracts for real estate transactions in Northern Cyprus can be executed both for one person and for several, related or unrelated.
A lawyer representing your interests in Northern Cyprus is engaged in checking the legality and eligibility of the transaction, signing and registering the contract, paying all taxes and payments. The contract is provided in several languages (English, Turkish or Russian). The cost of lawyer services is 1400-1800 British pounds sterling, for some lawyers this amount includes the preparation of a will in Northern Cyprus.
Alliance-Estate will offer you a number of distinguished lawyers in Cyprus who will be happy to provide you with free consultations and answer your questions regarding real estate in Cyprus. All lawyers have Russian-speaking lawyers on staff to assist in working with foreign buyers.
note: At the time of arrival for the inspection tour, property buyers usually leave a notarized general power of attorney for one of the lawyers practicing in North Cyprus, thereby giving him legal authority to continue the purchase on your behalf. If there is a general power of attorney, the presence of the buyer in Northern Cyprus is not necessary to complete the transaction, and familiarization with the preliminary contract, making amendments, and changes, if any, is possible using the Internet or by mail.
Payment for real estate, in accordance with the payments specified in the contract, can be made through a bank transfer (on presentation of an invoice from a lawyer), by card or in cash.
The buyer takes possession of the property (receives the keys) in accordance with the terms of the contract. Usually, at the time of receiving the keys, VAT is paid - 5% of the value of the property under the contract, as well as a fee for connection and water.
note: payment of one-time taxes and expenses, such as VAT and fees for electricity and water connections, occurs only when buying a new home in Northern Cyprus. When buying a resale property, all one-time taxes and expenses do not need to be paid.
To translate the Titles (full ownership of real estate) to the buyer / pits under the contract, it is necessary to provide the original certificate of good conduct with a notarized translation into English or Turkish, which can be obtained at the place of residence.
On behalf of the buyer/her property, the lawyer submits a petition to the Ministry of Internal Affairs of the TRNC for permission to transfer titles to the name of the buyer/her. When transferring titles, the buyer pays a 12% tax and receives full ownership of the property (land).