Inheritance of movable and immovable property of foreign citizens on the territory of Northern Cyprus is subject to the laws of TRNC. This means that a will and testament that is drawn up in other countries, is not valid with respect to your property in North Cyprus. To bequeath property located in North Cyprus requires drawing of the will in Northern Cyprus. The correct solution in this case would be to make one will in Northern Cyprus to secure the property located here, and another one at the place of permanent residence. Lawyers of Northern Cyprus will explain the fundamentals and provide legal support during the design of the will.
If the property owner did not leave a will in North Cyprus, the heir will be forced to follow the laws of the TRNC in order to receive the full ownership of the movable or immovable property. And despite the fact that the legislation concerning probate property in many countries is quite similar, in the TRNC there are some differences in the distribution of property to the heirs.
Thus, a will for property located in North Cyprus, shall be executed according to the rules and laws of Northern Cyprus. In the case of absence of the will in Northern Cyprus, inheritance issues will be addressed in accordance with the laws of the TRNC .
A citizen of the TRNC or a foreigner, who is of sound mind and reached the age of 18, in accordance with the Law of Will and Inheritance of the TRNC can leave a will.
In North Cyprus there are two ways to obtain the inheritance, either by will, or, if such was not made, by the law.
That is, if there is no will, the deceased's estate is divided between the legal heirs according to certain rules, namely the sixth part of the estate goes to the spouse, and 5/6 - to children. If the owner wants to dispose of the property differently, it is necessary to leave a will, reflecting owner’s desire.
Will must be made in writing and certified by the authorized legal entity. As in most countries, a will in Cyprus can be left unlimited number of times, with each new will annulling the existence of the former.
If you own movable or immovable property in North Cyprus, we recommend making a will in North Cyprus. Owners of property in North Cyprus should be aware that under the will, you can bequeath only 1/3 of all the property, the remaining two thirds will be distributed in accordance with the TRNC’s laws. And the laws of Northern Cyprus state that 2/3 of the property will be distributed to your spouse and children.
The will is a legal declaration in writing that allows the testator to determine exactly how the inheritance will be distributed in case of decease.
The process of obtaining a will
The will in Northern Cyprus is drawn up by the lawyer. The lawyer of choice can be notified of the distribution of inheritance in person or e-mail. When the lawyer prepared the will, it will be signed by person in question as well as two witnesses. The price of making a will in Northern Cyprus is 200 GBP.
Taxation of the will
Property under 100 000 pounds sterling is not subject to taxation, the property over 100,000 is taxed at 1%. The process of transferring the property to the heir in North Cyprus takes up to 6 months if the will was made. If however there was no will lef, and the movable and immovable property is being transferred by law in Northern Cyprus, the process can take longer time, as the heirs and all rightful claimants need to be identified.
