FREQUENTLY ASKED QUESTIONS
What are the advantages of being a landlord in Northern Cyprus?
According to the political developments, housing prices continuously show an increase on interest rates. So it is a profitable investment tool.
In a very nice environment, airport, unique beauty of the beaches, pine forests, ports or wherever you buy your house it will take only thirty-five minutes maximum to arrive to the destination.
You will be living in social media that is tolerant, helpful, understanding.
What are the differences between the deeds found in Cyprus?
In Northern Cyprus deeds have 3 varieties;
Turkish Deeds: The deeds that are belonging to the Turkish Cypriots before 1974.
Equivalent Deeds: These deeds were belonging to Greek origin before the 1974, but after 1974 the Turkish Cypriots who migrated from
the South were given these deeds response to the housing/ land deeds they have left behind.
Allocation Deeds: Before 1974 the cob was owned by a Greek origin, but after 1974 the government hired the housing/land deeds.
How do you follow up your construction control?
Until the completion of construction, professional engineers and officials, check the construction regularly in terms of labor and materials.
At the end of construction Electricity Authority of Civil Government and Related Accidents receives final approval.
What should be done for the deeds transfer?
When the buyers and sellers fulfill their obligations in the contract of sale, the seller will go to the District Lands Office in their area and will transfer the property to the buyer.
What are the procedures for deeds transfer if the buyer is a foreigner?
If the buyer is from a different Nationality and is not a Turkish Cypriot citizen and wants to buy a house for the Turkish Republic of Northern Cyprus will have to get permission from the Turkish Cypriot authorities or from the council of ministers.
If the permission will run late; the buyer can give mortgage to the company name of the recipient or can go to the land registry office and get a contract signed saying that the house will not be allowed to be transferred to a 3rd person.
What are the taxes and Fees while buying a residence?
When you are going to buy a residence or house in North Cyprus you are required to pay state taxes and fees. The 5% of payment is for KDV (Value-added tax) during delivery of home, and 625% and 6% for withholding and transfer tax fees will be deducted.