What documents are required when purchasing property?

Your valid passport is the only document required to purchase a property.

How long does the purchase process take?

On average, the time span from seeing the property, paying the deposit of 5% (to secure the property you selected) to purchase is 2-5 working days.

How many properties can an individual purchase?

Basing on the contract of purchase, a foreign citizen can purchase unlimited number of properties.

Taxes to Pay during Your Purchase:

During your purchase, you will also be countable to pay for Stamp Duty and VAT
these are detailed below:
- Stamp Duty – This is assessed on the contract price of the property and is currently 0.5%, this is payable on or before signing of the contract.
- VAT (KDV) – This is assessed on the contract price of the property and is currently 5%, this is payable upon possession of the property.
- Capital gains tax (Turkish-Stopaj) – It is usually payable by the Vendor when you buy property, therefore, you will be paying capital gains tax when you sell your property. The amount payable depends on whether the Vendor is a Professional Vendor or a private individual. If the Vendor is a Professional Vendor, the rate will be 6%. Otherwise, the rate will be 3%.

How to Register Purchased Property:

Purchased property shall be registered by the Land Office within 21 days after signing the contract of purchase. Registration of your real estate in your name is handled by one of our employees who are processing your transaction.

Visitor Visa

A visitor visa is given to you on your arrival into the TRNC and it allows you to stay in the TRNC as a tourist for normally 30-90 days. If you wish to remain within the TRNC longer than the duration of a tourist visa you must apply for a temporary residence permit; renewable every year. Children under 18 years old do not need a permit. Therefore, families moving to the TRNC only have to obtain a temporary residence permit for adult family members only.