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FAQ Section

Property Law FAQs
1. What are the required steps to buy an immovable property as a foreign national in North Cyprus?

1- Find the property – Sign an Agreement 2-Get the Agreement Stamped 3- Register the Agreement at the Land Registry 4- Apply for your Permission to Purchase (PTP) 5- If PTP Granted, get the title deed of the property into your name 6- If PTP rejected, set up a limited company or appoint a trustee (Please ask us for more detailed advice on trusts and companies)

2. Is there any limitations on buying immovable property?

Yes, foreign nationals can only buy one immovable property in North Cyprus

3. Can my spouse and I purchase one property each?

No. Husband and wife are counted as one household and the current property restrictions are one property per household.

4. Do I need to wait for my purchase permission before I can move into my property?

No. Once your property is complete, you will be able to take possession of your property and move in. Once the contracts are exchanged between the parties and registered at the Land Registry you will then be the contractual owner of the property. Registering the contract ensures that you are protected from the property being sold or transferred to a third party and from any subsequent liens being placed on the property.

5. Can I sell my property before I obtain my purchase permission?

This depends on the terms of your contract of sale. We will however always try to negotiate with the vendor to insert a clause allowing you to sell the property before taking title. We would then prepare an assignment of contract to be signed between you, the vendor and the new purchasers assigning all of your rights and obligations under the contract to the new purchasers.

6. What taxes are payable on the purchase and when are these payable?

Taxes, apart from stamp duty, are usually payable right at the end of the transaction after your purchase permit has been granted and the title deeds are being transferred into your name. However, some vendors require VAT to be paid on the sale price at the date of delivery of possession of the property.The rates of tax are as follows:

Land Registry Transfer Fee – 6%. However, every person has a once in a lifetime exemption right to reduce this tax to 3%. If you decide to use your option right, you will pay 3%.

VAT – 5%

Stamp Duty – 0.5%

Employment Law FAQs
1. I am European Union citizen. Can I work in North Cyprus without work permit?

No. European Union citizens still have to follow the residency procedure in the same way as other nationals. There is no automatic right to reside and work in the TRNC for EU citizens.

2. I have the residency permit. Can I apply for job in North Cyprus?

No. It is important to note that the residency permit only entitles you to live in the TRNC. It does not entitle you to work or to set up a business in the TRNC. To do these things you will need either a work permit or a permit to set up a business.