What is the process of buying real estate in Northern Cyprus?
The purchase of real estate by non-TRNC citizens is subject to permission and certain restrictions. Section 9 of the Law No. 52/2008 on the Acquisition of Real Estate and Long-Term Leases by Foreigners states that foreign natural or legal persons can acquire immovable property in the Turkish Republic of Northern Cyprus on the condition that they obtain a purchase permit from the Council of Ministers. Pursuant to this law, the quota per person is one (1) immovable property (house or flat not exceeding 5 donums or land not exceeding 1 donum). The transfer process in Northern Cyprus consists of 5 steps:
- Preliminary exchange of contracts.
- The actual exchange of contracts.
- Stamping and registration of contracts.
- Application for a purchase authorization.
- Transfer of title.
Once you have made your decision, it is transferred to the contract stage. Our contracts can be prepared through our lawyers in English, Turkish, Russian and other languages. If you have limited time, you can authorize your lawyer to act on your behalf. Your lawyer will follow up and process the transaction with your approval.
Every title deed in Northern Cyprus is issued by the Land RegistryTurkish Office (Tapu Dairesi) of the Republic of Northern Cyprus and is guaranteed by the TRNC constitution. Although a single type of title deed called 'TRNC property' is issued by the TRNC.
What is donum, what is evlek?
Donum, evlek and square feet (ft2) measurement units are frequently encountered in land/land purchases and sales in the TRNC. 1 Donum = 4 Evleks = 14.400 square foot = 1.338 m2. 1 Evlek = 3600 square foot = 334.5 m2. 1 m2 = 10.76 square foot.
How many properties can foreign nationals buy?
- A foreign national can purchase up to 1 (one) donum (14,400 square feet or 1,338 square meters) of land, provided that the land is vacant.
- If there is a house in the land to be purchased, they can buy up to 5 (five) donums of land, provided that there is only one property on the land.
- A foreign national has only one right to buy a property in a vacant detached land, a detached land with a residence or a site-style settlement, and does not have the right to build or buy another property.
- A foreign buyer may transfer, sell or mortgage to another foreign buyer the property registered in his/her name or lease, to persons with first and second degree blood and kinship ties, by obtaining the Ministry's knowledge and approval after investigations.
You have the right to own only 1 property in Cyprus.
Although there is a requirement to own 1 property, each member of the family can buy real estate in their own name.
Citizens who own a company in Cyprus can own multple properties. You can contact our lawyers for detailed information and solutions.
Can I own investment property without residing in Cyprus?
Yes. Northern Cyprus is one of the countries that has come to the forefront with its real estate investment advantages in recent years. It attracts the attention of real estate investors because it offers affordable real estate and provides high returns on investment. Home to many universities, TRNC holds the pulse of academic education and is also an important tourism center with its unique beaches. The TRNC, which stands out in the education and tourism sectors, also provides lucrative opportunities for real estate investors. It is one of the most preferred countries for real estate investment in recent years.