Steps to buy property in North Cyprus

Steps to buy property in North Cyprus

Due to profitability and reasonable prices, buying real estate in North Cyprus has become the first option for investors. If you are also interested in investing abroad, definitely investing in North Cyprus can be a suitable and profitable option for you!

Focusing on attracting foreign investment and tourism, Northern Cyprus has long become a destination for many investors from around the world. Although Northern Cyprus is less wealthy than Southern Cyprus due to its independence and dependence on Turkey, but with good economic growth in recent years, all regions of Northern Cyprus have made significant progress in infrastructure.

This has caused many investors to buy apartments and properties in North Cyprus in the past years. The interesting thing is that by buying real estate in North Cyprus, you can get temporary residence for yourself and your family, which is one of the best advantages of buying real estate in North Cyprus.

Steps to buy property in North Cyprus

Northern Cyprus, with its recent developments, has become one of the attractive real estate investment centers for investors in the Middle East region. With its unique features and economic advantages, this area offers an ideal location for buying and investing in real estate:

Economic potential: Due to the continuous economic growth in Cyprus, the value of real estate assets in this area has seen a significant increase. This has made investing in real estate a profitable opportunity.

Favorable infrastructure: Northern Cyprus provides the necessary facilities for a comfortable and desirable life by benefiting from advanced tourist infrastructure and modern amenities.

Easy purchase process: Buying property in North Cyprus for foreigners is accompanied by simple and understandable processes, which facilitates transactions.

Next, we should mention that one of our services in North Cyprus is the company registration service in North Cyprus! You can get more information by visiting our North Cyprus company registration services page!

Steps to buy property in North Cyprus

Advantages of investing in North Cyprus real estate:

Capital appreciation in the long term
Make money by renting out real estate
Facilitating immigration to European countries
Educational opportunities for children in prestigious European universities
Enjoy your vacation in the spectacular and beautiful scenery of Northern Cyprus
Advantages of buying property in North Cyprus

In Northern Cyprus, investing in the real estate sector brings significant benefits, which are facilitated by the government of the region. Offering cash and installment purchase options, and the ability to buy with as little as 30% down payment, investors can easily own a property.

Key benefits of owning property in North Cyprus:

Rental income: the opportunity to earn income from property rental during vacations and peak tourism periods.
Emigration Facilitation: Having a property in North Cyprus can act as an advantage in the process of immigrating to Europe.
Educational benefits: the possibility of children benefiting from affordable tuition fees in Cyprus universities.
The ideal holiday experience: using North Cyprus’ leisure facilities to spend time with family and friends.

The process of buying real estate in North Cyprus

Buying property in North Cyprus is not that complicated. With a certificate of no bad background and a passport, you can buy and invest in real estate in this country. According to Northern Cyprus laws, any foreigner who buys an apartment or property or pays at least one third of the total value of the property can obtain temporary residency in Northern Cyprus.

Steps to buy property in North Cyprus

Any foreigner can generally purchase one of the following:

An apartment unit or suite
A villa unit
A piece of land with a maximum area of ​​1338 square meters

If you intend to buy a property worth more than this amount, you will have to pay half a percent of the property’s value as tax, and an explanation will be added to the document indicating that this property can only be traded by the buyer at the Northern Cyprus Land Registry. .

Considering that Northern Cyprus is known as a top region for living, staying and investing, issues such as buying real estate in Northern Cyprus, buying a house in Northern Cyprus and acquiring an apartment in Northern Cyprus have become very attractive for Iranians. However, in order to buy property in North Cyprus, we must be familiar with the conditions of purchase in this area.

To reside in Northern Cyprus by purchasing property, one must purchase a house or apartment worth at least $125,000. Also, at the time of signing the contract, you must pay at least one-third of the cost of the property.
In North Cyprus, you must first specify the type of property you want (such as apartment, villa, etc.) and then search for related information such as size, facilities and price. Then apply for a personal visit to the property; If you like the property, negotiate with the owner to agree on the price.

Also, another service of Zahourian Investment Company is investment services in North Cyprus, and if you are looking for investment in North Cyprus, the investment company will undoubtedly be an attractive choice for you! You can get more information about these services by visiting our investment services page!

To buy a property in North Cyprus, after determining and confirming the price and conditions, a set of documents must be prepared and presented. Here is a list of documents required to complete the purchase process:

Passport: providing the original and full copy of the buyer’s passport.
Birth certificate: presentation of the birth certificate of the buyer and his family members.
Ownership document: If you have another property in North Cyprus, it is necessary to present the ownership document.
Sales contracts: If you have previously sold a property in North Cyprus, original and copies of sales contracts are required.
Rental contracts: If you are currently renting, it is necessary to provide the original and copy of the rental contracts.
Certificate of no criminal record: Providing a certificate of no criminal record to prove the record is clean.
Marriage certificate: For married people, an official translation of the marriage certificate is required.
Stamps: preparation and presentation of 6 stamps in Turkish for administrative procedures.

Steps to buy property in North Cyprus

The general process of getting a price and buying a house in North Cyprus includes the following steps:

1. Property selection: Choose the desired property based on your goals, conditions, and available budget.

2. Property reservation: After receiving the ticket and arranging the stay in Cyprus, reserve the desired property.

3. Signing the contract: In Cyprus, sign the property contract and pay the first installment.

4. Handing over the key: For ready projects, hand over the key to the property.

5. Payment of the first installment: usually pay 30% of the total value of the property as the first installment.

6. Tax payment: along with the first installment, pay about 5.5% tax including 0.5% for property registration (Stamp Duty) and 5% value added tax (VAT) for connecting water and electricity branches.

7. Content of the contract: The contract should include details such as property price, project completion time, installment payment schedule, property and builder specifications, ownership amount, buyer specifications, government license, seal and tracking code, late fines, and official translation of the certificate of no bad history. .

8. Payment of the remaining installments: After the end of the installment payment, pay 3% tax on the property price to the Northern Cyprus government, which will start the process of transferring the deed to the buyer’s name and after 6 months, the final deed to the buyer’s name. will be issued.