How to stay in North Cyprus by buying a property?

Northern Cyprus is known as an attractive destination for immigration and investment. This country, which has attracted a lot of attention due to its favorable climatic conditions, low cost of living and high quality education system, has become one of the popular destinations for educational, work and investment migration. In recent years, a large number of Iranians have immigrated to this country due to favorable economic and social conditions. There are several ways to immigrate to North Cyprus, among which buying a property is one of the easiest and most cost-effective ways. This article will take a closer look at this method and its legal procedures and benefits, such as North Cyprus residency.

How to stay in North Cyprus by buying a property?

Immigrate to Northern Cyprus through property purchase

Buying a property in North Cyprus is known as one of the easiest and fastest ways to obtain residency. This method has attracted a lot of attention due to relatively low property costs in this country and suitable financial facilities, including interest-free or low-interest bank loans. By buying a property in North Cyprus, you can not only get a residence, but you can also benefit from this investment as an economic opportunity.

To buy property and obtain residence, you must first find a suitable property and sign the purchase contract. This contract must be registered in the notary and translated into the necessary languages. Then, the process of paying the property fee and stamp duty is done and finally the title deed is issued in the name of the buyer. To complete this process, it is necessary to submit documents such as a certificate of no criminal history, a medical and health certificate, a copy and original of a passport, a bank statement, a lease or house ownership document, and in case of marriage, a marriage certificate.

Also, by reading our article about the process of buying a property in North Cyprus, you can get more information about the process of buying a property in North Cyprus!

Study stay in North Cyprus

Another way to immigrate to North Cyprus is to study. The universities and educational institutions of this country are of high quality and the educational certificates issued by them are recognized as valid in many countries of the world. This has caused many international students, especially Iranians, to migrate to Northern Cyprus to continue their studies. In addition to the possibility of access to quality higher education, the academic stay also provides an opportunity to get to know the culture and society of Northern Cyprus.

Investment in Northern Cyprus

Investing in North Cyprus is especially attractive for entrepreneurs and investors who are looking for profitable and stable businesses. With its dynamic and growing economy, this country offers numerous opportunities for investment in various sectors such as real estate, tourism, information technology and agriculture. Investing in this country can lead to obtaining residence and benefiting from special facilities for investors.

Investment in Northern Cyprus

Conditions for buying property in North Cyprus

Buying a property in North Cyprus comes with certain conditions and rules. Among these conditions, one can mention the age of over 18 years and not owning another property in this country. The process of buying a property also includes several basic steps. First, a request to buy a property must be registered in the municipal association, and after the approval of this association, the property can be purchased. In the meantime, consulting with experienced experts in this field can facilitate the process and prevent possible problems.

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 Northern Cyprus company registration services page!

Legal procedures for buying property in North Cyprus

1. Choosing a property: First, you must choose a suitable property in person or online. This choice includes the type of property and the desired area.

2. Negotiate with the owner: After choosing the property, negotiate with the current owner and present your offer. Getting help from a professional agent can help you a lot at this stage.

3. Setting up the contract: If there is an agreement, the sales contract will be set up and registered. This contract must be translated into the necessary languages.

4. Payment: The buyer must pay the full amount of the property or the first installment.

5. Payment of stamp duty: The buyer must pay the stamp duty, which is 0.5% of the total amount of the contract, within 21 days after signing the contract.

6. Transfer of the title deed: After the necessary permits are issued by the government, the title deed is transferred to the name of the buyer.

Advantages of buying property in North Cyprus

Buying a property in North Cyprus has other benefits besides obtaining residency. Among these advantages, we can mention the possibility of safe investment in a country with a growing economy, the use of mortgage loans with suitable conditions, and the benefit of the facilities and welfare services of this country. Also, due to its location in a strategic area and having a Mediterranean climate, this country is considered an excellent destination for spending holidays and living in a calm and pleasant environment.

Advantages of buying property in North Cyprus

Mortgage to buy property in North Cyprus

One of the great advantages of buying a property in North Cyprus is the possibility of obtaining a mortgage. Reputable banks in this country offer loans with long-term repayment (about 10 to 12 years) to foreigners who intend to buy property. To receive this loan, the desired property must be registered in the buyer’s name and must not have a joint deed. By registering the property in your name, you can apply for a one-year residence permit that is renewed every year. Also, by reading our article about the process of buying a property in North Cyprus, you can get more information about the process of buying a property in North Cyprus!

Conclusion

Immigrating to North Cyprus through the purchase of property is one of the fastest and most reliable ways to obtain residence in this country. This method has attracted the attention of many people due to its low costs, simple process and many advantages. By buying a property in North Cyprus, you can not only get a residence, but you can also benefit from this investment as an economic opportunity. Therefore, it is recommended to use the advice and help of experienced professionals to carry out this process in order to benefit from all aspects of this opportunity in the best way.