Yes; your permissions to live in Northern Cyprus are applied for by your solicitor at the appropriate government offices. This is typically part of your legal fees for buying property. Where this can be a long arduous process, it is best handled by a solicitor.
It is important to hire a solicitor, who must be based here in the TRNC, to make all necessary checks on your property purchase at the local government offices and produce a thorough Contract of Sale to be signed by you and the developer of the property.
You can expect to pay about 1300 GBP for a solicitor to process your applications for living in TRNC and make a contract of sale. It is important to ask your solicitor what his/her fees cover.
Foreigners can expect to pay VAT which is currently 5%, Stamp Duty which is 0.5% and Title Transfer at 3% These costs are on the value of the property, not the sales price. Typically the property is valued at far less than the cost of the property. These are to be paid at time of title transfer.
Yes. Many buyers are not able to travel to Northern Cyprus and don’t want to miss out on prime property investments or holiday homes. We can talk you through every step of the process of buying property from abroad.
QUESTIONS ABOUT CYPRUS
There are excellent secondary schools, including English curriculum secondary schools in the Kyrenia area, such as Girne American University Secondary Program and the English School of Kyrenia. Additionally, there are 6 major universities in Northern Cyprus attracting students from all over the world.
It takes only as long as it takes you make a decision! Once you have decided on the property of your dreams, it is typically possible to meet with a solicitor to complete the sale within 24 hours.