North Cyprus Property
Frequently
Asked Questions
Q. What documents
are required when purchasing a property in North Cyprus?
A. You will need just your passport when
purchasing a property.
Q. Can I pay for the property from overseas?
A. Of course this can be done quite easily.
Q. Can I bring my personal belongings
from overseas?
A. Yes you can, a number of freight companies
offer door to door service, but local furniture prices in North Cyprus are much cheaper than in the UK. Details available on request.
Q. Who will do all the paperwork for the
sale?
A. We advise all our customers to appoint
a solicitor to deal with the paperwork for your permission
to purchase your property in North Cyprus and to appoint Power of Attorney.
Q. Can we use our own UK solicitor?
A. No you must use a solicitor based here
in North Cyprus. You can use a solicitor of your choice, however
we do have solicitors we would be happy to introduce you to,all of an extremely high standard.
Q. Do we need to open a bank account in
North Cyprus?
A. You do not need to open a bank account
in North Cyprus but it can be useful for standing orders.
Q. Do I have to make a new will in North
Cyprus?
A. You must have a Will based in North
Cyprus as a UK Will, will not be accepted here and your property
in North Cyprus will not be covered on your original Will. Our solicitors
can draw up a Will for you on completion of your property.
Q. Can I own more than one property at
a time?
A. At present you are only allowed to own
one property at a time and the maxumum amount of land for a husband/wife to own is one donum.
Q. How big is a donum of land?
A. A third of an acre or 1.338sqm. Foreigners
are allowed to own up to one donum of land. Land measurements
are generally calculated in donums, evleks and square feet.
There are four evleks to the donum and 3,600 square feet to
an evlek.
Q. Can I buy a property in North Cyprus
from overseas?
A. We have many buyers who due to their
busy programme are unable to visit in the first instance but
do not want to miss out. If you do want to buy remotely this
is a very easy process and we will be happy to guide you through
this every step of the way.
Q. How long are we allowed to stay on
the Island legally?
A. You are issued a 3 month tourist visa
when you arrive, after which you must apply for a residents
permit.
Q. Will I need permission to live in North
Cyprus and if so how do I apply for this?
A. Yes you are required to submit an application
to apply for residency in North Cyprus. This is generally
a formality but is essential for peace of mind. When you arrive
on the island you are automatically given a 90 day visa and
if you intend staying beyond that date you must apply to the
immigration office for a temporary residency permit.
Q. Is there an International School for
my children to attend?
A. ‘Sunny Lane School’ is the
school for those of you with children. It is an international
school with all teaching following the English National Curriculum
with Turkish as secondary. For more detailed information visit
www.sunnylaneschool.net
Q. What are the typical costs of buying
North Cyprus property?
1. Stamp Duty is payable at 0.5% within 30 days of exchange.
2. Transfer Tax is payable on registration. Whilst this is generally 6% of the purchase price every person has a once in a lifetime oportunity to opt to pay tax at 3%.
3. VAT is charged at 5% on property and 16% on other goods and services.
Notes :
When buying Turkish Title or TRNC (Turkish Republic of Northern
Cyprus) Title foreigners are restricted to 1 Donum of land.
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