Taxes to be Paid When Buying Immovable Property in TRNC

***Transfer Fees are revised from time to time with the changes made in the Land Registry and Cadastre Office (Fees and Fees) Regulations according to seasonal conditions.

 

            The 'Deed Transfer Fees' valid until 30.12.2020 are as written in the paragraph below:

For TRNC citizens; For the first time, the title deed fee was 1 percent for the purchase of flats or houses up to 140 square meters. In subsequent purchases, the title deed fee will be 3 percent if the house does not exceed 300 square meters, and 4 percent if it exceeds 300 square meters. In other real estate sales and donation transactions, the title deed fee will be applied as 4 percent. All fees to be paid by foreigners regarding immovable properties within the scope of this regulation have also been reduced to the percentage paid by TRNC citizens.

 

  • VAT (Value Added Tax): Unless otherwise agreed, this tax is paid by the BUYER as 5%. If the SELLER is not a professional for-profit company, VAT is not paid in the purchase of second-hand land and housing..

 

  • Title Deed Transfer Fee: Unless otherwise agreed, 6% is paid by the BUYER. However, if the BUYER is a non-profit amateur BUYER; may pay 3% title deed transfer fee with 50% discount for only once in the purchase of a house and a plot/field. In subsequent purchases, a tax of 6% is paid over the price approved by the land registry office.

(Fees written above are valid until 30.12.2020)

 

 

  • Withholding: This tax is paid by the SELLER. If the SELLER is a for-profit firm, 4% tax is payable if the non-profit amateur SELLER is 2.8%. Non-profit amateur SELLERS are exempt from this tax, provided that they are sold once for a house and a plot of land.

 

  • Stamp: In case of purchasing a house from a project with a future delivery date, the sales contract is registered with the land registry office. In such a case, a stamp fee of 0.5% of the sales price in the contract is paid to the tax office.

 

 

Transfer by grant is implemented in 3 ways:

  • Parental grant 0.2%
  • Spouse-to-peer grant 0.4%
  • Grant from grandfather to grandchild 0.4%