Foreigners who are going to purchase or lease immovable property in the TRNC must apply to the Ministry of Interior in order to purchase immovable property and be legally entitled to that property, and must obtain the approval of the Council of Ministers as a result of the investigations to be made by the Ministry. The approval process varies according to the nature of the application and is usually completed in 2 to 6 months
Parental grant 0.2%
Spouse-to-peer grant 0.4%
Grant from grandfather to grandchild 0.4%
Spouse-to-peer grant 0.4%
Grant from grandfather to grandchild 0.4%
Turkish Titles: Immovable Property Titles belonging to Turkish Cypriots, British and other countries and/or their citizens before 1974.
Equivalent: After 1974, Turkish Cypriots left their immovable properties in Southern Cyprus and migrated to the North. Later, the TRNC State issued counterfeits to some immovable properties in the North that were previously owned by the Greek Cypriots, in return for the goods left in the South. This type of immovable property is called Equivalent Koçanlı among the people.
Allocation: These are real estate properties given and/or allocated by the state to the war veterans of the TRNC after 1974, their families, people invited to settle from the Republic of Turkey, and people who come from the South to the North and do not own any property.
Equivalent: After 1974, Turkish Cypriots left their immovable properties in Southern Cyprus and migrated to the North. Later, the TRNC State issued counterfeits to some immovable properties in the North that were previously owned by the Greek Cypriots, in return for the goods left in the South. This type of immovable property is called Equivalent Koçanlı among the people.
Allocation: These are real estate properties given and/or allocated by the state to the war veterans of the TRNC after 1974, their families, people invited to settle from the Republic of Turkey, and people who come from the South to the North and do not own any property.
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 were also 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 on second-hand land and housing purchases.
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/field.
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
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 on second-hand land and housing purchases.
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/field.
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