Guide To Purchasing Property In The Turkish Republic Of Northern Cyprus Under the current laws of the Turkish Republic of Northern Cyprus (TRNC) non-TRNC Citizens are entitled to take title to only one property up to a maximum area of 5 donums per person providing that the property only consists of one dwelling (previously this was 1 donum, but this has now been increased by the Immovable Property Acquisition and Long Term Lease (Aliens) Law 52-2008). Guide To Purchasing Property In The Turkish Republic Of Northern Cyprus Under the current laws of the Turkish Republic of Northern Cyprus (TRNC) non-TRNC Citizens are entitled to take title to only one property up to a maximum area of 5 donums per person providing that the property only consists of one dwelling (previously this was 1 donum, but this has now been increased by the Immovable Property Acquisition and Long Term Lease (Aliens) Law 52-2008). Building permission will not be granted to build further dwellings after permission to purchase has been granted. Under new regulations, husband and wife may now purchase one property each in their own names (previously, this was one property per household and husband and wife were counted as one household, but this has since changed). Before the title deeds to the property can be registered in your name, you will need to have permission from the TRNC Council of Ministers. This is explained in more detail below. If you wish to take title to more than 1 property, or a property over 5 donums in area, advocates can give you advice on using trustees or setting up a TRNC company to hold the title to the property for you.. There should be no mortgage and/or obstacles on the Immovable Property to be purchased. It is required to obtain a construction permit for the construction / house on the Immovable Property in question.

The current rates are as follows: • Land Registry Transfer Fee - 6%. However, every person has a once in a lifetime exemption to reduce this tax to 3%. If you decide to use your option right, you will pay 3%. • VAT – 5% • Stamp Duty – 0.5%

TAHSIS KOÇAN: The stubs of real estates given to TRNC citizens or people who came from Turkey after 1974 as a reward for the success shown in the war by the TRNC state, so that they can settle in the country and continue their lives. These titles are under the guarantee of the TRNC state and their owners have all property rights on the real estate. TURKISH COB: It is the type of title given for residences, land and workplaces owned by Turkish Cypriots or foreign nationals before 1974. EQUIVALENT KOÇAN: The Turkish Cypriots, who had to leave their real estate in Southern Cyprus and migrate to Northern Cyprus in 1974, were given real estate equivalent to the property they owned there in return for the real estate they left in the Greek side by the TRNC state. Turkish Cypriots, who bought equivalent real estates, signed documents stating that they renounced their lands in the Greek part and obtained the titles of their “equivalent” real estate from the TRNC state. Real estates with equivalent titles are considered safe and all kinds of purchases/sales can be made. Leasing for 49 years: These are the goods leased by the TRNC State.

In Northern Cyprus, acres, evlek, feet (feet) and meter units are used in land and plot area measurements. 1 Acres = 4 evleks 1 acre = 1,338 m2 1 Acres = 14,400 ft2 1 Evlek = 334.5 m2 1 Evlek = 3600 ft2 1 m2 = 10.76 ft2