Requirements for
Purchasing North Cyprus
Properties
Want To Buy A Property? This Is What You Need.
Similar to all purchases or real estate properties, purchasing a piece of property in North Cyprus is also complicated. Unfortunately, we cannot pick a place, pay a sum, and then receive the deed. There is a large amount of paperwork that goes into the process, as well as legal fees, and other legal obligations.
It is much harder for a foreigner to purchase a piece of property in North Cyprus than it is for an actual Cypriot to purchase a home. People are not a citizen of North Cyprus are not allowed to directly purchase a property. In order to obtain the property, a Power of Attorney must be assigned to the person. The Power of Attorney must be a Cypriot citizen. Once the foreigner has obtained the property for atleast 2 years, then the deed can be signed over into their name.
Other restrictions include the amount of land, properties, or businesses that can be purchased. Foreigners are only allowed to purchase one plot of land, one house, or one building for business use. If the purchaser is wanting to use the building for commercial use and they do not specify this beforehand, then there will be penalties. However, Cypriot citizens have no restrictions on how many pieces of property they can purchase. The only exception to this is when they are acting as Power of Attorney. This is the only time that they have restrictions placed upon them. A plot of land is also called a "donum". The measurements of the donum are 1338m which is known to us as 14400 ft squared.
Permission must be granted by the Council of Ministers in order for the process of the purchase to continue. There is usually not a problem with the Council approving the situation, and most cases are accepted. The main goal of the Council is to make sure that the property will not be used for commercial exploitation. If the foreigner needs to purchase a plot of land that is larger than one donum, the Council may approve the request in certain circumstances. Typically, the request is not given for someone who is wanting to build a vacation home. However, if the land is intended to be used for the development of tourism then the Council will approve the request. The request from industrial companies may also be approved due to the benefit of population growth.
Once the purchaser has obtained the property for 2 or more years the deed can be transferred into their name. A process of registration has to be conducted through the District Lands' Office. Before this process can take place, a purchase permit has to be obtained through the government. In order to obtain the permit, the person has to apply to the government with the help of a solicitor, also known as a lawyer. The permission grant can take anywhere from 4 months to a year. It usually depends on the details of the case. There is an application fee for the permit which usually costs around 750 £ or 1,500 £. The fee is based on which aid you use for the process. A solicitor will usually cost more than a notary public. The basic information that is required to be on the application is the names and addresses of both the Power of Attorney and the purchaser. The purchaser also has to supply a passport number or identity card.
