North Cyprus Buyers Guide
Guide to Purchasing Property in the Turkish Republic of Northern Cyprus (TRNC)
Under the 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 1 donum per household. For the purposes of this law, husband and wife count as one household. 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 1 donum in area, we can give you advice on using trustees or setting up a TRNC company to hold the title to the property for you.
The conveyancing procedure followed by Naomi Mehmet & Partners is designed to ensure that your interests are protected as far as possible throughout the whole transaction. The first step will be an initial meeting with you to obtain information about the property you have chosen and any informal agreements you have made with the vendor regarding price, payment schedule and included items. This stage may also involve taking a power of attorney from you to ensure that we can act on your behalf to sign documents if you are away from Northern Cyprus for long periods of time.
For more detailed information on taxes, please ask us for a copy of our guide to the taxes payable on property transactions.
We will then prepare a Contract of Sale to safeguard your interests. The Contract of Sale will include all important terms such as plot number, plot size, price, payment schedule, completion date with penalty clauses for late completion and all floor plans and specifications will be attached to the contract to ensure that the vendor is bound to carry out the construction work in accordance with these.
