Property in North Cyprus can be purchased by any citizen. To do this, you need to select the object you like and pay for it. Special conditions for the purchase of real estate does not exist. I will describe in order how the real estate purchase transaction takes place:

1. You choose a property according to your wishes:

• You can visit North Cyprus and choose your favorite property, taking into account the budget and personal requirements. This trip will give more opportunities to get acquainted with the local culture. You can order a tour both through a real estate agency and through a travel agency.
• You can see all the objects in the Internet, choose your favorite and come to buy it.

2. Alignment of cost and payment schedules. Many construction companies, due to their financial stability, offer loans for different interest or installments under a sales contract, you only need a copy of your passport.

3. Your property is withdrawn from sale after making a deposit of 1000 TRY (1200 EUR), which will be subsequently credited in the total amount of payments. In case of refusal to purchase the selected property, the deposit is not refundable.

4. A contract is made for the purchase of real estate. The contract specifies the price of the property and the terms of payments, the specification of the object, the terms of construction and other conditions. For all foreign citizens, it is recommended to use the services of a local attorney who will accompany the entire purchase process. You can do everything yourself, but it will take more time.

5. The contract is registered with the tax inspectorate and the land cadastre.

6. After all necessary documents have been signed, processed and all initial payments have been made - you receive the keys to the object.

7. Further, the documents are submitted to the Council of Ministers with a request for a permit to purchase a property for a foreigner.

8. Within 2 years a permit is issued for the purchase of real estate for a foreign person.

9. After the final settlement and obtaining a permit for the purchase of real estate, all title documents for the purchased property are issued and a certificate of ownership of the housing in your name is issued (in Turkish this document is called "kochan").

When buying property paid the following taxes:

• Stamp duty, which is 0, 5% of the value of real estate under the contract. The fee is paid in the tax service within 21 days from the date of signing the contract. After the registration of the contract, it is necessary to register the contract in the land cadastre (also within 21 days from the date of registration with the tax service).
• VAT is 5% and paid when transferring ownership to the buyer (for new buildings)
• The tax on the re-registration of land ownership is 6% of the cost of the first purchased property. The tax is paid within a few months after receiving the purchase authorization issued by the TRNC Council of Ministers.

Additional costs:

• The services of a lawyer are from 1250 TRY (1465 EUR). If necessary, help will be provided by Russian-speaking translators.
• Additional payment for connection of water and electricity will be 200-600 TRY (230-690 EUR).
• Utility costs: a bill for water (usually this includes paying not only for water, but also for cleaning the common area, garbage collection and street lighting) - the minimum payment amount is 30 TRY. The electricity bill comes monthly - the minimum payment is 10 TRY per month (1 kW is 0, 50 TRY).
• The annual property tax is calculated on the basis of 1 TRY per 1 sq. M. of the total area of ​​the apartment.
• If the property is located in the complex - the complex is additionally paid for (payment to the gardener, maintenance of the pool, watering the garden) The service bill depends on the services in the complex.