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Studio apartment with sea view in North Cyprus A unique complex in the Bogaz, located on the first line next to the sea…!

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New title deeds in North Cyprus

New title deeds in North Cyprus

The Land Registry Office has made small changes to the title deeds (the documents confirming the owners property right in North Cyprus. Now in the section where area is stated square meters are used instead of donums, which is much easier and more familiar for foreign investors who purchase property in Cyprus. 1 Cypriot donum is 1338 m2 and consists of 4 evlek. Also on some title deeds you can find the photograph of the owner. Be sure to check the property title type and the possibility that there is no mortgage. Your lawyer or real estate agent can always help with it.

New title deeds in North Cyprus

New title deeds in North Cyprus

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Apartments in luxury complex zero to the sea

Apartments in luxury complex zero to the sea

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About company Kipriada Estates

About company “Kipriada Estates”

The company “Kipriada Estates” is based on high professionalism, knowledge of real estate market of North Cyprus and the desire to establish close long-term relationships with customers and partners.
Our company has representatives in Canada, Russia, Ukraine, Belarus, Kazakhstan, Germany, Turkey and Norway.
Having considerable experience with developers of North Cyprus, we provide expert assistance in the selection and evaluation of properties, consult of all the advantages and disadvantages of each object, provide legal support of the deal.
Employees of “Kipriada Estates” protect the interests of their clients during the process of purchasing property, from the first meeting with the developer till the receiving of the keys. We can also arrange the purchase of the furniture and white goods, renting and buying a car, obtaining residence permits and other questions of adaptation.

We are responsible for the purity of the transaction, we verify all necessary documents, permits and approvals. We work only with local government notaries and lawyers, which allows our customers to avoid misunderstandings and incorrect interpretations.
With our help customers easily go through the procedures of the acquisition of property in North Cyprus.
We do everything to make the purchase easy and clear. While you enjoy relaxation and sightseeing, we will work to make your home by the sea a piece of Paradise on earth.

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Criminal record for buyig property in North Cyprus

Criminal record for buying property in North Cyprus

When buying property in North Cyprus your contract of sale is being registered at the Land Registry Office. Then for the transfer of the title deed the foreigner has to provide criminal record that needs to be translated into Turkish and certified by the consular Department of the Turkish Embassy. The Council of Ministers will check your criminal record and in 6-24 months you will receive a permission to transfer title on your name.

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Donum? What is it?

Donum? What is it?

The land in North Cyprus is measured in donums. A donum is 1338 square meters. Each donum is enough for the construction of 4 houses, but it is better of course to build a detached house using full donum of land to have enough place for garden, garage and backyard buildings. Land price will depend on location, distance from the sea, availability of electricity and water communications.

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Why do you need a lawyer when buying property in North Cyprus?

 

Why do you need a lawyer when buying property in North Cyprus?

 

First the lawyer prepares a contract of sale in Turkish and English for your understanding. Second the solicitor registers the contract at the Land Registry Office and apply the documents for the permission to transfer title on your name. Thirdly consult you about taxes that must be paid upon purchase. A lawyer’s fee usually is between 1,000 and 1,500 GBP. Additionally You can prepare a power of attorney for your lawyer who will complete the transaction on your behalf.

 

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Taxes when buying property in North Cyprus

Taxes when buying property in North Cyprus

 

  • Stamp duty is 0.5% of the price stated in the contract. Stamp duty has to be paid to the tax office within 21 days from the date of signing of the contract. After registration of the contract, you must register the contract at the Land Registry Office (within 21 days from the date of registration at the tax office)
  • VAT is 5% (paid at the transfer of ownership to the buyer for new buildings)
  • Tax of transfer of the ownership – 3% of the value of the first purchased property. The tax is payable within a few months after obtaining permission to purchase issued by the Council of Ministers
  • Annual property tax is calculated around 1 Turkish Lira for square meter of the total area.

 

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Exchange title deed in North Cyprus

Exchange title deed in North Cyprus

This is the land where greek cypriots lived before the island was divided in 1974 and which was exchanged with the land of the turkish cypriots from the southern side, hence the name of the title – exchange. The majority of real estate objects and complexes are being built on the exchange title deeds.

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Turkish title deed in North Cyprus

Turkish title deed in North Cyprus

 

Properties with turkish title deed are lands, villas and houses that belonged to Turkish Cypriots before island was divided in 1974. This type of ownership is recognized everywhere in the world, so a property with Turkish title is constantly increasing in price and is in very much demand as it represents a high investment value. We can offer you a wide range of objects with turkish deed.

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Investment opportunities in North Cyprus

Investment opportunities in North Cyprus

It’s very simple: by investing in property in North Cyprus you can make profits regularly or once you resale.

You can rent out the property you purchased for the tourists and locals. This type of service is relevant all year long. Besides, the price of real estate is growing from year to year – and this is also your profit.

Another major bonus of real estate investments is the possibility of obtaining a Residence permit. As you can see there are a lot of pluses. Make the right choice and we will help you to get your dream home in North Cyprus.

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Dmitry Averianov