Once You Decided What You Want

You have visited and liked Northern Cyprus and some of the properties offered in Northern Cyprus, and you are now ready to invest in one or a few. Please read below carefully and get information on all the details of purchasing in Northern Cyprus.

• Make sure infrastructure (electricity, water and others) are present.
  
• Make sure building permits are obtained (or at least applications have been submitted) and plans are all approved by Council of Engineers and Architects.
  
• Make sure land ownership is with the construction company or its directors or with a third party with whom the construction company has a binding agreement.
  
• Make sure construction is of top quality to your satisfaction and feedback is regularly given from the company to the buyers. In fact, ask to see construction company’s/seller’s previous completed projects.
  
• Ask the seller about the ownership of the properties and make sure titles are internationally recognised. Bear in mind that it is safe to buy Turkish Titles or Esdeger Titles as explained above. We, as Distinctive Properties pride ourselves in selling properties, which will not cause trouble for our clients in the future.

The process for buying a “freehold” property (most commonly found title type) is as follows:

1. Decide the best property for you and agree on the sale price.
   
2. Engage a solicitor who will prepare a sale contract for you. This will set down the terms of sale, ie. price, timescale, vendor, purchaser, specifications and any special conditions.
   
3. Vendor and purchaser sign relevant paperwork (ie contract and appendices)
   
4. Purchaser provides sale deposit (usually between 10-20%)
   
5. Solicitor applies for a Purchase Permit from the Council of Ministers, which as stated before takes about 12 to 18 months.
   
6. Instalment payments are paid to vendor as per the contract of sale as various construction stages are completed.
   
7. As soon as purchase permit is issued, remaining balance is due to the vendor.
   
8. Purchaser pays balance and Vendor signs title deed into name of purchaser.
   
9. Sale is completed.

According to Property Purchase (Foreigners) Law and other relevant regulations, Law No: 109, Foreigners’ purchase is limited to one donum (donum is a measurement of land equivalent to 1,600 square yards, 1,338 sq. meters or 14,400 sq. ft., 0.336 acre) of land or one immovable property, unless you register a local company in Northern Cyprus with Turkish Cypriots acting as 51% nominee shareholders.

Next, your solicitor applies to the Ministry of Interior on your behalf for a permit to purchase immovable property. Permissions may take anything between 12 to 18 months to be issued. Only after the permission is granted can the purchaser register his/her name at the land registry as the registered legal owner. Where the Purchaser is not able to be present in Northern Cyprus at the time of the transfer, a power of attorney may be issued with his/her local counsel and transfer may be executed in this way.

It is strongly recommended that you engage legal help to make sure you have proper title to the property you invested. The equivalent to a UK solicitor in Northern Cyprus is called ‘Avukat’. Distinctive Properties can advise you on independent local English speaking Lawyers .

Please note that this information is not a legal opinion and has been prepared to give general information about the property law and practice in Northern Cyprus.