Buyers guide

Can i cross the border between two sides ?

Yes, you can safely cross the border of Northern Cyprus. No visa is required to fly to Northern Cyprus, and the process of crossing the border typically takes no more than 5 minutes. If you are arriving from the southern part, you have the option to cross the pedestrian border in the center of Nicosia, for example, or by car at one of the several border crossing points.

Every vehicle is required to have insurance coverage for entry into Northern Cyprus. You can purchase insurance at each border crossing point.

How can I be sure that the property is legal?

To ensure the legal clarity of the property you have chosen, it is necessary to hire a local lawyer who will assist you throughout the entire process.

The lawyer will thoroughly review all the documentation related to the selected property, including land ownership rights, and will prepare a contract that ensures the protection of your legal rights as a client. They will guide you through the legal procedures and provide advice on any potential risks or issues that may arise during the transaction.

What is the average cost of legal services?

The average cost of legal services in Northern Cyprus is £1300.

The process of choosing a property typically involves the following steps:

 

    1. Define your requirements: Determine your budget, preferred location, property type (e.g., apartment, villa), size, amenities, and any specific preferences or criteria you may have.
    2. Research and shortlist: Conduct thorough research online, consult real estate listings and agencies, and shortlist properties that meet your criteria.
    3. Visit the location: Consider visiting the location in person to get a firsthand experience of the area, explore the neighborhoods, and assess the local amenities and infrastructure.
    4. Engage a real estate agent: Work with a reputable local real estate agent who can provide guidance, show you properties that match your criteria, and assist in negotiations.
    5. Property viewings: Schedule viewings of the shortlisted properties to physically inspect them, evaluate their condition, and assess whether they meet your expectations.
    6. Due diligence: Conduct due diligence on the properties you are interested in, including verifying legal ownership, checking for any outstanding debts or encumbrances, and reviewing the necessary documentation.
    7. Decision-making and negotiations: Once you have identified a property you are interested in, negotiate the price and terms with the seller or their representative.
    8. Legal assistance: Engage a local lawyer or solicitor who specializes in real estate transactions to review the contracts, ensure legal compliance, and protect your interests throughout the purchasing process.

    By following these steps and availing the opportunity for an introductory tour, you can make an informed decision and select a suitable property that meets your requirements.

What documents are required to process the contract?

Your international passport.

Additional costs for the purchase:

  1. Lawyer: Between £1350 and £1500.
  2. Contract Registration: As of 2023, changes have been made to the registration process. As of May 2023, if the contract is signed and the client wishes to register it immediately after signing, the cost is 6.5% of the purchase value.
  3. One-time tax on registration with the local Land Registry: 6% of the transaction value. Typically, this tax is paid after several years. Many customers who purchase for investment purposes do not rush to pay the tax and sell the property before payment. It is not obligatory to pay if the property is acquired for temporary investment purposes for a few years and there are no plans for relocation.

Vitali
Senior Marketing Advisor
+905488344034
+972544456339