About Northern Cyprus
A hidden gem in the Mediterranean
About Northern Cyprus
Northern Cyprus is a hidden gem in the Mediterranean; with its sunny weather almost all year, natural and historical places combined with its lush green landscapes allow you to have a life you will never forget…
Cyprus is a unique place for all nature lovers. Cyprus, where you can also do many nature sports, is waiting for you for these special trips…
Kyrenia, with its narrow streets, colorful port, history, culture and entertainment life, is among the most beautiful holiday destinations that come to mind especially for a pleasant summer holiday. The sparkling waters of the Mediterranean Sea, legal casinos, nightlife and many more are waiting for you in Kyrenia…
Living in Kyrenia is quiet enough to relax but too lively to go out and have fun whenever you want, there are many historical and natural places to visit for young, old, family and couples in Kyrenia and great memories to live in…
- Capital: Nicosia is the capital of Northern Cyprus. Apart from Nicosia, there are 6 major cities: Kyrenia, Famagusta, Guzelyurt, Iskele and Lefke.
- Time: GMT+ 2
- Currency The official currency of Northern Cyprus has been Turkish Lira since 2005. Symbol: TL (Turkish Lira). Banknotes: 200, 100, 200, 100 , 50 , 5 TL. Pennies: 1 TL, 50, 25, 10 kr (Penny). The British Pound, Euro and US Dollar are exchanged by banks and currency exchange offices and are also widely used in markets. In cities, many banks have ATM money points that can be withdrawn with debit and credit cards. Credit cards are used in hotels, restaurants and shopping.
- Language: The official language of Northern Cyprus is Turkish. English is also widely used.
- Transportation/ Travel: You can easily reach Northern Cyprus by air and sea. Flights to Northern Cyprus are from Ercan Airport, 12 km east of Nicosia. In addition to this airport, Larnaca Airport can also be used due to its proximity. There are also cruises from Turkey to the ports of Famagusta and Kyrenia.
- Climate: Since Cyprus is a Mediterranean island, it is hot and dry in summer; Mediterranean Climate is observed, where the winter season is warm and low rainy. The average annual air temperature of Northern Cyprus is 19.0 °C.
- Traffic: Traffic has flowed in the left lane since Cyprus was a British Colony.
- Contact: International dialing code (+90). There are two GSM companies, Turkcell and Telsim Vodafone in Northern Cyprus.
FAQ
Most frequent questions and answers
– Turkish Deed: Real estate property deeds belonging to Turkish Cypriots, Brits and other nationalities before 1974.
– Equivalent: After 1974, The Turks of Cyprus left their real estates in Cyprus and emigrated to the North. Later, the TRNC State issued title deeds to some real estates in the North that were previously owned by the Greek Cypriots, in return for the property left in the South. Such real estate is popularly called “Eşdeğer Koçanlı” (Equivalent Deed).
– Allocation: It is real estate property given and/or allocated by the state to the war veterans of the TRNC after 1974, to their families, people who were invited to settle from the Republic of Turkey, and people who came from the South to the North and did not own any property.
-There are 4 different taxes paid when buying real estate in TRNC.
– Tax Stamp: In case of purchasing a house from a project with a future delivery date, the sales contract is registered in the land registry office. In such a case, the stamp fee of 0.5% of the sale price in the contract is paid to the tax office.
– VAT (Value Added Tax): It is paid by the buyer as 5%.
– Deed Transfer Fee: It is paid by the buyer as 6%. However, if the buyer is an amateur non-profit buyer, he can pay a 3% deed transfer fee at a discount of only once in his life. For subsequent purchases, a tax of 6% is paid on the price approved by the land registry office.
– Withholding: This tax is paid by the seller. If the seller is a for-profit company, a tax at the rate of 4% is paid and if the seller is a non-profit amateur seller, a tax at the rate of %2.8 is paid. Amateur non-profit sellers are exempt from this tax once in their lives.
– Different taxes are applied in transfers through grants. The mother and father’s grant to the son is 0.2%, the spouse-to-spouse grant is 0.4%, and from grandparent to a grandson grant is 0.4% withholding.
1 decare = 4 furrow
1 decare = 1.338 m2
1 decare = 14.400 ft2
1 furrow = 334.5 m2
1 furrow = 3600 ft2
1 m2= 10.76 ft2
It is highly safe to purchase a property in North Cyprus. All the steps are detailed below. If you wish, Emperia is happy to accompany you through all these processes. It is recommended by our company to carry out all these stages with an authorized lawyer in the Turkish Republic of Northern Cyprus.
– After the property to be purchased is selected and the seller is compromised with the seller for the price, between the buyer and the seller; a sales contract is signed, which includes issues such as sales price, payment and delivery conditions, details of the commodity.
When purchasing a property, only the identity or passport of the buyers is needed.
– After signing the contract, the Stamp Fee, which is 0.5% over the Contract Price according to the current law, must be paid to the Tax Office FIRST, within 21 days from the contract signing. Thus, the contract becomes financially legal.
– In addition, the Sales Contract must be registered with the Land Registry Office. The Buyer registers the contract with the Land Registry Office, stating that the sold real estate will not be in the possession or possession of third parties in any way, and the property right gain legalization.
-After these procedures, a “Real Estate Purchase Permission” application is required to the TRNC Ministry of Interior for the transfer of the title deed to your name after the key delivery. This application results in 3-6 months. The deed transfer is carried out after the turnkey delivery of the project and the detached deed of each residence is issued.
Documents Required for Real Estate Purchase Permit Application:
- Passport or ID
- Criminal Record (Original)
- Deed
- Map (Site Plan)
- Application Form
- Petition
The buyer is obliged to pay the “Deed Transfer Fee” of the property he purchased. The Land Transfer Fee is paid to the Land Registry Office of Northern Cyprus when the deed transfer is made. In case of the buyer’s first real estate, the transfer fee of 3% of the sale price of the purchased real estate is paid at a discount. This rate is 6% for all individuals who have used the discount right before.
1- Real Estate Registration: You must apply to the Real Estate Department of the Municipality. You can apply with any document (ID card or passport) showing your sales contract and credentials. Property Tax is calculated through the square meter of your home.
2- Electricity You need to apply to KIBTEK (TRNC ELECTRICITY AUTHORITY) for the opening of your electricity, you can make your application with the sales contract and any document showing your credentials. The deposit fee is 470 TL.
3)- Water You must apply to the Municipal Water Department to have your water meter connected. You can apply with any document showing your sales contract and credentials. The amount of water meter is 1976 TL.
