Buying In Cyprus ( North )

Please note : Buying property in the north of Cyprus is slightly different to that of buying in the South.

A critical factor in buying property in North Cyprus is to find a qualified lawyer at all times to advise on all contracts and Government applications.

There are various forms of title deeds in North Cyprus that a buyer should be aware of including:

1. Freehold – Foreign Title
This is property owned by other European residents and the title deed is internationally recognised. There are a number of checks to be carried out by the Council of Ministers which means the sale will take approximately 3-6 months to complete.

2. Freehold – Turkish Title
This is property Turkish Cypriot owned prior to 1974. Foreigners are limited to one donum per person (husband and wife count as one person unless they have different surnames). Again there are a number of checks to be carried out by the Council of Ministers which means the sale will take approx. 3-6 months to complete. Note that with this type of title, foreigners are restricted to 1 donum of land (1,388 sqm or 1/3 acre).

3. TRNC Title
A property with TRNC Title Deed (Kesin Tasarruf Belgesi - Absolute Possession Document) was previously Greek Cypriot owned, prior to 1974. When many Turkish Cypriot refugees came to the north after July 1974, they left all their possessions behind in the south and would sign over his properties to the TRNC government. The intention is that the North Cyprus government would hold the assets until a settlement is agreed between the north and south governments. Accordingly, the Government then assessed the value of the properties on a points basis, and with these points, the Turkish Cypriot refugee could take a relinquished Greek Cypriot house or land in compensation for his lost properties. The refugee would then be issued with a title deed for his newly recompensed property. It is recommended to consult with your legal advisor as to whether a TRNC title deed property can be considered safe to purchase. Note that with this type of title, foreigners are restricted to 1 donum of land (1,388 sqm or 1/3 acre). Be careful to avoid the temptation of cheap properties that may be without a title deed issued by the relevant authority.

4. Leasehold Title
This property is government owned with long-term leases granted for 49yrs. You can apply directly or via a solicitor to the Ministry of Tourism to transfer the lease.

The general process for buying a Freehold property is as follows:

1. Secure property and agree price - the validity of the title deed is checked and confirmed via Notary Public.
2. Contract drawn up by Notary Public or Solicitor, setting down the terms of sale, i.e. price, timescale, vendor, purchaser and any special conditions. If the purchaser needs to return home to another country, the chosen Power of Attorney may attend to the completion in the purchaser’s absence.
3. Vendor and purchaser sign.
4. Purchaser provides 10% deposit.
5. Solicitor applies for a Purchase Permit from the Council of Ministers (takes 3 to 6 months).
6. When purchase permit is received, remaining balance due from purchaser.
7. Purchaser pays balance and vendor signs title deed into name of purchaser.

Process for buying a Leasehold property is similar to a Freehold however, instead of an application going to the Ministry of Interior, the buyer must either apply directly or via a solicitor to the Ministry of Tourism who grants the lease.