When purchasing a property in Northern Cyprus there are certain regulations and restrictions that are needed for you to take the title deeds (kocan).The transfer of Title may take usually between 12-18 months to be fully completed, this however does not affect you taking possession of your property.

The Procedure for buying Freehold:

• Select property and agree price.

• Contract to be drawn up by a solicitor based in Northern Cyprus (your own or provided by TopMed) to include, price payment specification, timescale.

• Solicitor to apply to Council of Ministers on your behalf for the purchase permit.

• Both vendors and purchaser to sign

• Purchaser to provide a deposit( this will vary from one property to another)

• Final balance payable. (With all new build properties will be in stage payments) a 15% K.D.V (V.A.T) will be levied on the property.

• Once purchase permit has been received vendor transfers title into purchasers name.

• Purchaser pays a fee of 6% stamp duty and 1% of the stamp duty charge is paid to the local Authority

• Sale complete

Leasehold

To purchase a leasehold property in and around Girne and in Northern Cyprus an application is submitted to the Ministry of Tourism.

The procedure for buying leasehold:

• Select a property and agree a price

• Contract to be drawn up by solicitor based in Northern Cyprus, agreeing all the terms and conditions.

• Vendor applies to Tourism Office to Transfer lease

• Both vendor and purchaser signs

• Purchaser applies to take over lease

• Once application is approved the purchaser pays a 10% transfer deposit

• On completion the final balance is paid to vendor and lease transferred

• Sale is completed.