Every foreign purchaser must go through the 'North Cyprus permission to buy' process. This is a lot simpler than it sounds but can take around three to six months to complete. It is worth noting at this stage that the permission process does not prevent you from moving into your North Cyprus property or leasing the property for a rental income or even selling the property on.
Whilst processing your purchase permit application, the Council of Ministers will take searches from the land registry, the military and the immigration authorities and provided that these are positive, the permission will be granted.
It is also now necessary for all foreign nationals to apply for a police clearance report before permission to purchase can be applied for. This can take a few weeks but it is best to be prepared before you arrive in North Cyprus.
Frequently Asked Questions
Q. Should I get my permission to buy before purchasing?
A. The Government advises that permission to purchase should be obtained before any money is paid by the purchaser. However, due to the length of time permissions are taking to be processed, purchasers find that following this advice is not practical.
Q. Is there a risk if I don’t get my permission to buy?
A. In the event that you don’t obtain your permissıon to purchase the title deeds will be held for you by Döveç Construction and your contract will be registered in your name at the Title Deed office.
A new law was passed in Northern Cyprus at the beginning of 2008 whereby signed and stamped sales contracts are now lodged at the District Lands Office in order to protect the purchaser from the title owner borrowing or selling the property to another party. In short the purchaser is 100% protected until title deeds have been registered into their names. You must register your contract for the purchase of your property within 21 days and pay the Stamp Duty at the rate of 0.5%. The Land Registration office will charge a fee for this service currently 65TL. We or your solicitor will help with this process.
Q. Is there anything I need to consider when choosing a property?
A. You should consider whether the property is close to a military base as permission has been known to be refused in these circumstances. You also need to prove that you have no previous criminal convictions.
Q. What can I do if I don’t get my permission to purchase approved?
A. In the event that your application for permission is refused, you can nominate any other person to take title to the property on your behalf and hold the property on trust for you.
We hope you have found this article helpful. It is our aim at Döveç Construction to give the most useful information as possible in order to make your property purchase as easy as possible.