Dear new member of Hub Property’s Family
As a family in Hub Property Investment, we have gathered with our years of experiences in order to serve you in the best way possible and to take the procedures forward. As the lawyers of this family, we have prepared this e-mail to inform you about the procedure of buying a house in North Cyprus. We are the lawyers of Dayıoğlu Law Office, who are active in Famagusta, Av. Özgür Dayıoğlu, Att. Yonca Dayıoğlu and his lawyers İbrahim Savant and Belma Zornacı.
The legal procedure to be a home owner in Northern Cyprus:
Your journey to become a home owner in North Cyprus by Hub Property Investment starts from:
- Consultancy session with our sales representatives to represent the properties that we have to offer.
- Receiving legal information about the house which you are interested by our office.
- Preparation of your contract and/or by our lawyers during the signing stage after above stages have passed. We will also accompany you during the signing stage.
- After finalizing the property downpayment (30% of property price) and the 0.5% of your property stamp fee, your contract will be annotated by us in the Land Registry and your rights of the property will be secured.
- At the final stage; on behalf of you, the application to the Council of Ministers which is required to be made in accordance with the TRNC laws, will be made on your behalf and all the necessary permissions will be filled on your behalf. At the end of this stage you will be receiving your deed in your name.
Documents to be provided for these Transactions:
- The power of attorney given to us from the notary public in accordance with the TRNC laws
- Criminal record certificate taken from your home country within the last one year
- Passport photocopy
- Necessary Lawyer fees
Taxes to be paid when buying a house in accordance with TRNC laws
- Postage fee of 0.5% of the sales price (at the signing of the contract)
- VAT payable at the amount of 5% of the sales price (3 months before delivery)
- Transformer contribution (varies for each site) (3 months before delivery)
- Electricity and Water meters deposit to be paid when due (these will be paid to the relevant institutions)
- Title deed transfer expenses
After the last amendments made in accordance with the TRNC laws; foreigners can obtain a residence permit from the house they have purchased in Northern Cyprus, depending on the application for a title deed to be made to the Council of Ministers. In this context, it is not possible for foreigners to obtain a residence permit in accordance with the current legislation before the necessary legal procedures are completed.
1) Sales contract
2) Passport and passport photocopy
3) Certificate of residence to be obtained from the headman of the TRNC
4) Bank statement (must amount to approximately $ 20,000 as per current legislation)
5) The document showing the application to the Council of Ministers
6) Passport photo taken within the last 6 months
7) Passport page showing the entry and exit date to the TRNC or the white paper taken at the entrance
8) For children under the age of 18, documents showing the family relationship and photocopies of passports
9) Certificate of marriage within the spouse
All documents will be prepared with the original and photocopy.
It is recommended that you do all these procedures through a lawyer in order to ensure that your transactions are carried out correctly and your rights are adequately protected. On your request, we are ready to assist you in all these procedures.
To get in touch with us you may contact us via the form below