Frequently Asked Questions

It is not necessary to be a citizen or have a permit to own land or properties in North Cyprus.

The purchase of real estate and land in North Cyprus is not subject to any time limitations. Once registered in the North Cyprus land registry, you become the sole proprietor of the land and are granted exclusive rights to utilize the property.

Where a person resides has no bearing on their ability to buy property in North Cyprus.

It is not necessary for you to physically be present at the property site to make a purchase. We suggest that our clients hire a legal representative to handle all contractual and regulatory affairs. This ensures the protection of the buyer’s interests and a guaranteed transfer of property ownership.

Once you have paid the deposit, arrange a meeting with your lawyer who will guide you through the entire purchasing process. They will be able to answer any questions you may have and will act on your behalf by issuing a power of attorney. Together with your lawyer, we will review all aspects of the contract including the details of the property, the purchase price, payment plan, and any other agreements. Depending on the type of contract or payment plan, you may be required to transfer the purchase price or the first installment which is typically between 30-50% of the purchase price for project properties. However, before any transfer is made, your lawyer will draft the purchase contract and review all associated documents. Only when this has been completed should you transfer the sum directly to the owner or property developer or alternatively, use an escrow account held by the lawyer to safeguard against any risks. Once the legal advice and stamp fee have been paid, your lawyer can sign and register the contract on your behalf. For new construction projects, you will simply need to adhere to the payment schedule while your lawyer takes care of activities such as purchasing permits or transfer of ownership.

To obtain a specific property at a set price, one can make a deposit of 2,000-5,000 GBP for 2-4 weeks. This payment will be deducted from the overall purchase price.

Even after you have made your property purchase, BelleReve Estates remains available for all your needs.

To initiate the process of purchasing a property in North Cyprus, you only require your passport initially. However, for the purchase permit, you will later have to provide a current certificate of good conduct.

The ideal time to invest in project real estate is during the initial construction phase as this is when the selection is at its highest and prices are the most affordable. As the project progresses, the prices tend to increase, usually by around 30-50% until completion. During the construction phase, you can purchase a property based on building plans, photographs, and videos that provide a detailed and accurate representation of the project. It is also possible to view projects that have already been completed by the developer to gain an understanding of their construction quality.

Upon being listed in the land register and obtaining the title deed, the ownership of the property is transferred to you.

In the Turkish Republic of Northern Cyprus (TRNC), there exist three major categories of title deeds.

Investors can enjoy a hassle-free experience with BelleReve Estate’s complete package, which includes installation, marketing, cleaning, long and short term rental, necessary repairs, and complaint management.

The revenue generated from renting out your property will be deposited into your account either in North Cyprus or your country of origin. The rental income in Northern Cyprus is subject to a tax rate of 10% as of October 2022.

Developers are responsible for managing and maintaining common areas in residential complexes for 2 years after construction. Following this period, developers may either continue to handle maintenance and administration themselves or hire an external company to handle these tasks. The cost of these services must be shared among the system’s owners.

Securing a home loan in North Cyprus is a costly and challenging process for non-TRNC citizens. In lieu of traditional financing options, many property developers offer interest-free payment plans for their project properties. These plans typically require a 50% down payment upon receiving the keys, with the remaining balance paid off within 2-3 years. If external financing is preferred, individuals can consider using a property they already own in their home country as collateral or taking out a personal loan. Those seeking assistance can reach out to us for guidance, as we collaborate with a trusted financial service provider capable of providing aid.

As of October 2022, we anticipate a yearly rise in value of 30 to 50 percent, on average. The appreciation of a property hinges on several variables, such as demand, supply, population demographics, infrastructure, interest rates, and other factors. Claims of an 80 to 100 percent yearly increase in value are not credible and do not accurately represent the real estate market in North Cyprus.

Absolutely, resident lawyers are the only ones who possess knowledge about the legal system and bureaucratic obstacles in North Cyprus. We can connect you with our reliable lawyer who has been practicing law in North Cyprus for several years and is eager to assist you with your legal matters.

At present, selling your initial property situated in North Cyprus is exempt from any tax obligations. Moreover, unless there are any sanctions imposed by your home country, there are no limitations on transferring the funds back to your home land.

When selling your initial property in North Cyprus, there are no taxes to be paid regardless of when it is sold. However, for any subsequent property sales, a speculation tax of 2.8% (as of October 2022) will be applied.

For buying daily goods and services, the Turkish Lira is the official currency. However, when it comes to trading hard assets like real estate, British pounds are used. In Northern Cyprus, the following currencies are accepted: Euro, US Dollar, GBP, and Bitcoin.

According to current TRNC law, non-citizens are only allowed to purchase ownership of one property, up to a total area of five donums (1 donum = 1,338 m2) per household.

In North Cyprus, opening a current account is generally simple and accepts GBP, USD, EUR, and TLR. This account can be used to pay for property purchases or to receive rental revenue.

Yes, your lawyer can draft your will in North Cyprus. Please allow us to introduce you to our renowned attorney. She is happy to address your concerns and has worked in North Cyprus for a long time.

It is feasible to use a forwarding agent to import your own furniture duty-free into the TRNC while emigrating.

Pets are welcome at the TRNC. Visit Kyrenia Animal Rescue’s website (https://www.kartrnc.org/) for additional details.

Turkish Lira is accepted as payment for products and services in Northern Cyprus. Real estate and other tangible assets are traded in British pounds. However, practically places will take payments in euros. The euro is accepted as payment at all establishments in the Turkish portion of Cyprus, including restaurants, bars, specialty stores, and car dealerships.

The cost of life in North Cyprus is extremely inexpensive due to the current exchange rate, which is 1€/18.5TLR (as of 10/2022). By German standards, water, electricity, gas/diesel, and insurance are all quite affordable. In the Turkish portion of Cyprus, food is not only local and organic, but also relatively affordable. As of October 2022, a family of four may get by just fine on €2,000 per month, including all expenses like rent and all related bills, health insurance, private school, extracurricular activities, transportation, and groceries.