Property Ownership and Title Deed in Northern Cyprus
Foreigners can obtain freehold ownership in the Turkish Republic of Northern Cyprus (TRNC) by obtaining a Title Deed (Tapu) with the Land Registry Department.
Foreigners can buy property in North Cyprus. North Cyprus’ property laws allow foreigners to buy residential and commercial properties. However, they are subject to certain regulations and procedures. All details are available in the following.
What are the title deed types in North Cyprus?
There are three types of title deeds in North Cyprus. The title deed is koçan in the local language. The types are:
Turkish Title Deed
It is also known as a Pre-74 title deed (Turkish and British). It covers properties owned by Turkish Cypriots and non-Greek foreign nationals before July 20, 1974.
Both foreign governments and the Greek Cypriot Administration recognize the validity of these titles. In Cyprus, Turkish coupon properties are the safest options for purchase.
Equivalent Title Deed
In exchange for their houses in Southern Cyprus, Turkish Cypriot immigrants from the South were granted ownership of the real estate that Greeks had possessed before 1974. It is a title deed type for these exchange properties. The Annan Plan recognizes these titles as legal under international laws.
Greek Title Deed
Purchasing a home with Greek title deeds is not advised for foreign buyers. Due to the unresolved title documents, purchasing these properties may result in financial difficulties.
How can I obtain a title deed for my property in North Cyprus?
All transactions are carried out by The Land Registry department. This is where you will apply for a title deed for property registration.
Returning to the start of the process, you choose the property you want to buy. After that, you sign the contract after agreeing with the seller. You gather the required paperwork and make all the required payments for the transfer of the title deed.
To apply, you make an appointment for the Land registry. On the appointment day, you go to the department with the seller and submit these necessary documents.
The department examines the submission, looks for unpaid taxes or building issues, and double-checks payments. If there is no problem, it transfers the deed into the buyer's name.
The duration of title deed transfer in North Cyprus takes between 1-6 months. The duration changes according to the completion of necessary paperwork and tax compliance by the parties involved in the transaction.
What documents are required to apply for a title deed in North Cyprus?
The common required documents are as follows:
- The original and a copy of the Contract of Sale
- The original and copy of the passport
- The site and seating plans
- A copy of the Title Deed
- A copy of the Stamp Duty receipt and
- Copies of identification for the parties or where the vendor is a company, the company documents
- The original Power of Attorney documents for the parties (if there is any)
Documents may change. It is recommended that you request updated information from the relevant institution.
What are the fees involved in obtaining a title deed in North Cyprus?
The average cost of a title deed transfer in North Cyprus consists of:
- Property transfer tax: 12% of the property value
- VAT: 5%
- Stamp Duty: Under 1%
- The lawyer fee is around £1000 - £1500 + (16% VAT).
Depending on the kind of property and transaction, the amounts change. These are only rough estimates.
What is the easiest way to get a title deed in North Cyprus?
The easiest way for title deed transfer in North Cyprus is to work with a property consultant. The real estate sector in North Cyprus is very popular, but the number of people who know the legal process is low. That's why it would be good to work with a professional to learn the current documents, cost, and entire process.
TEKCE checks the title deed status of all listed properties for sale in North Cyprus and other countries before publishing on the website. TEKCE lists and recommends properties that all international investors can buy with peace of mind. The company not only gets the title deed but also finds your dream home, handles all your purchases, and even helps you move in if necessary.
You can ask all your questions about North Cyprus property investment and title deeds to TEKCE real estate consultants.