How to Register a Sale and Purchase Agreement?

Purchasing real estate is a rather nerve-wracking process, primarily due to the transaction amount. Here's what you need to do when acquiring property in Northern Cyprus.

• Steps to Take Before Contract Registration
• Registration of the Sales Agreement in Northern Cyprus
• Frequently Asked Questions About Purchasing Property in Northern Cyprus

Steps to Take Before Contract Registration

If you are purchasing a new apartment from a developer, the contract is signed with the construction company.

If you are purchasing property on the secondary market, you need to check if the previous owner's contract has been registered. If it has, you need to unregister it before registering the new contract.

Regardless of whether you are purchasing property from a developer or on the secondary market, we recommend consulting with a lawyer experienced in the relevant field to negotiate the contract.

Registration of the Sales Agreement in Northern Cyprus

This process consists of several steps.

1. The contract, agreed upon and signed by the parties, should be submitted to the Land Registry Office for property valuation.
2. After receiving the valuation, you need to pay the stamp duty of 0.5% at the tax office.
3. You will also need to pay a property acquisition tax of 6% of the assessed value. This can be done at the tax office if you have a bank card or at a bank branch if you have cash.
4. One copy of the contract is submitted to the tax office, and you receive a certified copy.
5. This copy is then submitted to the Land Registry Office.
6. Upon receiving the registration number (SSK - satis sozlesme kaydi) from the Land Registry Office, you will need to pay a registration fee (up to 1000 Turkish lira).

Frequently Asked Questions About Purchasing Property in Northern Cyprus

Where should the stamp duty be paid?

The stamp duty should be paid at the tax office in the location where the property is being acquired. Here is a list of tax office addresses in Northern Cyprus indicating their respective zones.

Who is allowed to engage in real estate transactions in Northern Cyprus?

According to the new law, only companies that are members of the Northern Cyprus Realtors Association are allowed to engage in real estate activities.

How can lost property documents be recovered?

There are several ways: contacting a lawyer, the land registry, or the developer. We have discussed the pros and cons of each method here.

If you would like to receive consultation regarding the purchase of property in Northern Cyprus, please contact our specialists at +905391140555.