Cyprus, Nicosia

Why is it profitable to invest in real estate in Northern Cyprus?

Updated: 4 months ago

TRNC President Ersin Tatar outlined the main areas, the development of which will be supported by power structures: tourism, construction, and real estate. It’s through these areas that the state plans to accelerate the economic growth of the country. Therefore, Northern Cyprus has a rather favorable investment climate. Conditions for foreigners wishing to invest in real estate in Northern Cyprus and the tourism sector are very favorable here. Both of these areas are considered quite profitable. Real estate brings 14% per year, and investments in hotels, casinos, or industrial facilities bring even more profit.

Advantages of investing in real estate for foreign citizens:

  • No double taxation. VAT is only 5%. The annual property tax fee is 0.3 euros per square meter. When registering the right of ownership, you pay 3% of the amount, stamp duty - 0.5%.
  • The ability to maintain the confidentiality of the origin of funds.
  • Favorable credit conditions.
  • Property maintenance is much cheaper than in other Mediterranean countries.
  • The annual increase in real estate prices makes your investment even more profitable.
  • Attracting investments and their repatriation.
  • A simple procedure for obtaining a residence permit for the whole family when purchasing real estate.
  • North Cyprus has the lowest prices compared to all Mediterranean countries. This makes it possible to invest in the tourism sector, saving on the maintenance of premises and staff. At the same time, the prices for accommodation in hotels in Northern Cyprus practically don't differ from the EU seaside resorts.
  • Support for investors at the state level, legal guarantees for the preservation of investments.

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