What to do if there is a contract registered only with the tax authorities when purchasing property?
Following the enactment of the "On Acquiring Property by Foreign Citizens" law dated 21.05.2024, the following steps must be completed.
Further steps after tax authority contract registration
If a property purchase contract is registered only with the tax authorities, further registration with the land registry is required by November 20, 2024.
The tax authorities may impose a fine of 1% of the property’s value for delayed registration with the land registry.
Frequently Asked Questions
In what order are taxes on property purchase paid?
First, the stamp duty and cadastral fees, followed by VAT, and finally the title transfer fee. More details can be found in our guide on property purchase taxes.
Where can I find contacts for the Northern Cyprus tax authorities?
On this page you will find general information about the TRNC tax service and contact details for all regional branches.
Who is eligible to conduct real estate transactions in Northern Cyprus?
Under the new law, real estate transactions can be conducted by companies that are members of the Northern Cyprus Realtors Association. More on the law here.
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Vadim Chernyakov
I have been working in the Northern Cyprus real estate market for 11 years. During this time, I have built one of the largest databases of secondary properties on the island. My experience and deep expertise allow me to find optimal solutions for clients, support transactions at every stage, and ensure transparency and security throughout the process.
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Born and raised in Yekaterinburg, visited more than 40 countries, lived in the USA for some time, and in 2022, moved to Cyprus. Education: Ural State University (now Ural Federal University), Faculty of Political Science and Sociology. Professional Experience: Since 2008, worked in the fields of…
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