Cyprus, Nicosia

What is a sale contract in Northern Cyprus?

Updated: 3 weeks ago
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This document is standard not only for Northern Cyprus but also for any country where real estate transactions are conducted.

Регистрация недвижимости на Северном Кипре

Sale Contract

The sale contract is, in a way, an encumbrance on the property backed by your name, preventing the seller from making other transactions with your property. It also serves as a document that establishes the conditions under which the seller agrees to transfer the property, and the buyer agrees to accept it.

How to Draft a Sale Contract

Typically, contracts follow a standard form and only vary in details related to the characteristics of the property being purchased. However, whether you are drafting a document independently or reviewing a form provided by a developer, we recommend consulting with lawyers (we can suggest the firm DeJure).

Sale Contract Registration

We have described the required steps before registering the contract and the step-by-step process in the relevant article.

Frequently Asked Questions

What taxes are paid when registering the contract?

When registering the contract with the tax office and the land registry, a stamp duty and a cadastral fee are paid - 0.5% and 6% respectively. For more on taxes, read our analysis.

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

Under the new law, only companies that are members of the Northern Cyprus Association of Realtors can engage in real estate activities. More on the law.

What happens after the contract is signed?

After signing a real estate sale contract in Northern Cyprus, it must be registered with the tax office and the land registry (TAPU), an application for permission must be submitted, and the title must be transferred.

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Vadim Chernyakov
Vadim Chernyakov
Real estate expert

Our company provides a wide range of legal services across Northern Cyprus. With us, you can receive qualified assistance in real estate, legal, visa, or financial matters.

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