What to do if the title is not divided or the installment has not yet been paid off?
If you have received authorization from the Council of Ministers to purchase property in Northern Cyprus, the process is as follows.
Steps to Follow
The buyer and seller must, within 60 working days from obtaining the Council of Ministers' authorization, pay the title transfer taxes and wait until either the installment is paid off or the titles are divided.
Taxes
If 6% was paid at the contract registration, another 6% will need to be paid. If only 0.5% was paid at registration, a payment of 12% is due.
Useful Links
- More information on all taxes when purchasing property in Northern Cyprus
- Steps to follow after paying off the full property cost
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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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Author
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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