What to do if you only have a signed contract when buying property?
Following the enactment of the “Real Estate Acquisition Law for Foreign Nationals” on 21.05.2024, you will need to go through the following steps.
Next steps after signing the contract
- The contract must be registered with the Land Registry and Tax Office by November 21, 2024
- During registration, a stamp duty of 0.5% must be paid
- For contracts that are not registered within 21 days of signing, the stamp duty will be 1.5%
- Submit an application for purchase permission to the Council of Ministers
- Pay the cadastral fee (6%) after obtaining purchase permission for title transfer
Frequently Asked Questions
What is a title deed, and why is it needed?
The title deed (from English Title Deed) or kochan (from Turkish Taşınmaz Mal Koçanı) is a document issued by the Land Registry that confirms property ownership rights.
In what order are property purchase taxes paid?
First, the stamp duty and cadastral fee, then VAT, followed by the title transfer fee. For more details, see our guide on property purchase taxes.
Where can I find contact details for the tax office in Northern Cyprus?
On this page you can find general information about the tax office in the TRNC as well as contact details for each regional branch.
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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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