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
• Frequently Asked Questions

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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