Property Purchase Procedure in North CyprusThe procedure of buying home in North Cyprus is quite straightforward and not significantly different from acquiring a home in more established Mediterranean destinations. However, there are always few points to remember: Having decided on which type of property you would like to buy and reached agreement on the price, you will need to appoint a solicitor in to act on your behalf. This is called granting 'Power of Attorney', and enables legal matters such as confirmation of deeds and application to the Council of Ministers for the purchase permit to be handled on your property purchase whilst you are out of the country. Living in North CyprusLiving in North Cyprus
Moving to North CyprusIf you are moving to North Cyprus, relocating, retiring or just changing your life direction, the thought itself can be a bit daunting. No doubt about it though, the quality of life is wonderful. With lots of opportunities available, a wealth of history and beautiful places to visit, North Cyprus is heaven on Earth. The Turkish Cypriot community are approachable, friendly and generous natured people, it’s not surprising that the crime rate is low! If you enjoy dining out, you will find that there are lots of Restaurants and Bars to choose from, some with live entertainment and at great value for your money! Supermarkets are littered across the North. You can find most of the luxuries you are used to at home. Solicitors and LawyersWhen making a big investment in property and especially when investing in overseas property you should seek the North Cyprus lawyers best legal advice from solicitors and lawyers; and North Cyprus is no exception to this fact, hence the need to search for the best lawyers in North Cyprus who would look after your interests as a buyer. Health Care in North CyprusThe standard and availability of medical care in North Cyprus is high and this always seems to be a pleasant surprise for visitors and expatriates.
Property Title DeedsNorth Cyprus Property Title Deeds The Title Deeds There are three different types of Title Deeds available in Northern Cyprus:
Additional Costs When Buying a Property From North CyprusSpeaking about additional fees and charges that incur when buying property in Northern Cyprus they include lawyer’s fees which should be agreed in advance and will range around 1,000 GBP, VAT which is 5% of the property’s value based on the Land Registry Valuation and transfer tax which is 3% of the rateable value of the property (a once in a lifetime given right, usually used in case of the first purchase) or 6% – the rateable value is almost always considerably less than the purchase price. Stamp Duty is 0.5% of the contract price if it is paid within a month of signing the contract. Is it safe to buy property in Northern CyprusIs it safe to buy property in Northern Cyprus? This is a frequently asked question. The simple answer is absolutely!!!
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