What you need to know before buying property in Northern Cyprus

There are several basic laws relating to real estate, to be aware of:

* A foreigner must obtain a permit to purchase by the Council of Ministers to designate the property before making the purchase.

* The construction company should be certified and registered Inşaat Encumenliği with Soyuz Builders.

* Complete a building permit must be issued before construction begins.

* All the infrastructure (roads, electricity, water) must be in place before construction begins.

* Real Estate must be certified by the Ministry of Internal Affairs - the certificate should be presented is available at their office.

* Stamp duty 0.5% of the sale price specified in the contract must be paid to the tax office as soon as the contract is signed.

* Contract with the stamp must be registered at the Land Committee of the real estate agent or the seller within 21 days from the date of signing. The purchaser or his representative shall not register the contract, but it is recommended to accompany the Seller to the Land Committee to ensure that the contract is registered.

You will also need to obtain a copy of the registration form N34A.

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