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Permission for Property purchase

by admin on December 12, 2019
Permission for Property purchase
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According to the laws of the TRNC a foreign citizen has the right to purchase one apartment or villa in North Cyprus. To purchase several real estate objects you need to register them for a commercial organization or for another person.

After making the decision about buying the property, you need to find a lawyer who will prepare a contract and an application for a purchase permit. The cost of legal services will be approximately 1200 £. Further your application is submitted for consideration to the Council of Ministers and the Military Committee. The time for consideration of applications for permission to purchase real estate in North Cyprus from foreign citizens is 0.5-2 years. As a result, you can get permission after signing a contract for the purchase of real estate, full payment and even moving in.

You can get an individual title for a real estate object only if you have permission to purchase real estate. Before receiving it, your ownership of the facility will be based only on the contract, and the registered owner will be the seller.

In order to prepare documents for obtaining a permit, it is necessary to submit to the Ministry of Internal Affairs of the TRNC a certificate of the buyer’s criminal record translated into English language and a notarized.

Reasons for refusal to issue a permit to purchase real estate:

– ownership of real estate in North Cyprus by the applicant’s spouse;

– the applicant’s criminal record;

– location of the property near military warehouses or strategically important public facilities.

Also, titles for the land, located near military facilities, are not issued by individuals and small private construction agencies. For large investors, exceptions can be made.

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