Once a property to be purchased is selected and the price is agreed upon with the seller, a sales contract is signed between the buyer and the seller, which includes the sales price, payment, conditions of the handover, and real estate details. In order to purchase real estate from North Cyprus, non-TRNC citizens are required to obtain a "Real Estate Purchase Permit" from the TRNC. The process is completed within 3 – 6 months.

In accordance with the current law, following the signing of the sales contract, stamp duty is payable at 0.5% of the contract price, and must be paid to the tax office within 21 days from the signing of the sales contract. With this, the sales contract becomes financially legal. The sales contract must also be registered with the land registry office within 21 days of its signing. The buyer must register the sales contract with the land registry office and state that the sold property will not be in the possession of any third parties in any form, and thus the property right becomes legal in terms of the law. A stamped copy of the sales contract with the stamps upon it from the tax office, must be sent to us.

When purchasing real estate in North Cyprus, only the ID or the passport of the buyer is required.

The buyer of the property is obligated to pay the title deed transfer fee of the real estate purchased. When the transfer of the deed is to be processed, the transfer fee is payable to the North Cyprus Land Registry Office. In cases when the buyer is a first-time buyer in the TRNC, the transfer fee of the real estate is payable at a 3% discounted rate of the purchased real estate’s sales value. For those who have purchased real estate previously and have previously acquired the discount, the rate is 6% of the purchased real estate’s sales value. Also payable are value added tax (VAT) and withholding tax (tax retention). The VAT amount payable is calculated at 5% of the sales value of the real estate, which is paid by the buyer. Withholding Tax (tax retention) is paid by the seller to the Tax Office. The rate payable is 4% of the real estate’s sales value, for for-profit sellers (contractors).

There are 3 types of real estate in the TRNC. TURKISH TITLE DEEDS: This form of title seed is the type of deed that was given to residences, land, and workplaces and owned by Turkish Cypriots or foreign nationals prior to 1974. EQUIVALENT (EŞDEĞER) TITLE DEEDS: The Turkish Cypriots who had to leave their real estate in the South of Cyprus and migrate to North Cyprus in 1974, were given real estate which was equivalent to the property they owned in the south, in return for the real estate they left at the Greek side by the TRNC state. Within this procedure, the Turkish Cypriots who purchased equivalent real estate signed documents stating that they renounced their lands in the south, thus receiving the titles of their "equivalent" real estate from the TRNC state. The real estate’s with equivalent title deeds are deemed as safe, so all kinds of purchases/sales can be made. ASSIGNED (TAHSIS) TITLE DEEDS: This form of title deed was given to the real estate of TRNC citizens or for people who came from Turkey after 1974 by the TRNC state, as a reward for their successful efforts during the war, in order for them to settle and continue their lives in this country. This form of title is guaranteed by the TRNC state, with the title deed holders having full ownership rights of the real estate’s.

You are required to apply to the real estate department of the relevant municipality in order to register your real estate. You can do this by applying with your stamped contract, title deed, and any other relevant documents (ID card or passport) displaying your identity information. The calculation of property tax is calculated based on the m2 of your house. In order to have electricity to the property activated, it is necessary to pay a deposit to KIBTEK, where you must apply with a stamped contract, title deed, and documentation showing your ID. In order to have your water meter connected, you must apply to the water department of the relevant municipality. To make your application, you must provide your stamped contract and documentation showing your ID, along with your real estate registration or receipt.