FAQs
Q. What documents will I require if I purchase a property in North Cyprus ?
A. You only need your passport when purchasing a properties, if you are not able to be present when your contract is signed then you will have to leave your Power of Attorney with a trustee or your solicitor so that they may sign on your behalf.
Q. Can I pay for a properties from overseas?
A. This can be done quite easily via bank transfer either via Korinia Estate Agency’s HSBC customer account or through your North Cyprus solicitor.
Q. Who will process all the paperwork for our North Cyprus property sale?
A. Korinia Estate Agency advises all of our customers to appoint an independent solicitor to handle the administration for your transaction. You may use any solicitor of your choice but we feel it is important that your solicitor speaks the same language as you do.
We can recommend a number of independent and reputable legal representatives.
Q. Can we use a UK solicitor?
A. You must use a solicitor registered with the Bench in Northern Cyprus .
Q. What additional costs are involved when purchasing properties in Northern Cyprus?
A. Solicitors fees for processing your entire purchase transaction will vary between £1000 and £1500.
Buyers tax: 6% of the valuation made by the North Cyprus Land Registry Office. Buyers have the option to pay only 3% purchasers tax for any one property in North Cyprus.
V.A.T:5% of the valuation made by the North Cyprus Land Registry Office is payable on most newly built North Cyprus properties.
Neither of these taxes are payable until you receive your title deeds.
Stamp duty: 0.5% of the property sale price payable within 30 days of signing your contracts, your solicitor will usually be able to arrange payment of this for you.
Q. Do I need to open a bank account in Northern Cyprus ?
A. A bank account in Northern Cyprus is not necessary but it can be useful for standing orders etc.
Q. Do I have to make a new will in Northern Cyprus?
A. Once the North Cyprus property is registered in your name, we advise you to make a new will as your property in North Cyprus is not covered on your original will. Your solicitor can draw up a new will for you.
Q. Can I own more than one property at a time?
A. If you do not hold a T.R.N.C. ID card (kimlik) then you may only own the title deeds for one North Cyprus property. A married couple can only hold one title deed between them.
Q. Where would I go if I wanted to buy land and have a property built for me in North Cyprus?
A. Korinia Estate Agency know many local land agents in all of the areas around Girne (Kyrenia) who are knowledgeable about what Northern Cyprus land is available and where – just tell us your requirements and we can easily find out what is available. We also know good construction companies and architects in North Cyprus who can help you plan and build the house of your dreams. Contact us for more details.
Q. I am interested in renovating an old property, can Korinia Estate Agents help with this?
A. As well as having a number of traditional Northern Cyprus ‘village style’ properties in our portfolio, Korinia Estate Agency can also recommend very good builders who specialise in such renovation work – but please bear in mind that most of these older North Cyprus properties will need a complete overhaul to bring them up to European standards.
Q. How big is a donum of land?
A. A donum is approximately one third of an acre - or to be more precise: 1,338m² or 14,400ft². Land measurements are generally calculated in donums, evleks and square feet. There are 4 evleks in each donum and 3,600 square feet to an evlek.
Q. If we buy ‘off-plan’ how will we know when our payments are due and how do we make payments to the builder?
A. The builder will notify us when a ‘payment stage’ of construction has been reached, these stages should be clear on your contract. Korinia Estate Agency will check that the payment is indeed due and if you have an email address we will send you pictures for confirmation.
We advise that all payments should be made through Korinia Estate Agency or via your solicitor.
Q. What are the costs of shipping and do you have a list of agents?
A.- Shipping costs are calculated by the cubic meter – we have a list of good agencies that we can forward to you.
Q. How long are we allowed to stay on the North Cyprus Island?
A. You are issued a 30-day tourist visa when you arrive, after which you must apply for a residents permit.
Q. Is there an International School for my children to attend in North Cyprus?
A. There are many schools in North Cyprus that follow the UK curriculum.
Q. Is there a public transport system in North Cyprus ?
A. In the Girne (Kyrenia) district there are regular mini buses (called ‘ dolmush’ ) that cover most populated areas until 7.00pm. Taxis are usually easy to find and reasonably priced.
Q. Will I need permission to live in Northern Cyprus, and if so how do I apply for this?
A. Yes, you are required to submit an application to apply for residency in North Cyprus. When you arrive on the Northern Cyprus Island you are automatically given a 30-day visa and if you intend staying beyond that date you must apply to the immigration office for a temporary residency permit.
Q. Will I be able to apply for a T.R.N.C. ID card (kimlik)?
A. After you have been a resident in North Cyprus for 5 years you may apply for a kimlik card.
Q. Where can I get help with making an application for temporary residency?
A. We can put you in touch with a local independent advisory service in Northern Cyprus that will be able to assist you.
Q. Can we fly directly into North Cyprus ?
A. At present, all flights must stop in Turkey for approximately 45 minutes.
Q. Can I pay my utility bills by standing order?
A. You can pay electricity and phone bills by standing order. Water bills can be paid in advance at the local Council in North Cyprus.
Q. Am I required to take out medical insurance?
A. You are not required and we find that most foreign buyers find the local medical care to be quite adequate and extremely reasonable.
Q. Are there tax implications in Northern Cyprus if I decided to sell up and return to my country of origin?
A. At present, your first sale is tax-free so there are no taxes to pay and no restrictions on repatriation of funds. |
