Frequently Asked Questions
Some of the services of Cihanara Company are:
- Free airport transfer
- 6 days of free accommodation
- Recreational tours
- Shopping mall tours
- Accompanying all stages of purchasing and obtaining accommodation
- Advice on bank loans
With a 6-day inspection trip, we help you to buy your property and experience a safe investment in North Cyprus with us.
Cihanara Company is the best legal representative of our compatriots in North Cyprus. It provides the best services in the field of buying properties and investing in North Cyprus. The full services in purchasing properties, customer orientation, warranty and after-sales service are valid. Moreover, Cihanara provides a complete collection of properties with the best prices.
After the official registration of the property in the name of the buyer, it is necessary to prepare some documents.
Documents you will need:
Photo and copy of passport and local observer’s certificate for accommodation. A copy and original sealed contract in the Health Certificate Registration Office. It includes AIDS and hepatitis blood test.
After completing these documents, you will go to the Immigration Office in Nicosia.They will stamp a one-year residence stamp in the passport of the buyer. They will also give you a pink residence booklet with a photo and details of the buyer.
It is first necessary to take the steps of obtaining a purchase permit by a legal lawyer. It takes at least 6 to 9 months. After receiving the purchase permit, the document will be registered in your name. Before receiving the purchase permit and only with the purchase contract, you can apply for residency.
Reserving a property in North Cyprus:
After selecting the most suitable property, you have to pay a reservation amount of at least 1000 pounds. This reservation is valid for one to two months. You can pay the full amount or pay it in installments to receive the property purchase agreement. Then, you can apply for residency.
The minimum purchase of property in North Cyprus is between 27,000 and 30,000 Pounds.
Fortunately, there are a variety of payment methods in North Cyprus. They depend on the type of property and the manufacturer.
- Cash: With significant discounts or some of the most necessary furniture as a gift
- Installments: interest-free for up to 5 years or small interest for up to 10 years
- Bank loans
North Cyprus real estate rental market:
Due to the large number of immigrants, tourists and students in North Cyprus, the real estate rental market is dynamic. In North Cyprus, houses are easily rented for long-terms and short-terms. Also, the number of people who want to have an apartment or a beach villa has increased dramatically. Above all, North Cyprus is one of the fastest growing and most lucrative markets in the entire Mediterranean.
Why North Cyprus?
In recent years, demand for property in Cyprus has increased five fold. The properties of North Cyprus have reasonable prices and are facing annual growth. Buying property in North Cyprus is based on a stable currency such as the British pound. Administrative process of registering a document and obtaining a residence permit is simple and easy.
The real estate market in North Cyprus is currently booming. More importantly, British and European buyers are investing in North Cyprus. Now, it is the best time for investors to invest, as North Cyprus real estate is currently really affordable.
Getting a residence permit by buying a property in North Cyprus is one of the best and easiest ways to get a residence permit in North Cyprus.
Getting a residence permit through investing and registering a company is another way. After registering with the company at the registry office, the applicant can apply for residency.
Study residency through studying is also possible by enrolling at any of the universities in North Cyprus.
People under the age of 18 and over the age of 60 do not need a residence permit to stay in North Cyprus. In other words, they can stay on the island as long as they want.
With its 10,000-year history and rich culture, Cyprus attracts more than 2 million tourists annually.
In North Cyprus, more than 101,000 students are currently studying at 16 universities. Eighty-seven percent of them are international students from 135 different countries. The number of international students has increased this academic year.
Studying in North Cyprus has the great advantage of entering the labor market and migrating to other countries due to having several internationally recognized universities.
The cost of living in North Cyprus is very low compared to European countries in the Mediterranean and similar countries.
White sandy beaches, numerous mineral springs, antiquities, mountain walks and water sports provide you with the best vacation. In addition, the warm and welcoming locals, delicious Mediterranean cuisine and low cost of living make it a beautiful and special holiday destination.
There is no cloudy sky, rainy or cold weather in Cyprus, and it is mostly sunny. In fact, you will experience more than 300 sunny days a year.
The majority of people in the Republic of North Turkey are Sunni Muslims, a minority of Orthodox Christians and Christians of the Maronite Church.
The native population of North Cyprus is 326,000
North Cyprus is the fifth safest country in the world. North Cyprus is known as a safe and friendly place compared to other countries.
Cyprus is the third largest island in the Mediterranean Sea. It is located in the south of Turkey and leads from the east to the Middle East, from the west to Greece and from the south to Egypt.
In North Cyprus, lands are measured based on Donum. One Donum is equivalent to 1,338 square meters and 4 Evleks.
Each Donum is equivalent to 1/3 acre.
It is mandatory to use a lawyer based in North Cyprus to oversee the purchase process. However, you can choose a lawyer of your choice or we can offer our own lawyer’s services to you.
The extra costs aside from property price in Northern Cyprus :
- Lawyer fees which is around 1200 GBP
- The transfer fee: The amount of this fee is 6% of the value of the property. At the moment, the buyer has the right to a one-time discount and payment of the fee at rate of 3%.
- VAT of the property which is 5% and only payable for new properties.
- Contract Stamp Duty which 0.5% of the property price. You should pay it within 21 days of signing the contract.
In order to finalize buying property in North Cyprus, necessary authorities should permit such purchase. This process will usually take around 6 months. However, you don’t need to wait this long to finalize the purchase.
You need to apply for residency permit in North Cyprus. Upon arrival, you will get a 90 days visa. In the case of residing for longer term, you should apply for temporary residency permit. Therefore, it extends your visa.
North Cyprus banks are well reputed and they offer wide varieties of banking services. Numerous local and Turkish banks are available on the island. A wide range of ATM machines are also available. All the banks do offer Credit/Debit cards as well.
In North Cyprus, international telephone system is available and mobile coverage also covers all areas. ISPs also offer fiber optic Internet services.
The official currency of North Cyprus is Turkish Lira. You can spend Pounds, Euros and Dollars in North Cyprus as well.
The official language in North Cyprus is Turkish. However, English is the second language and the majority of people can speak English.
Most common questions
1. What is the first step in buying a home in North Cyprus
At first you should to decide exactly what you are looking for. you should first choose the most suitable option according to your needs. then select the reliable agencies.
2. Is it possible to get a residence permit in North Cyprus by buying a property?
There are several ways to in get a residence permit in North Cyprus but the best and fastest way to get a residence permit in North Cyprus is to buy a property.
3. Is it affordable to buy a property in North Cyprus?
Property prices in North Cyprus are more reasonable than in other Mediterranean countries. Coastal property prices start at 40,000 Pound?
4. How much is VAT on property in northern Cyprus?
New build properties in North Cyprus are charged a VAT of 5% of the property price.
5. Is buying property in North Cyprus a good investment?
Before to the Corona Pandemic, property growth in North Cyprus ranged from 8% to 16%.
6. Can I get a loan to buy a property in North Cyprus?
Yes, banks pay up to 50% of property price as a loan with 5 to 13% interest. some companies offer loans with 5 year interest free installments or with longer payments with interest rate of 5 to 12%
7. Do i need a visa to go to North Cyprus?
Upon arrival, you will get a 90 days visa. In the case of residing for longer term, you should apply for temporary residency permit.