Before arriving in Northern Cyprus make sure you have access to sufficient funds to cover the reservation deposit on a property. The minimum required in Northern Cyprus is normally £1,000 which can be paid by cash, credit card or bank transfer. Most reservation deposits to Vendors are non-refundable so it’s important to be sure of your financing before reserving a TRNC property.
When a reservation deposit is lodged against real estate in Northern Cyprus, the sale price is fixed and the unit is taken off the market for approximately two weeks until contracts can be drawn.
The current laws of the Turkish Republic of Northern Cyprus, state non-TRNC citizens can only take title to one Northern Cyprus property up to a maximum area of 0.33 Acres (One Donum) per household. Husband and wife count as one household in the TRNC.
Before the title deeds to the property can be registered in your name, you will need to have permission from the TRNC Council of Ministers. This is explained in more detail under legal and lawyers section. If you wish to take title to more than one property, or a property over one donum in area, we can give you advice on using trustees or setting up a TRNC Company to hold the title to the property for you.