Conducting transactions for the purchase/acquisition of residential real estate or a plot of land

Conducting Real Estate Transactions in Northern Cyprus

• Transaction Stages
• Legal Aspects of the Transaction
• Risks and How to Avoid Them
• Conclusion

Conducting real estate transactions in Northern Cyprus is a legal process that requires careful verification and compliance with all procedures established by law. Our task is to accompany the client at every stage of the transaction, protecting the interests of both the buyer and the seller, and ensuring its legality.

Transaction Stages

Selecting the Property

Clients usually choose the property themselves or with the help of an agency. Our work begins once the property is selected and consists of providing legal support for the transaction.

Ownership Check

Before concluding the transaction, we conduct a legal check (Search) to ensure the legality of the property and the absence of restrictions.

Signing the Sales Contract

We prepare and review the contract so that all key terms — price, payment procedure and deadlines, transfer of the property — are documented and protect the interests of both parties.

If necessary, the contract can be signed remotely by power of attorney. In this case, we fully manage the process, and the transaction can be completed without the client’s physical presence on the island. More information about contract registration can be found here.

Contract Registration

The contract must be registered with the Tax Office and the Land Registry. This mandatory procedure confirms the buyer’s rights. More details can be found via the link.

Payment and Transfer of Rights

We organize the process so that payment and transfer of rights occur simultaneously. This protects the interests of both the buyer and the seller.

At the client’s request, we can accept funds to the company’s bank account and hold them until the transaction is completed. In such cases, a separate agreement is prepared that regulates the procedure for transfers between the parties, including transfers from abroad.

Legal Aspects of the Transaction

• Title availability. There are different types of titles in Northern Cyprus. We accompany transactions both for properties with ready titles and for assignments where the title is still in the developer’s name. More information about title types can be found here.

• Taxes and fees. The transaction requires payment of stamp duty, transfer tax, and a fee for submitting the application to the Council of Ministers (equal to half of the minimum wage).

Risks and How to Avoid Them

• Insufficient document verification. Without legal expertise, it is easy to encounter debts, restrictions on disposal, or other problems.

• Incomplete registration of the transaction. A common mistake is to pay only the stamp duty and consider the process complete. Registration must be finalized: all taxes must be paid and a registration number issued by the Land Registry (S.S.K.). Only this document confirms the registration of the contract.

• Challenges with assignment. When dealing with properties still in the developer’s name, it is important to correctly formalize the transfer of rights.

• Delays in transferring the property. To avoid disputes, we specify all transfer conditions in detail and monitor their fulfillment.

Turning to professionals helps minimize these risks and ensures a safe transaction.

Conclusion

Conducting a real estate transaction in Northern Cyprus is a complex process that requires legal precision and experience. We accompany the client at every stage, ensuring the protection of their interests and transparency of all actions.

DeJure Consulting will help you complete a purchase or sale correctly, taking into account all legal requirements and local practice.

Murad Gasym-zade

co-owner

REAL ESTATE Specialist in Northern Cyprus

Phone

+905391190555

Email

[email protected]

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