Frequently asked questions
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FAQs
It is possible to reach Customer Services of estates and movables for 24/7.
Yes. We have exchange process for car purchases and sales
After the deed transfer, residential permit obtained for a year and renewing for each year. After three years, unlimited residential permit can be possible.
Over 65 people can take unlimited residential permit right after the deed transfer.
Turkish people have to spend 11 years for working and living in Cyprus with the permission of residential and work to get Cyprus citizenship.
Turkish Deed: is called the places that used to belong to Turkish and British people before 1974. This type of deed is the most solid, unproblematic one.
Equivalent Deed: is called the deeds that brought when law of location, equvalent estate and provision of land law were on process in 1977. According to this law, people that left their estates in South that assigned to TRNC, they got equivalent estates after that process. With this equivalent deeds, mortgage loan is possible with the variant percentage of 75% from Turkish and Cypriot Banks. This has also chance to take an approval from international law, because of the reason of mentioned in Annan Plan before.
Allotment Deed: is called the places that allocated by the TRNC government. All those people who purchased, also have right for usage too. Banks do not have any mortgage loan opportunity for this type of deeds. If North and South Cyprus will come together, no one knows nothing about the consequences of these deeds. The owners with allotment deed may have problems as similar as happened in Orams Case.
In Cyprus, you always pay 10% rate of your rent as stoppage. Another taxes are not even mentioned about your estate.
North Cyprus and Turkey have an avoidance of double taxation treaty between them. By this means, you dont have to pay any taxes in Turkey beacue of your income in Cyprus.
While selling your estate council takes action on current value. If there will be any profit on that, 10% rate of stoppage has to be paid. Also income tax has to be paid too.
Annual estate taxes for flats are 100 Turkish Liras, and for detached houses, around 200 Turkish Liras.
People have right to own only one real estate if they are not Cypriot but already living in TRNC. People of Republic of Turkey have privilege status in TRNC even they have no different conditions between
European citizens or any other countries.
Every individual in one family can have purchase for their own. (Until the recent past, that was not even mentioned. If the real owner of the estate was married, they had no no chance to use it for both of them. If one person from married couple make a purchase the other one lost the chance of purchase another one. That issue was also valid also on land, flat or even a small house, the right has always been used.)If someone wants to purchase more than one property, they need to constitute higher-financed company. So they would have chance to make more than one purchase.