All legal processes are handled through respectable well known lawyers on the island. As a non citizen you are entitled to purchase one piece of property on the island. The procedure are as follows
YOU DECIDE WHICH PROPERTY YOU WANT TO BUY,
WE GO TO LAWYER WHO TAKES A DEPOSIT IN ORDER TO HOLD THE PROPERTY FOR YOU. IN ORDER TO RUN SMOOTHLY YOU GİVE A POWER OF ATTORNEY TO THE LAWYER
YOU CAN EASILY TRAVEL HOME AND THE LAWYER STARTS WORKING ON THE CONTRACT FOR YOUR APPROVAL ( usually within 30 days ) .
Once you approve you sign the contract and make necessary payments.
TAXES UPON PURCHASE ARE CALCULATED ON SALES PRICE AS ASSIGNED BY LAND REGISTRY (this is usually 60% of the real selling price )
1- STAMP DUTY 0.5 % PAYABLE TO TAX OFFICE
2- V.A.T. 5 % PAYABLE TO TAX OFFICE
3- TRANSFER FEE 3 % PAYABLE TO LAND REGISTRY
There is also Water and Electricity connection charges usually about 1,000 pounds
And solicitors fee about 1,200 pounds
YOUR LAWYER APPLIES FOR REGISTRATION FOR YOUR TITLE DEED to the necessary authorities.
The finalisation of your titile deed will last for about a year.
+90 548 866 1795
+90 392 815 9909
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Address: M. Şenol Plaza No:3/8, Kyrenia, Cyprus
Office Tel: 0090 392 815 9909 Mobile Tel: 0090 548 866 1795
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