FAQ

FREQUENTLY ASKED QUESTIONS

We answered the most popular questions about North Cyprus.

If you didn't find the answer here, we'll be glad to help you by e-mail.

Write us to propertiesoverseas.cy@gmail.com

I want to come/move to North Cyprus, do I need any visa?
Any citizen can stay on the territory of the Republic of North Cyprus with a tourist visa 90 days a year. When buying a property, you can apply for a residence permit. Having a residence permit in North Cyprus, you can permanently reside or come here on vacation.
What are the advantages of buying property in North Cyprus?
1. For entry no special visa is required, only the passport
2. Relative ease of obtaining a residence permit (for this you need to purchase real estate – the cost does not matter)
3. The taxation system of North Cyprus gives foreign citizens a lot of benefits
4. Minimal costs for foreign investors
5. High return on investment
6. International education / big variety of schools in different languages
7. And, of course, a wonderful mild climate
How to purchase a property with a bank loan? What documents need to be submitted?
The Developers can provide real estate loans on the security of purchased property.

The down payment on the loan is usually from 25%, the interest rate is 8-12% per annum, depending on the terms. No additional costs for registration, there is no change in the interest rate either, all payments for the entire loan term are clearly spelled out in the Contract. The right of early repayment without penalties is always provided.

To get a loan, you only need a valid passport, no certificates and guarantors are needed.

Until the debt is paid in full, you can:
✓ Live on the acquired living space;
✓ You can rent it out;
✓ Obtain a residence permit;
✓ Sell the property for which you are still paying a loan.
What is a Title Deed?
A Title Deed for real estate in North Cyprus is a legal document proving the right of ownership, indicating the number of the land plot, the size of the plot and the name of the owner.

The original Title Deed is issued to the owner (upon payment of the transfer tax, which is deducted from the total value of the property) and confirms that full ownership of the property has been transferred to your name.

Any real estate purchased abroad, and today we are talking about Northern Cyprus, must first of all be liquid. Property Titles are one of the important indicators that your property can be sold quickly in the future.
How are schools and kindergartens?
Education is one of the fastest growing sectors in Northern Cyprus.

Here, the prices for education are more affordable in comparison with the countries of Europe and the USA, but the quality of the knowledge received is no less high.

There are many kindergartens, schools, universities and colleges.

Kindergarten here is an ideal way to prepare a child for school, as well as overcome the language barrier.

Schools are divided into public and private. In the first, education is conducted in Turkish, and English is studied as a foreign language. In private schools, education is often conducted in English, Turkish and other foreigh languages are studied additionally.

Private, fee-paying schools and colleges generally cost between $1,500 and $2,500 per academic year, depending on the age of the student and the institution itself.

Although they are considered private institutions, they are overseen and approved by the local Ministry of Education and must abide by rules regarding the core curriculum, assessment, disciplinary issues, and teaching standards.
How are things going with employment in Northern Cyprus?
I must say right away that everyone who wants to work can easily find a job.
Only according to official statistics, 70% of those working in the service sector are foreigners working on work visas.

The Cypriots themselves do not particularly like to work, they mainly work in the administrative sector, so foreigners do not compete in the labor market.

For employment, you will need a work visa, which will have to be issued by the employer.
It takes up to 14 days (in rare cases, a month) to process a work visa, and all you need is a passport.

The minimum wage in North Cyprus is 11.800 Turkish lira (about 630 dollars), an employers cannot pay less according to the law. As a rule, they pay more.

With start-up capital, you can open or buy a small ready-made business - a coffee shop, a boutique, a beauty salon, etc.
How safe is it to buy a property in North Cyprus?
In the course of recent events, it is safe to say that buying property in Northern Cyprus is completely safe. All the propaganda from Southern Cyprus against the legality of titles in Northern Cyprus is just words that have not yet been confirmed in practice. Over the past 40 years (since 1974) not a single person who has bought a property in Northern Cyprus has lost the right to own their property. The Turkish government is currently paying compensation to Greek Cypriots for lost lands in 1974.

Thus, all disputes on land will be resolved. We would like to draw your attention to the fact that it is the Turkish government, and not the owner of the land in Northern Cyprus (as our colleagues from Southern Cyprus claim), that pays this compensation.

The European Court of Human Rights has announced its decision to no longer consider Greek Cypriot land claims in relation to land in Northern Cyprus and has referred all these cases to the Real Estate Commission of the Turkish Republic of Northern Cyprus (TRNC)

You can see this decision yourself on the website of the European Court of Human Rights: http://hudoc.echr.coe.int/sites/eng-press/pages/search.aspx#%7B%22dmdocnumber%22%3A%5B%22864003 %22%5D%2C%20%22display%22%3A%5B%221%22%5D%7D

The decision was made on March 6, 2010.
Is it profitable buying real estate under construction?
Buying at the construction stage is very profitable for several reasons:

— You can choose the location of the apartments. In completed projects, the least attractive options usually remain, since the best ones are always bought up off-plan.

— You can choose a payment plan - installment plan for the construction period or mortgage.

— You can choose the finishings.

— You can control the construction process.

— An excellent investment - after the completion of the construction, the properties are sold at mich higher prices.

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