The Turkish Republic of Northern Cyprus (TRNC) has recently updated its property purchasing procedures for foreign buyers. These changes have significant implications for both the initial sale contract and the subsequent transfer of the title deed. The total fees payable by the buyer have therefore increased from 6% to 12% of the purchase price.

Under the new procedures, the registration of the sale agreement in official offices proceeds as follow: after signing of sale agreement by both sides (Buyer and Seller) the contract must be registered first at Land Office where the Buyer must pay %6 sale agreement price  of title deed fee, and only after that the Buyer has to pay stamp tax fee %0.5 of sale price at Tax Office. The remaining %6 of title deed fee will be paid by Buyer during transfer title deed to Buyer’s name after getting Property permission from the Ministry of Interior Affairs .

It's important to note that the VAT percentage has not changed, and remains at 5%. The buyer must pay this amount to the company at the delivery of the property.

These changes hav ...