Residence in Northern Cyprus by Buying Property
Getting a Residence permit in Northern Cyprus by buying a property with a 10-12-year mortgage can be the most convenient way of immigration to this country for all people. The main advantages of it include making an income through buying a property in Northern Cyprus and getting rentals in dollars and sterling pounds, buying an estate in long-term installments, and getting a permanent residence for you and your family. So, depending upon the long-lasting experiences in immigration to the top countries, Derio experts provided details about immigration to Northern Cyprus by buying the estate, which we address below.
An Overview of Residence in Northern Cyprus by Buying Property
The immigrant-friendly country of Northern Cyprus has now become one of the international destinations for further education, entrepreneurship, investment, and even a life full of comfort and well-being for every person. In recent years, the influx of Iranian immigrants, either students, investors, professionals, or business people, has increased.
As a result, finding a suitable destination for living can be a concern. Convenient residence in Northern Cyprus has become the best option for those who wants to emigrate from Iran. Here is three of them. The first option is to immigrate to North Cyprus by buying a property, which is very simple and inexpensive. Inexpensive and affordable estate with interest-free or low-interest loans has made this option cost-effective.
The second one is efficient for students. Educational residence in Northern Cyprus is suitable for young people due to the high value of education in this country, keeping up with America, England, and Canada. But at the same time, it is necessary to give your particular focus to the third option, i.e., investing in Northern Cyprus. This type of immigration is also efficient, especially for entrepreneurs and investors who intend to have a business with guaranteed international profits. The outlook and future of Northern Cyprus are very bright. Therefore one should not miss the simple methods of immigrating to this country. Still, in this part, we have specifically talked about staying in Northern Cyprus by buying a property, which is the easiest and best way to immigrate to this country. Read this article to the end and share your questions and comments with us if needed.
Terms of Buying Property in Northern Cyprus
As mentioned, getting a residence permit in Northern Cyprus by buying a property is one of the easiest ways to immigrate to this country. You can take advantage of a lucrative investment by purchasing a property in such an economically growing country, even if you do not intend to live or stay. In addition, buying a property in Cyprus is very simple, and you can quickly go through this process to immigrate to Northern Cyprus. In general, you must first submit your request for property purchase in the municipal association of this country. Then wait for the confirmation from this association, and you can buy the property. One of the essential terms for buying an estate in Cyprus is to be over 18 years old and not to own another property in this country.
You must provide documents to obtain a residence permit in Northern Cyprus by purchasing a property for yourself and your family. These documents include: criminal record clearance (of Iran and other countries), medical and health certificates (like blood tests), passports (copy and original), Bank statements, lease or property ownership documents, and bill of marriage (in original and copy) if you are married. At the same time, note that each couple can buy a property or land with an area of 1338 square meters. However, this term is ineffective for buying foreign or Turk property. In any case, experienced professionals go through the process of immigrating to Northern Cyprus by purchasing a property. Undoubtedly, Derio experts accomplish this process to the best of their abilities.
Legal Procedures for Buying Property in This Country
To obtain a residence in Northern Cyprus, you can satisfy your wants by the most straightforward and fastest possible method, that is, buying a property in this country. But you need to proceed legally and according to its principles. Therefore, in this article, we will provide you with details of the legal procedures for getting a residence permit in Northern Cyprus by buying a property:
- First, you must choose your desired property in person or online. At this stage, you should select the type of property (Turkish, foreign, Cypriot, TDM, rented, or free) and then measure your desired region.
- Contact the property owner and make your best offer. You should know that you can buy your desired property at a better price if you have a professional agent do this.
- If both parties are agreed upon, the Notary sets the sales contract and translates it into the demanded languages.
- The buyer must pay the total amount determined for the property or its first installment. (You have 10 to 14 days to do this)
- The buyer must pay the stamp for up to 21 days (to protect the buyer’s ownership rights), which is 0.5% of the total contract amount. Then the contract is sent to the Cyprus Real Estate Registry Office.
- When the government issues the necessary permits, the property deed is transferred, which differs for each type of property.
In any case, being resident in Northern Cyprus by buying property is possible only if you take the least risk and experience a profitable purchase. Therefore, it is necessary to leave all processes to the experienced experts in this field, and Derio Holding can be your best option.
Advantages of Buying Property in Northern Cyprus
Immigrating to Northern Cyprus by buying a property can be one of the ideal ways to obtain permanent residence in this country. At the same time, proper investing and choosing Cyprus for a vacation can be good options. In any case, it is necessary to learn more about the benefits of buying property in this country so that you can buy a property to stay in Northern Cyprus more confidently.
Weather Northern Cyprus
Northern Cyprus’s pristine and moderate weather has welcomed tourists and immigrants.
Economic Conditions in Northern Cyprus
This country has a growing economy and outstanding welfare. As a result, you can decide to stay in Northern Cyprus by buying a property.
Obtaining Permanent Residence in Northern Cyprus
Staying in North Cyprus by buying a property is one of the easiest ways to immigrate to this country. At the same time, you can obtain permanent residence for yourself; your spouse and children under 25 can also take advantage of it.
Security in Northern Cyprus
Crime in this country is almost zero, and their culture is very close to that of Iranians. As a result, the comfort of living in Northern Cyprus can be significant for your family.
Using The Facilities of Northern Cyprus
You can live like an ordinary and native citizen by getting a residence in Northern Cyprus by buying property. Educational, government, medical, etc., facilities in this country will be available to you after obtaining residency.
A Safe Investment in Northern Cyprus
One of the least risky investment methods is to acquire a Northern Cyprus residence by purchasing a property. At the same time, the price of the properties (land and houses) in this country is more reasonable than in Iran. You can even earn dollar income by renting out your property, which is economical.
Property Prices in Northern Cyprus
Depending on the area of Northern Cyprus where you intend to buy a property, you can find the least expensive properties. It is also essential to consider your budget and goal. For example, suppose you intend to be resident in Northern Cyprus by buying a property. In that case, you should go for a house close to your work and comfortable. But your options can be different if you have chosen this country only for vacation or investment. In any case, we will check the prices of different properties in the main areas of this country so that you can find the best option for immigrating to Northern Cyprus by buying a property or making a safe investment.
The Price of Buying Villas in Northern Cyprus
| Region | Area | Price (Sterling Pounds) |
|---|---|---|
| Nicosia | 300 m2 | 150.000 |
| Kyrenia District | 300 m2 | 400.000 |
| Famagusta | 300 m2 | 200.000 |
| Famagusta (wharf) | 300 m2 | 350.000 |
The Price of Buying an Apartment in Northern Cyprus
| Region | Area | Price (Sterling Pounds) |
|---|---|---|
| Nicosia | 70-80 m2, two bedrooms | 60.000 |
| Kyrenia District | 70-80 m2, two bedrooms | 130.000 |
| Famagusta | 70-80 m2, two bedrooms | 70.000 |
| Famagusta (Wharf) | 70-80 m2, two bedrooms | 150.000 |
Mortgage for Buying The Property in Cyprus
You can learn more about getting a residence in Northern Cyprus by purchasing a property through a housing loan given to foreigners in this country. Reputable banks in the Turkish section of Cyprus and Turkey lend mortgages to foreigners who buy property in this country with a 10 to 12-year refund period. To get this loan, you must check the property you want to buy so that it does not have a joint document and is personal. First, you have to pay the entire amount of the property and then apply for a loan in a simple and fast process.
When the property is registered in your name, you can apply for a one-year or permanent residence (renewable every year). It should be noted that the interest rate, mortgage amount, and refund period differ in each bank. To get a residence in Northern Cyprus by buying a property with the best housing mortgage in this country, you should seek advice from experts in this field. Derio team can help you find your best option depending upon its long-standing experience buying and selling property in Cyprus.
The Price of Buying and Maintaining Property in Northern Cyprus
When you immigrate to Northern Cyprus by purchasing a property, you have to pay other expenses besides the price set apart for that apartment or house, which we will examine below:
- Property purchase and sale tax in Northern Cyprus: Value-added tax or VAT is usually 5% of the total contract amount, which must be paid to the tax office within one year after the purchase. Also, 3% of the total value of the property must be paid as added value and tax exemption. This goes for buyers who buy property for the first time in Northern Cyprus. In addition, 0.5% of the property price must be paid at the TAPU office to register the contract
- Electricity, water, and sewage bills: This amount differs for each company, but it is between 1500 and 1800 sterling pounds, which you must pay at most one year after obtaining the property.
- Insurance and accommodation costs: You should consider additional charges such as insurance for yourself and your family after immigrating to North Cyprus by buying a property. On the other hand, you have to pay about 500 Liras for a one-year stay in Northern Cyprus and 1400 Liras for insurance and blood tests. You must pay this fee every year. But for permanent residence, it is necessary to contact the experts of the Derio team to give you comprehensive advice.
Difficulties of Buying Property Abroad
Buying property in Iran can cause trouble. So it is necessary to refer to experts to prevent fraud. Now, it will be different if you intend to immigrate to Northern Cyprus by buying a property that requires the presence of experienced and professional people. As a result, Derio Holding can help you purchase property with the aid of the skilled lawyers of this company and make a safe investment. So, first, you need to specify your budget and goal, and then our experts will help you for free to get a residence in Northern Cyprus by buying a property efficiently and risk-free.
Request for a Free Consultation to Buy Property in Northern Cyprus
Free consultation to buy property in Northern Cyprus is one of the services provided by Derio so that you can learn more about all the possible challenges and problems of this type of residence. As was said before, staying in Northern Cyprus by buying property is one of the easiest and best ways to immigrate to this wonderful country. You must undoubtedly be familiar with the laws of this country to ease the process of your application and contracts. Therefore, it is helpful to consult with experienced people and have an expert team do the entire process of immigrating to Northern Cyprus by purchasing the property. So click the button below right now and fill out the form so that Derio advisors will contact you as early as possible.
