How to register a property in Northern Cyprus for two owners
How to register a property in Northern Cyprus for two owners
April 15, 2022 01:50

To issue a property immediately for 2 people is very simple.

And both of these people will be able to obtain a residence permit in Northern Cyprus. Although, in fact, to obtain a residence permit it is not necessary to purchase real estate. To do this, it is enough to show the government a contract, say, on a rental property and a sufficient amount in the account for living in Cyprus for a year.

We usually recommend to our customers that if they immediately need to make a residence permit, but don’t have money in their account, first transfer money to pay real estate to their account, get a residence permit, and then pay real estate with this money.

We don’t have any donation procedures. Everything is much simpler, one person transfers real estate titles to another person. If we are talking about the long-term prospect of transferring real estate titles from one person to another, in this case it will be necessary to pay a tax for the transfer of titles (is paid by the one in whose name the titles are transferred, if this is his first purchase of real estate in Northern Cyprus, and the one from whose name the titles are transferred from the first such transactions does not pay taxes at all).

And if we are talking about the possible transfer of real estate from one name to another in the next few years (1-2-3 years), it’s still easier, we will immediately plan it and you won’t have to pay any taxes. In general, we do not have a bureaucracy, everything is made very simple, the laws work clearly, the officials are very welcoming and friendly, you will like it.

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