Northern Cyprus is an investor's dream
Northern Cyprus is an investor's dream
August 15, 2019 12:26

There is no minimum amount of investment in real estate for a foreigner.

Primary legalization: residence permit for a year.

The real estate market of Northern Cyprus looks promising compared to other Mediterranean resorts. There is still a lot of vacant land near the coast, which is being actively developed by developers. It is much easier to get a residence permit in Northern Cyprus than in many other countries.

Real estate prices are rising by 15–20% per year, and in tourist areas the incremental price can reach up to 35% from the start to the end of construction.
In case of let-put property one can count on a yield of 8–12% per year with a return on investments within about 10 years. Moreover, these returns are often enriched by a bonus in the form of interest-free installments from one year to five / six years. There are also offers of interest-free installments for ready-made real estate.

The great thing is also the total anonymity. Information about your private property on the island is confidential and is not transferred to third countries.

When purchasing a property for any amount and after its commissioning, a foreigner and his family can receive a residence permit for a year with the right of annual renewal.

The period for obtaining a residence permit is from one to three months. First, you need to make a down payment of 30–40% of the cost of the property and register the purchase and Sales Contract with the tax agency and Land Committee.
Later you will also need to provide negative blood tests for some dangerous diseases. To prolong the residence permit, one will need a passport, a real estate contract, a certificate of cash flow from the bank and a certificate from the local village head.

Money can even be transferred using cryptocurrency: many developers can help to cash it out with a small commission. In case of real estate purchase with us we will provide a specialist, who will help you go through the entire process of obtaining a residence permit.

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