Once you have selected a property, you need to hire a solicitor to represent your interests during the purchase.
The TRNC legal system is based on the British legal system. Contracts (Contracts of Sale) in Northern Cyprus are drawn up and signed with the assistance of a solicitor having the license for practicing law, issued by the competent authority in TRNC.
It is the solicitor's duty to protect the buyer's interests and accommodate all terms of the Contract to avoid disputes. The solicitor is responsible for verifying the legitimacy of the transaction and preparing the documents necessary for transferring ownership of the property to the buyer's name. During the transaction, the solicitor checks and verifies the authenticity of the documents related to the property (land title, title establishing and approval documents).
It is important to remember that after signing the Contract of Sale, it has to be registered with the Land Registry of the TRNC. This procedure must be completed no later than 21 days from the date of signing the Contract of Sale. The registration of the Contract of Sale secures the property object from any illegal actions of the Seller (e.g., resale, pledging, etc.).
Once the Contract of Sale has been registered with the Land Registry (even before the full transfer of title), you are fully entitled to dispose of the property object at your discretion, namely: live there, rent it out or sell it, if necessary. Moreover, if the real estate object has been commissioned, and the Contract of Sale registered with the Land Registry, you have the right to apply for a residence permit.
Further, the solicitor prepares the entire package of documents and submit them to the Council of Ministers of the TRNC to get permission to transfer the Title Deed. If the entire process of preparing documents and purchasing the property is conducted by highly qualified specialists (solicitors), there won't be any impediments to obtaining the permission.
After receiving permission from the Council of Ministers and paying taxes and fees, the Title to the property and land is transferred to the buyer's name. The process of obtaining permission and transferring the title takes approximately 4 months to 2 years.
If necessary, the solicitor can act on behalf of the buyer under a power of attorney, representing the buyer's interests in all competent entities regarding obtaining permissions and other documents required during the transaction.
The cost of legal services in Northern Cyprus varies depending on the service package and qualifications. The full range of services is around £1,500. Payment for legal services is made in full or partially upon signing the Contract (depending on the agreement of the parties).
We cooperate with the best legal advisers (solicitors) in Northern Cyprus, which ensure fast and secure purchase procedure.