If a previous owner can proove a legitimate claim to a plot of land in Northern Cyprus, they must appeal to the Immovable Property Commission established based on the rulings of the European Court of Human Rights. If after a thorough audit the Commission accepts the claim, Turkey will compensate the former (Greek) owner with an amount equal to the land's or property's value as determined by the expert valuation report.

Please find the public statement of the Commission below:

The Immovable Property Commission was set up under the Immovable Property Law (No. 67/2005) in accordance with the rulings of the European Court of Human Rights in the case of Xenides-Arestis v. Turkey. The purpose of this measure was to establish an effective domestic remedy for claims relating to abandoned properties in Northern Cyprus.

For the years 2006 to 2024 Turkey has awarded compensation to former - mostly Greek - owners amounting to a total of GBP 367.431.431,- (367 million Great British Pound).

The Immovable Property Commission was established in 2006 by Turkey based on EU rulings and addresses property claims in Northern Cyprus.

The Immovable Property Commission officially began its activities on 17 March 2006, upon the appointment of its President, Vice-President and members by the Supreme Council of Judicature among persons nominated by the President of the Turkish Republic of Northern Cyprus and re-established in accordance with the Law No. 67/2005. The Commission consists of Ms. Növber Ferit Veçhi, President, Mr. Oktan Türe, Vice-President, Mr. Bengü Ünsal, Mr. Erhan Berksel, Ms. Christiana Kruger, Mr. Daniel Tarschys and Mrs. Saskia Yorucu members.

• VAT: 5%
• Contract Registration Title Deed Tax: 6 %
• Stamp Tax: 0,5%
• Lawyer Expenses: GBP 1.500 to GBP 2.000
• Notary Fees: around GBP 25
• Title Deed Transfer Tax: 6 %
• Mortgage Fees (if applicable): usually no mortgage granted for foreigners
• Electric Distribution Fee: GBP 2.500 to GBP 3.000
• Utilities & Subscriptions Fees: GBP 150
• White Goods: around GBP 2.000
• Monthly Service Fees (aidat): around GBP 100
• Annual Property Tax: 3 Turkish Lira per m2

• Legal Representation
  Having a reliable and trustworthy lawyer in Northern Cyprus is essential. TIMONDRO company lawyers will guide you through the formalities and oversee the application for the permission to purchase a property in Northern Cyprus.
  
• Property Ownership Limitations
  Foreign nationals are allowed to own one property only in Northern Cyprus, limited to a single land of up to 1.338 sqm ("1 dönüm") or a house whose plot does not exceed 6.691 sqm.
  
• Purchase Permit
  In Northern Cyprus foreigners must apply to the Council of Ministers for a permission to purchase. The title deed is granted only after obtaining the permission, which can take 12 to 18 months. However, once you sign a property sales contract and register the sales contract at the land registry, you will have comprehensive property rights until you receive your title deed.
  
• Title Deed ("Koçan")
  North Cyprus properties have three types of title deeds - Turkish Coupon (Türk Koçanı), Equivalent Coupon (Eşdeğer Koçan), and Greek Coupon (Rum Koçanı). Due to potential legal complications, foreign buyers should avoid properties with Greek Coupon deeds. The TIMONDRO team will guide you to make informed and profitable investment decisions.
  

• Turkish Title Deed
  It is also known as a "pre-74 title deed" (Turkish and British) or "Turkish Coupon". It covers properties owned by Turkish Cypriots and non-Greek foreign nationals before July 20, 1974. Both foreign governments and the Greek Cypriot Administration recognize the validity of these titles. In Cyprus, Turkish coupon properties are legally safe options for purchase.
  
• Equivalent Title Deed
  In exchange for their houses in Southern Cyprus, Turkish Cypriot (immigrants from the South to the North) were granted ownership of the real estate that Greeks had possessed before 1974. It is a title deed type for these exchange properties. The Annan Plan recognizes these titles as legal under international laws. In Cyprus, properties with an "Equivalent Title Deed" are legally safe options to purchase.
  
• Greek Title Deed
  Purchasing a home with Greek title deeds is not advised for foreign buyers. Due to unresolved title deed issues, we do currently not advise purchasing such a property.
  

The Double Taxation Agreement (DTA) with Cyprus does not extend to Northern Cyprus due to its separate administration since 1974. Northern Cyprus is considered a temporarily agreement-free zone and has been viewed as an attractive investment location for about 10 years due to substantial tax benefits, political stability, economic growth, tourism, universities, and ongoing efforts to resolve the Cyprus conflict. In 2023, Greece and Turkey have also started to foster closer relations, initially triggered by Greece's significant solidarity during the earthquake in Southeast Turkey. As a first result of this rapprochement, Turkish tourists can now more easily obtain visas for touristic stays on the Greek islands.

• It ensures that the developer/owner cannot sell the property to another (third) party.
• The developer/owner is not allowed to take out a mortgage on the property or enter any other restrictions in the land register.

As a result, registering the sales contract protects buyers purchasing property in Northern Cyprus due to the legal consequences associated with the registration. With the registration, the land registry is informed about the "completed" sale of the property. From this point on without the buyer's consent, the seller cannot make any changes (e.g., changes to the parceling in project modifications) or resell regarding the property and the underlying construction project or the respective land.

• If both parties agree on the draft terms, the lawyer usually requires a power of attorney from the buyer (if the buyer does not stay in Northern Cyprus until the completion of the purchase).
• The lawyer drafts the sales contract and sends it to the buyer and seller.
• The buyer pays the reservation fee for the property and the lawyer fee.

Ensure that the land is owned by the project development and that the building permits for the project exist. Verify the owner (developer) information. Our advice is to consult with property experts that can help assess the project.

When selecting a property expert ask how long the company exists, check the office location of the agent. Check on the internet for how many years the domain of the agent has been active (if less than five years do not work with them). Ask for the professional experience of the agent before working in real estate.

Google the full name of your real estate agent extensively in his or her home country and read any articles that you can find. Often the real estate industry attracts excellent salespersons with a shadowy background.

When you do decide to purchase a property make sure that you have something in writing that prooves which real estate agent helped you find the property. This way if you face any issues later on you can get a legal hold of the real estate agent.

No, foreign investors need to pair up with a Turkish Cypriot, as 51% of the shareholders must be Turkish Cypriots. They cannot build a company solely to buy a property in Northern Cyprus. We offer the set up by utilizing our company lawyers that are Turkish Cypriots.

Discover the gateway to your dream Mediterranean lifestyle in Northern Cyprus.

• 6% real estate tax are incurred when the sales contract is registered at the Tapu (Land Registry).
• 0.5% stamp tax are incurred when the sales contract is registered at the Tapu.
• 6% is incurred when the title deed is transferred to the buyer (new owner).
• 5% VAT is incurred when the title deed is transferred to the buyer (new owner).
All taxes and VAT are to be paid at the tax office. The tax office documents the successful payments by stamping the purchase agreement. The Land Registry completes the registration and title deed transfer based on the stamped documents from the tax office.