North Cyprus property title transfer tax has been reduced back to 3%

North Cyprus Properties

New and existing North Cyprus property buyers are celebrating this month with two fabulous developments for the North Cyprus property market: the one-off 'Transfer of Title Tax' has been reduced back to 3% (it temporarily rose to 6% last year) – making it even more affordable to invest. This has been confirmed by the Director of the Tax Office and was passed on 20th November.

In addition to that, new purchasers of pre-74 Turkish Title Deed property are now being granted their 'Permission to Purchase' as individuals and no longer have to set up a company or trust purely for this reason – another great saving.

If you are already in the process of obtaining your title deed, your lawyer will be happy to update with news on the progress of transferring the deed into your name.

If you are yet to buy a real estate in North Cyprus, from now on you will be entitled to the 3% Title Transfer Tax. Read more about process of buying a property in North Cyprus here or contact us for any other aspect of purchasing property in North Cyprus. Our London Number: 07799 212425, N Cyprus number: +90533 881 9111

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