Buying a property anywhere can be stressful but should also be a good financial investment.  Buying in the T.R.N.C. is no exception as long as you take your time and investigate every aspect of the property, it's location, owner and builder.

There are a few basic property related laws you should be aware of:

• A foreigner must receive permission to purchase from the Council of Ministers for a specific property before proceeding with the purchase.

• The construction company must be certified by Inşaat Encumenliği and also be registered with the Contractors Construction Union.

• A full building permit must be issued for the property before building commences (see documents you must receive for an example).

• Full infrastructure (road, electric, water, road) must be in place before work commences on the properties.

• The Estate Agent must be certified by the Interior Ministry and be a member of the Estate Agents Union and their certificate must be prominently displayed in their offices.  The Estate Agency Law came into effect on 2nd January 2008.

• Stamp duty of 0.5% of the contract sales price must be paid to the Tax Office immediately the contract is signed.

• The stamped contract must be registered at the District Land Office by the estate agent or the seller within 21 days from signing.  The buyer or their representative must not register the contract, however it is advisable to accompany the vendor to the District Land Office to ensure that it is registered.  You shoud also receive a copy of the N34A Registration Form.