What are the necessary investment and relocation guides to North Cyprus?

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How much do you know about Northern Cyprus?

Cyprus is the third largest island in the Mediterranean. It covers 9251 km2 out of which North Cyprus occupıes 3242 km2. Nicosia is the capital city, and it is the only city in Europe that is still divided. Aphrodite is said to have been born in the Mediterranean waters off the coast of Cyprus, according to folklore. The Turkish Republic of Northern Cyprus was declared an independent state on November 15, 1983, and Turkey currently recognizes it. Its population is estimated to be around 400,000 people. Turkish is the official language, and the Turkish lira is the official currency.

Because the island was a British colony until the 1960s, traffic is directed to the left, as it is in the United Kingdom.

The majority of real estate and automobile transactions are carried out in British Sterling. Because English is required in schools, almost everyone speaks it.

What are the benefits of investing in North Cyprus?
  • North Cyprus has a long history. There is a very low crime rate stretching back to the Phoenicians, Romans, Venetians, Lusignan, British, and Ottomans, with 330 days of sunlight and pristine beaches. It is been called one of the safest countries on the planet.
  • There is not any pollution in the air…
  • There are accredited universities and international colleges to choose from…
  • In comparison to Europe, there is very little traffic, a high literacy rate, and practically everyone understands at least one foreign language.

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Where should invest or purchase permanent residence?

Famagusta is a town in the province of Gazimağusa

Famagusta is notable for its harbor and old town, which are both encompassed by Venetian walls. Cleopatra is claimed to have received the city, which was originally known as Arsinoe, as a gift… It is a university town where students come from all over the world to further their studies. It has tranquil districts like Tuzla and Yeniboaziçi, both of which are noted for their villa areas, and practically everyone speaks English.

Near East College and Doğa College are two of Famagusta’s most prestigious institutions. For children aged 3 and above, both offer English language education as well as IGCSE/AS and A level preparation.

Famagusta is also home to Eastern Mediterranean University, a well-known and accredited university with over 15000 students. The city is also home to three other approved colleges in addition to EMU. The Turkish Maarif College is a public college in Famagusta.

The Famagusta shoreline is one of the most attractive in North Cyprus, with its lovely sands. From mid April until late October, swimming is allowed. Glapsides Beach, Silver Beach, and Kocareis Beach are among the well-known beaches. Palm Beach is one of Famagusta’s most popular sites, as it sits just in front of the Varosha Ghost City, which has been closed since 1974 and offers both white sand and history.

The famous Othello tower, where Shakespeare wrote his stories, is located in Famagusta, as is Lala, a miniature of Notre Damce de Rems in France. Salamis, a historic city, and the church dedicated to St Barnabas, which is also in Famagusta’s territory, are both in Famagusta.

Because rents are high due to a large number of students, properties in the city center are a good investment. While holiday homes, investment apartments, and even elegant villas are famous in tranquil regions like Tuzla and Yeniboaziçi (known as citta sluggish), you may find them in Famagusta’s little neighborhoods. Famagusta is home to two crossing points that allow European passport holders to go to South Cyprus, as well as hotels noted for their beaches and casinos.

North Cyprus has a high literacy rate. All children are required to attend school for a period of 12 years. If you have a North Cyprus residency permit, your child is eligible to attend school on the island. Local schools are free of charge, although the language of instruction is Turkish. Many private universities offer English classes and prepare students for IGCSE, AS, and A levels, as well as American exams if necessary.

The only free college that teaches in English is TMK, where students apply for a test at the end of elementary school and can pass with high grades. There are many excellent English teaching colleges in North Cyprus, including Doğa College, Near East College, Levent College, English School of Kyrenia, Kyrenia American College, and the Public School of TMK, which accepts students but only after passing an entrance exam.

İskele

İskele is situated at the crossroads of the main routes Famagusta-Karpasia and Ercan-Karpasia. It is famous for its beachfront, which is a beautiful mix of green and blue. The district was known as Trikomo until 1974 when it was renamed İskele. The locals earn money from tourism, government services, labor, farming, fishing, and crafting. The city has a connected section called Bafra, which is known as “little Las Vegas” because of its 5 star hotels and casinos.

The Karpaz Peninsula is also connected to Famagusta, which is home to caretta caretta turtles, and the Golden Beach, a kilometer-long stretch of undeveloped beach. You can feed apples to the famous Cyprus wild donkeys and pay a quick visit to the famous Apostolos Andreas Church, which is known for its miraculous water. The well-known Yacht Marina is also located in Erenkoy. King Hill, a Bronze Age settlement from the 13th century, is located near Kaleburnu on the Karpaz peninsula’s south shore.

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Long Beach, a 2,5-kilometer beach with crystal clear water and white sand, is located along the coast. This neighborhood is regarded as the most popular tourist attraction for both travelers and investors since there are numerous new projects offering a variety of amenities such as pools, aqua parks, children’s parks, and even child daycare. Because of the proximity to the beach, many investors buy houses and rent them out for the season, while others acquire these houses as their second homes.

The prominent economy magazine Forbes has named İskele Long Beach as one of the finest shoreline investment locations for 2021. Another district of İskele that is well-known among investors and second-home purchasers is Boğaz, where you can purchase rental-guaranteed flats as well as vacation homes. Boğaz is known for its crystal clean beaches, fisherman’s harbor, and eateries.

Kyrenia

Kyrenia (Girne) is one of the major tourist resorts on the coast of North Cyprus and is known as the Portofino of the Middle East. It also has some beautiful sandy beaches. Despite its tiny size, Kyrenia’s tourism industry is well-developed, with a large number of hotels and casinos. During the summer months, the Old Harbour is frequently bustling with visitors from the Nordic nations, Russia, and the United Kingdom, who come to enjoy the many riverside bars and restaurants. There is a vast area with numerous British ex-pats.

Bellapais, Kyrenia Castle with its internal museums is one of the must sees of Kyrenia, as is St Hilarion Castle, which is thought to be the major model for the Walt Disney Castle. The city center of Kyrenia offers a lot of towering buildings for bustling city lovers with a great perspective of the ancient Roman port. Driving west, however, places like Lapta and Alsancak with smaller houses and villas are often favoured by relocators returning to or moving to North Cyprus. Driving east, you will come across Bahçeli or Esentepe, which are the most popular areas for investors and second home buyers.

There are no high structures in this neighborhood due to the construction limit, and all properties enjoy a wonderful sea and mountain view, as well as being known for the Golf Club for golf enthusiasts.

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Nicosia / Lefkoşa

Nicosia is Northern Cyprus’ capital and Europe’s last divided capital. All ministries and major corporations have their headquarters in the city, which is also known for its universities, including Near East University and Cyprus International University. The private colleges Levent College, Near East College, Necat British College, and the state college Maarif College are all located in Nicosia.

The city is largely chosen by the working class and large corporations, and most homes are sold to foreigners solely for investment considerations. One of the benefits of living in this city is the ability to cross to the south on foot, as Lefkosa is one of the walking cross points. The city contains an old city encircled by Venetian Walls with several attractions inside, including the Buyuk Han (ex-Ottoman Dormitories now utilized as shops) and the famous Arasta shopping district, which connects North Lefkosa and South Nicosia.

The former St Sophia Cathedral, the current Selimiye Mosque, and Bandabuliya, the shuttered bazaar. While the newer portion of the town is largely crowded with high-end stores, restaurants, and bars, as well as city hotels for conferences and incentives, as well as casinos, the older part of town is mostly deserted.

What are the documents required to purchase a home in North Cyprus?

The buyer must bring a police criminal record from his home country (no more than 6 months old) that has been translated and certified by a TRNC official or the Turkish Embassy in their home country. This document is required for everyone who needs their name to appear on the title deed. A passport with a minimum validity of 6 months is also required.

Procedures to follow once you have made the decision to acquire a property in North Cyprus:

A sales agreement between the buyer and the seller is required to purchase the property. The contract is ratified by the Tax Office with stamps after it is signed. A stamp tax of 0.5 percent will be charged. The contract is registered with the title deed office when the stamp duty is paid. Once the property has a minimum 50% payment, an application will be sent to the Ministry of Internal Affairs for approval to obtain a title deed. (This is optional; buyers can keep the property if they sign the sales contract). There will be a 3% tax on first-time purchasers after the permit is granted, which will take 3-6 months. Second-time customers get a discount of 6%.

Healthcare system in North Cyprus

In North Cyprus, public hospitals are free of charge; however, private hospitals are also available. All residents with a residency permit are required to obtain medical insurance, which may include coverage at particular hospitals. There are also private insurances available that can be paid yearly or for emergencies.

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