PURCHASE PERMISSION

 

While buying land or housing from TRNC and / or making long-term leasing transactions, there are important issues to be followed in accordance with the laws and important issues that should be taken into consideration in order to avoid any grievances.

Our institution, which is the legal representative of the construction sector, underlines some of the important issues mentioned below in order to guide the people who want to invest in this direction in our country.

Legal Basis
Within the framework of the Law No. 52/2008 on me Immovable Property and Long-Term Leasing (Foreigners) inde adopted in the merger of the TRNC Republic Assembly dated 10 November 2008, foreign natural or legal persons are subject to the approval of the Council of Ministers, provided that the official transactions and legal applications are made. depending on the right to purchase immovable property from our country or have the right to long-term lease.

Foreigners who will buy or rent immovable property in TRNC are required to apply to the Ministry of Interior in order to purchase immovable property and legally have the right to that property and to obtain the approval of the Council of Ministers as a result of the investigations to be made by the Ministry. The approval process varies according to the nature of the application and is usually completed within 6 to 12 months.

 

Legal Restrictions
Foreign natural or legal persons may own or rent long-term real estate provided that they comply with the legal limits and perform the necessary legal procedures (Articles 8 and 9 of the relevant law).

In long term lease;

The lease period can be at least 10 (ten) years and at most 99 (ninety-nine) years,

If there is construction on the immovable property to be acquired through long-term rent, the relevant conditions must be included in the long-term rental agreement in full detail,

If the immovable property to be rented is empty land, the surface area shall not exceed 1 (one) decare (14,400 square feet or 1,338 square meters). If there is 1 (one) residence or 1 (one) apartment in the land to be rented, the area cannot be more than 5 (five) acres, and no second housing can be built on the land to be rented.

In purchasing;

A foreign national may purchase land up to 1 (one) acres (14,400 square feet or 1,338 square meters), provided that the land is empty.

If there is housing in the land to be purchased, they may purchase land up to 5 (five) acres provided that there is 1 (one) housing. If 1 (one) housing will be purchased within a Site, there is no space limitation for the land in question.

A foreign national has the right to purchase only 1 (one) residence or apartment. Husband and wife with the same surname is treated as 1 (one) person and the right to purchase is unique. Children do not have any additional rights other than those of the parents.

The right of a foreigner to purchase a house in an empty detached land, a detached land with housing or a site-style settlement is unique, no right to build or buy another house / apartment.

 

A foreigner may transfer, sell or sell mortgage to the first and second degree blood and kinship persons who are registered in his / her rent or name by obtaining the approval of the Ministry as a result of the information and investigations of the Ministry.

Foreigners who will buy or rent immovable property in TRNC are required to apply to the Ministry of Interior in order to purchase immovable property and legally have the right to that property and to obtain the approval of the Council of Ministers as a result of the investigations to be made by the Ministry.

It is obligatory to apply and register the contracts made with foreigners who purchase or rent immovable property in TRNC within 30 days at the latest within the register of the Land Registry and Cadastre Office of the district where the immovable property is located.

TRNC laws do not allow foreigners to purchase or rent immovable property in certain regions (eg military areas) for security reasons. The legal distance applicable to the attainment of this right is 300 (three hundred) meters provided that other legal requirements are appropriate. It is therefore recommended that the persons concerned investigate the position of the immovable property before making any commitment and / or signing a contract.

In accordance with our laws, the Council of Ministers has the authority to limit the acquisition of immovable property by foreigners in special cases.

Again, according to our laws, the above-mentioned conditions regarding the acquisition of immovable property or long-term lease of foreign nationals from our country are not valid in case of partnership with a company owner whose 51% shares are TRNC citizens, but they are exempt from these restrictions and practices.

Important Considerations
It is recommended that foreign nationals should be careful about the following issues in order to avoid any victimization;

The ownership status of the property to be purchased must be learned and it must be known in advance whether the immovable property is independent or joint / shared property.

 

On the immovable property to be purchased, mortgages, lien etc. whether there is a restriction or if there are any personal declarations or circumstances preventing the sale of the immovable should be checked by the related Land Registry and Cadastre Office.

It is not recommended to work with people or companies that are reliable, specialized and not registered in the sector and / or not registered to the relevant authorities. It is recommended that the structures constructed by contractors registered to KTİMB and Construction Council be preferred.

In order to protect the legal rights between the owner and the buyer, it is recommended to certify the contract at a registered Notary Office and to obtain legal advice from a law office before signing the contract.

 

First of all, it is recommended to learn all technical specifications and details of the project related to the immovable property to be purchased, and then to sign a contract. Once the contract is signed, it should be noted that the project is binding for both parties.

If the immovable property to be purchased is still in the construction phase, it is recommended to find out whether the contractor has obtained the Construction License permits for the project.

If the immovable property to be purchased is in the nature of ‘completed land,, it should be determined whether it is a shareholding or individual property and the transfer conditions. If the immovable property is still a ‘parceling project’, it must be ensured that the Construction Permit of the contractor company has been obtained.

It should be kept in mind that in case of a dispute between the parties regarding the immovable property, it may be possible to transfer the situation to the judicial authorities under legal and healthy conditions and not to suffer any victimization by the contract which has been concluded in a correct, comprehensive and legal manner.

What is included in the total sales price of the immovable property to be purchased must be thoroughly understood and all applications and figures should be clearly stated in the contract to be concluded between the parties. Everything promised to the buyer must be included in the contract and all fees related to the contract must be paid and an official application must be made to the Land Registry and Cadastre Office within 30 days.