Great news for real estate investors: The TRNC government has temporarily reduced the Title Deed Transfer Tax for foreign property buyers from 9% to 4%. Find out key details and deadlines.
The government of Northern Cyprus (TRNC) has officially published an important decree in the Official Gazette (Resmî Gazete) that significantly reduces the Title Deed Transfer Tax (Tapu devir harcı) for property buyers.
This temporary relief opens up excellent opportunities for international investors looking to finalize their real estate deals on the island with reduced overhead costs.
What Changed?
- First Property for Foreign Buyers: The total Title Deed transfer fee has been reduced from 9% to 4%. This breakdown consists of a 3% transfer fee, 0.5% Immovable Property Commission (TMK) fee, and 0.5% fund contribution.
- Multiple Properties: Foreign buyers purchasing a second property now face a reduced fee of 5.5%, while the fee for a third property is reduced to 6%.
- Turkish Citizens: The rate for purchasing a first or second property has been lowered to 4% (previously 6%–8%).
Key Takeaways for Buyers
- Validity Period: This temporary incentive is valid through January 5, 2027.
- Other Taxes Unchanged: The reduction applies strictly to the Title Deed Transfer Tax. VAT (KDV at 5%), Stamp Duty (0.5%), and Infrastructure/Transformer fees remain unchanged.
- PTP Requirement: Foreign nationals still require Permission to Purchase (PTP) approval from the Council of Ministers to transfer the title deed to their name.
Official Source: Official Gazette of TRNC (Resmî Gazete)
If you are considering buying property or registering your existing contracts in Northern Cyprus, now is an ideal time to take advantage of these savings. Contact ROCS Global team for expert assistance with your transactions.
