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Frequently Asked Questions

Q:

How much would I pay for legal fees?

A:

The average cost of legal fees is approximately 1,250, this covers drawing of contracts and management of your purchase permit application.

Q:

How long does the purchasing process take?

A:

Approximately 12-16 months purely due to the lengthy checks that are conducted by the various government departments, throughout the purchase permit process.

Q:

Do we need a residency permit to live in the TRNC?

A:

Yes, you have to apply for a seperate residency permit after you have been on the island for three Months. As a company, we reccommend a representative, to guide you through the application, there is a charge for this, but other clients have said that it is the best money that they have spent!

Q:

Can we drive on a UK license in the TRNC?

A:

Yes you may, but only for 3 months, after that you can only drive with a TRNC license. Once you have been issued with your residency permit a local license can be administered within days.

Q:

Is the cost of living cheap in Northern Cyprus?

A:

Extremely, this is possibly the cheapest place to live of all the Mediterranean destinations. They say its cheaper to eat out here as a couple than to cook at home.

Q:

How easy is it to bring our belongings to Northern Cyprus?

A:

There are several container companies that provide this service and it is always wise to obtain several quotations. We can also assist in clearing your goods through customs.

Q:

How long is a usual build time?

A:

If you were buying off plan the build time would take 12-14 Months.

Q:

What is a donum of land?

A:

A donum of land is 1,338m2 = 1/3 of an acre.

Q:

Are there any more charges, other than the purchase price?

A:

The extra monies due will be:

Land Registry Transfer Fee 6% (however, every purchaser has a once in a lifetime option to reduce this fee from 6% to 3%. At the time of transfer, they will ask you whether you wish to use your option and if you do, you will only pay 3%).

VAT 5%

Stamp Duty 1.5% (if this has not already been paid see above)

Q:

If we were to add a swimming pool, what would the cost be?

A:

A 4m x 8m swimming pool will cost in the region of 14,000.00 depending on design.

Q:

Are mortgages available?

A:

More and more finance is being made available by the developers, naturally this is only applicable to their properties, however we are working with two independent Financial Advisors who can assess your requirements and assist in sourcing the most viable options for you whether that be Re-mortgaging, Equity release scheme or other fund management, thus allowing you to purchase in safe financial knowledge

Q:

Can you transport pets from the UK to N.Cyprus?

A:

Yes it is possible. This needs to be done through a vet in the UK, who will advise you of the requirements.

Q:

How much is pool maintenance?

A:

This depends on the size of your pool, it should be in the region of 700.00 a year.

Q:

Who will look after my property when I am not there?

A:

We at Abbey Estates offer a Property Management package at a small fee of 35.00 per Month. Please see our Property Management section on the home page to see what the package includes.

Q:

Do they accept sterling in N.Cyprus?

A:

They accept sterling in most places here in N.Cyprus along with debit and credit cards.

 

If you have any further questions, do please contact us.

 

 

 

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