'Cyprus Homes' property investments can help you through the simple process of purchasing multiple property buy in Northern Cyprus with ease and efficiency. There are several ways in which an investment buyer can make multiple purchases in Northern Cyprus, depending on whether you are looking for a short, medium or long term property investment.

SET UP A LTD COMPANY

The first option is to set up a LTD company in the TRNC which will allow you to own as many properties as you require under the name of the company. As a foreigner you can only own a 49% share of the company under the laws of Northern Cyprus which states that all companies must have a Turkish Cypriot citizen as a majority share holder (51%). This can be in the form of a Lawyer (which is recommended) or any other TRNC national which can act as a silent partner, allowing you full control of the company and all it assets. Our expertise has helped set up many companies for foreign nationals, not just in the property market but also in many other areas of the tourism sector.

This solution is ideal for medium/long term property investments.

USE INDIVIDUAL PURCHASE ALLOWANCES

Under the laws of the TRNC any foreign national (or married couple) has the right to purchase 1 property on this beautiful island. If you are making multiple purchases then it is possible to use the purchase ‘allowance’ of other individuals. For example: Say you wanted to purchase a block of 6 apartments, you could use your allowance for 1 apartment and some family members for the other 5 (i.e. 3 daughters and 2 sisters). The property purchase contract would still be between yourself & the vendor, and you would still be the legal owner with full control over the assets. Again, we have used this method on many occasions allowing foreign nationals to make multiple investments without the need for a LTD company.

This solution is ideal for medium/long term investments.

RE-SELL BEFORE THE TRANSACTION OF TITLE DEEDS

When you buy a property in Northern Cyprus a 'Purchase Permit Application' (PPA) is submitted, which usually takes between 12-15 months to go through the ministerial system. Most new build properties will take 12-15 months from start to finish, which means if you wish for a property resale at any stage in this time you can do so without the title transfer taking place. This means that you can make multiple purchases without actually submitting a PPA with the intent of selling the properties on before or on completion. The other advantage with this method is that you will avoid paying any stamp duty (transfer tax of 6%) and KDV (VAT of 5%).

This solution is ideal for short term property investments.