The number of people who find the answer to their needs of immigrating to North Cyprus and Obtaining a residence document in North Cyprus through real estate investment has increased over the years. Most of these people are from the following countries: Russia and Eastern European countries, England, Turkey, Iran, Scandinavian countries, etc.
Why Buy a Property or Invest In North Cyprus?
Currently, the real estate market in North Cyprus offers the best prices among the Mediterranean countries. The prices of properties available for purchase in coastal areas range from 80,000 GBP for an apartment and 200,000 GBP for a villa.
The prices for Luxury apartments and penthouses in perfect condition range from around 240,000 GBP, and very stylish villas up to 350,000 GBP, which is a very low and reasonable amount compared to similar property prices in other countries.
The annual growth of property investment in North Cyprus is around 25-35% and is mostly true for pre-sold properties. Also, due to the relative virginity of this island and the high desire of nationals of other countries to stay and invest (because of the tourist attractions of North Cyprus), every year a large number of travelers come here and after observing the conditions, they decide to migrate and stay in North Cyprus.
The demand for buying properties increases every year, and accordingly, the price of properties and houses increases.
The British pound is one of the most reliable, stable, and strong currencies in the world, and every year the difference in the value of the pound (GBP) against the dollar (USD) and the euro (EUR) increases. Fortunately, buying and selling property in North Cyprus is in British pounds (GBP), which encourages foreign investors to buy properties, because in a short period, in addition to the growth of property prices in this country, the pound (GBP) currency also has a good added value to It, and this causes multiple capital growth for investors. It should also be noted that the pound is a currency that is resistant to any inflation and this type of investment in Cyprus differentiates the capital of investors compared to other countries such as Dubai, Georgia, Turkey, etc.
One of the biggest advantages of investing in North Cyprus is receiving a definitive and lifetime one-page document in the name of the foreign buyer. According to the laws of the Cyprus government, the property deed is the same for foreign investors and Cypriots, and even after the death of the buyer, the property is inherited equally or executed according to the laws to the registered will of the deceased. The government of Cyprus, unlike countries like Georgia, Turkey, etc., will not have any share in the property of foreign buyers.
There is no need to establish a company to buy property in North Cyprus, also the administrative and legal procedures for buying property on this island are very simple. In most projects, by paying 30% of the total amount, the desired property is registered in the name of the buyer, and the residence process application starts immediately and takes a maximum of three weeks to be ready.
Furthermore, the procedures for setting up a property purchase agreement in North Cyprus are very simple, and foreigners can easily have 100% ownership of the purchased property.
In addition, the purchase contract will be drawn up in three versions (buyer, seller, lawyer) in Turkish, Persian, and English languages, and if needed, all versions have power of attorney from the notary all document versions are the same.
It should also be noted that the hereditary property document (which is not similar in countries such as Dubai, Greece, Armenia, and European countries) is given to the buyer. The North Cyprus Immigration will process the residency of the buyer and any family member based on the property registered in your name, so legally, it will be done carefully and in full compliance with the law to ensure that the property does not lose any value at all.
Radman Mediterranean Company has made the payment terms very easy so that investors in most projects can pay 30% of the property price and pay the rest in installments over 5-6 years without interest, or extend the installment up to 10 years with 9% interest.
Regardless of the method of payment; either bank transfer or cash, the condition for obtaining residence is the same. For customers paying in cash; in addition to not paying interest, special discounts and facilities such as providing some kitchen appliances, etc. are considered gifts from the company.
People who intend to immigrate or stay long-term in North Cyprus must apply for a residence permit. To obtain residence through the purchase of property in North Cyprus, after completing the initial stages of the purchase contract, you must take the relevant documents with our representative to the registration and tax office and register the property in the name of the buyer or buyers. Issuance of residence for people is not subject to the permanent presence of people in North Cyprus and the compulsion to live here, and the buyer or buyers can leave or enter North Cyprus at any time and for any reason. In the same way, some people leave Cyprus after buying property and obtaining residence, leaving the house for annual rent which creates income for them.
After receiving the annual residence in Northern Cyprus and extending it for 5 years (without the need to live continuously and stay on the island for the entire period), foreigners have the right to receive a permanent residence card for themselves and their families in this country. It should be noted that the residence is permanent from the first day, but it can be renewed every five years.
According to the statistics of international organizations, Northern Cyprus ranks first among small countries in global security and cleanliness of the living environment, and according to the world statistics of 2021, among all the countries of the world, Fifth Rank in terms of social security, lack of crime and optimal living conditions.
As mentioned on the page About Cyprus, the country of North Cyprus is separate from South Cyprus, but due to the actions and negotiations that have taken place, as well as the interventions of the United Nations, we hope to witness the reunion of the two regions of Cyprus (North and South).
This will speed up the development of the two countries, make it more difficult to enter the country, and make the rules related to investment (and company registration), buying a house, and obtaining permanent residence even more difficult, and consequently increasing prices. Considering the above, it is obvious that this is the right time to take action for residence through investment and purchase of property or land (both before and after the agreement) will bring profit.
Having a permanent residence in North Cyprus facilitates the process of obtaining a visa for American, European, and Australian countries, which generally have a strict approach towards Iranians and so many other countries (in terms of visas.)
One of the main reasons for people to choose North Cyprus is its very favorable and moderate climate. The clean and suitable climate has made life enjoyable on this beautiful island. With an average of 300 sunny days per year, Cyprus has the healthiest and best climate of the temperate Mediterranean regions. For this reason, this island welcomes travelers from all over the world all year round. The air temperature in most months is between 15 and 27 degrees Celsius.
Among tourists and nature lovers, the Mediterranean has always been known for its charming and beautiful beaches. The island of Cyprus also has this Mediterranean gift and the magical beaches of this region capture the hearts of all tourists with the magic of clear water and shining sand. The calm sea and golden sands provide a beautiful and pleasant place for swimming, sunbathing, and water sports.
In North Cyprus, there are countless activities for adults as well as children. 5-star hotels provide unlimited recreational facilities for everyone, as well as restaurants, and night entertainment, all available to everyone, even those who do not stay in the hotel can use these facilities. Entertainment and bowling centers, cinemas, as well as countless historical places that you will never get enough of. At the same time, one of the most important attractions of the island is the beaches with golden sands and a huge variety of beach and sea activities. North Cyprus is also one of the most popular areas for diving enthusiasts all over the world due to the very suitable depth of water and the unique variety of aquatic species.