Additional costs of obtaining residency in Northern Cyprus in 2021
Costs are very reasonable in Northern Cyprus
Northern Cyprus is one of the countries of the Mediterranean Sea and is also known as the small pearl of the Mediterranean. Costs are very reasonable in Northern Cyprus .This country is under the rule of the Republic of Turkey, so its official language is Turkish. Of course, English is commonly spoken in this country and some people also speak Greek. The currency of this country is lira and it corresponds to the currency of Turkey.
Northern Cyprus is very famous among Iranians for having a pleasant climate, warm and friendly people, low costs compared to other European countries, as well as having higher education institutions and top universities. This country has several important cities, namely Kyrenia (Carinia), Nicosia (the capital of Northern Cyprus), Famagusta and Lefkada. The cost of living in these cities is almost the same, but the cost of living in Kyrenia is slightly higher than other cities.
After purchasing the property and signing the original contract in the company, a fee of 0.5% of the price of the property must be paid to register the contract at Tapoo office.
5% of the price of the property must be paid to the Tax Office (one year after the key is delivered) and 3% of the price of the property as VAT (one year after the delivery of the key), which will be a total of 8.5% of the total value of the property. This fee will be paid for each property once, and after payment the property will be tax-free.
Other costs which are related to water, electricity, sewage, are different in some companies, but the amount is between 1,500 and 1,800 British pounds.
The next fee relates to the process of obtaining a residence, which includes 611 TL for blood tests and 520 TL for residency (it must be paid each time the residence permit is extended.)