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Real Estate

Real Estate

Over the last few years, thanks to its historic landscape, as well as warm climate, Northern Cyprus has turned into one of the favorite locations for real estate investments. Every year, this Mediterranean island, situated very close to Turkey, attracts visitors from all corners of the world. This interest has elevated the real estate market in equal measure over the last few years, turning Northern Cyprus into a prime location for real estate investors. With its vast beaches, unparalleled historic legacy, climate and island culture, Northern Cyprus attracts investors from a variety of countries whether for large or small projects. A few of the Island's prime investors are: The UK, Germany, Sweden, Norway, Finland, Israel and Russia. These investments in real estate development help the island develop. In Kyrenia, Nicosia, Famagusta, Güzelyurt and Lefke, Northern Cyprus offers a vast array of real estate investment alternatives for all types of tastes and budgets, ranging from mass residential projects to ultra-luxurious villas. Developers in Northern Cyprus place utmost importance in utilizing the best construction technologies and materials. Northern Cyprus developers have completed several award-winning projects over the last few years and have helped many buyers attain the homes of their dreams. Northern Cyprus offers opportunities to those who wish to retire in a warm climate, those wishing to purchase a vacation home, or individuals who invest in the island and obtain residency rights and settle in Northern Cyprus. Government policies in Northern Cyprus have also made education a priority. With at least one university in every city in Northern Cyprus, every year local universities attract students from all corners of the world. Parallel to the education sector, Cyprus offers unique opportunities to real estate investors who seek to obtain regular rental income while enjoying a low tax rate.

Gürkan & Gürkan Advocates and Legal Advisers builds on its vast experience obtained through its representation of local and international developers, investors, managers, constructors and financiers over the years and offers legal consulting services to its clients across Northern Cyprus during purchases, sales, project management, construction, investment selection, as well as other areas relating to real estate.

Our Firm undertakes a detailed study of the ownership rights, construction licenses and all other documentation of an apartment flat or villa identified by its clients, ensuring a problem-free investment. Instead of using off-the-shelf sales contracts, ours are tailor made by our expert team, in line with the requirements of our clients. After the singing process, managed in close coordination with our clients, these are filed with the District Lands Office. Our Firm offers speedy solutions and a transparent procedure to clients wishing to purchase real estate. We have provided legal consulting services to thousands of individuals in Northern Cyprus in real estate and our firm is a leader in the field. Gürkan & Gürkan Advocates and Legal Advisers makes it a priority to work with utmost care to ensure that clients attain the house of their dreams.

Some of the major services we offer as part of this effort are:

  • Legal consulting services to clients who desire to purchase real estate in Northern Cyprus
  • Legal consulting services to clients who desire to sell their real estate in Northern Cyprus
  • Detailed study and preparation of real estate sales contracts
  • The submission of the required application for our foreign clients to enable them to purchase real estate in Cyprus, per Article 109, to the Ministry of the Interior and the follow up of the process
  • Registration of the sales contract with the District Lands Office and the de-registration of contracts
  • Consulting services regarding the taxation applicable to the purchase and sale of real estate
  • Trustee services
  • Applications and follow up on transfer requests submitted to the District Lands Office
  • Preparation of rental agreements and the payment of rental tax

Gürkan & Gürkan Advocates and Legal Advisers provides trust-related services to local and international clients, in line with their needs in Northern Cyprus. Our Firm has innovative and reliable service offerings that enable our clients and investors to use Trusts and secure their assets, as well as real estate, in Northern Cyprus.

Gürkan & Gürkan Advocates and Legal Advisers has a team of experts, specializing in Law numbered 35/2010 on Property Ownership and Maintenance Act and has used this expertise to prepare specialized service management contracts for residents as well as leading construction companies. Our attorneys consider the unique circumstances and requirements of each case to prepare extensive service management contracts for mass residential, large developments and apartment buildings for their management as well as upkeep. Furthermore, we provide legal consulting services to construction companies, building managers, maintenance firms and property owners on how to elect a building manager, the convening of the committee of residents, how to hold the annual meeting, recordkeeping as applicable to such meetings and calls for extraordinary meetings, in compliance with 35/2010 on Property Ownership and Maintenance Act. Our Firm also provides services relating to the resolution of disputes arising between maintenance companies and homeowners, as well as the collection of maintenance fees.

Gürkan & Gürkan Advocates and Legal Advisers provides project consulting services to investors desiring to make large-scale investments in Northern Cyprus for the construction and sale of mass residential projects. Our detailed and comprehensive array of solutions, with which we support the project from beginning to end, include: identification of the right plot of land for our clients’ projects, research on the legal and construction status and any roadblocks concerning this land, design of the project with the right team of architects and engineers and getting the visa on the project, getting the plans approved, obtaining the construction permit, identification of the right target market and buyer profile for the project and cooperation with a sales team, signing contracts with real estate agents for the promotion and sale of the project, preparation of sale contracts, identification for a suitable maintenance company for the project and the preparation of the maintenance contract, establishment and registration of the investment company, crafting of accounting strategies that will provide a tax advantage and collaboration with the right accountants.

Gürkan & Gürkan Advocates and Legal Advisers also actively pursues the interest of either the buyer or the seller within a legal framework, when the agreement is violated by the other party and therefore damage suffered. Should the dispute become a matter for the courts, our team of experts specializing in real estate disputes and breach of contracts evaluates each case based on its unique set of circumstances and works to obtain the highest possible compensation for its clients, as quickly as possible. It is an utmost priority of our Firm to closely follow court cases regularly, by staying on top of the daily court schedule. We have a history of successful conclusion of hundreds of real estate cases and effective collection of the judgment debts for our clients, by way of the right legal method.

Gürkan & Gürkan Advocates and Legal Advisers offers legal consulting services to the owners of residential or commercial real estate in Northern Cyprus, on the law relating to rentals and other applicable regulations. Our team of experts will prepare rental agreements upon the request of either the landlord or the property owner, while also offering legal consulting services on surety bonds and guarantees, short and long-term rental relations and the collection of rent. Our Firm also facilitates, with great care and attention, court cases involving the violation of rental agreements, with the intent to repossess the property in question and collect unpaid rent as speedily as possible. Our Firm provides consulting services and shares alternative solutions, where the owner of the property desires to terminate the rental agreement on the right legal grounds. Additionally, we provide reliable and accurate advice to real estate owners, whose property is illegally occupied, for the eviction process.

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