Kibkom North Cyprus Forum

"Purchasers who, prior to the Immovable Property Acquisition and Long-Term Lease (Aliens) (Amendment) Law coming into force, had entered into Contracts of Sale to purchase more than one property have the option, in addition to the existing option under the Law of paying a notification fee of 1% to the Ministry of the Interior and disposing of the property within 24 months of the expiry of the notification period set out in the law, of obtaining a 7-year licence to use and enjoy the property."


This says its for additional properties..i bet people with only 1 house can apply to..

Of course they want the transfer taxes paid in return for the license...

They created a complete mess...with ridiculous timescales..

What a fiasco..clearly wanting to generate more tax payments.

Unfortunately they put the laws into effect before doing any surveys why people have not got their kocans.
2000 plus was PTP , then the new builds, builders / developers not completing projects. Then we moved to taxes but did anyone address the problems NO. Now thousands of people are affected.
Surely it would be best put any new plan for purchasing now, then address the problem of those who have not got their kocan.
1) find how many haven't
2) why they haven't
3) come up with a solution
The first 2 , yes a deadline could be set but the 3rd there are some very complex cases.

https://www.ft.com/content/8e2e9f04-160 ... 94b1cef038

Spain are muting 100 % property tax for foreigners for similar reasons the tax rises here..
Will make 12% look like a bargain

Reyntj wrote: ↑

Mon 13 Jan 2025 6:06 pm

https://www.ft.com/content/8e2e9f04-160 ... 94b1cef038

Spain are muting 100 % property tax for foreigners for similar reasons the tax rises here..
Will make 12% look like a bargain

I was just reading the article in the daily express

https://www.express.co.uk/news/world/19 ... source=nba

For those interested here is the full article that Reyntj has posted…….

https://www.catalannews.com/society-sci ... ing-houses

From daily mail
Looks like these are joining

News

EXCLUSIVEThe other countries set to follow Spain and declare war on Brits' holiday homes: France, Greece and Portugal among the EU nations looking to take action as war on tourists and expats threatens to explode across the continent

I suppose the issue specific to trnc is that existing buyers on contract have been caught with a much higher tax bill than envisaged.