Owning more than one property

chuckle


Joined: 04/08/2009
Posts: 4

Message Posted:
05/08/2009 21:40

Can anyone explain the rules regarding a foreign national owning more than property in North Cyprus please?

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
05/08/2009 21:47

Us foreigners are allowed to BUY as many properties as we like.....but OWNING them is a different matter !



OK...I'm bitter....I'll give you a proper answer....as far as I'm aware you can only own one property,and married couples are treated as one person in this case!

Those who buy more than one property have to do so in the names of friends or family to get around the rules.

cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
05/08/2009 21:53

You can only apply for PTP or take title to one property so you would need to nominate someone else to take title for the other property or property's or you could set up a TRNC company.



Cooper

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
05/08/2009 23:15

Chuckle

Please reassure us that you are not even contemplating paying for property in NC (I deliberately avoid the word 'owning'). I'm guessing your experience re apartments A1 & A2 have got your sense of justice juices flowing?

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
05/08/2009 23:19

maybe , just maybe , he,s a , gcs spy lol ,,,,

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
05/08/2009 23:23

Hi all,



I am sure there is a way round this, as I know someone who owns 3 properties. I think she recently set up some kind of company but she has owned these properties for at least 3 years.





The butlers wife

CyprusSage


Joined: 05/08/2009
Posts: 26

Message Posted:
06/08/2009 12:06

If your spouse has a different surname from you then each can own a property.

scoobydoo


Joined: 10/11/2008
Posts: 2434

Message Posted:
06/08/2009 14:30

Create a company or use your spouse's name (only if it is different to yours), brother, sister, mum,dad etc etc etc

colly


Joined: 31/07/2008
Posts: 297

Message Posted:
06/08/2009 17:16

"If your spouse has a different surname from you then each can own a property."



I think that if you check this out this is incorrect! One property only per married couple, different names or not.



Col

CyprusSage


Joined: 05/08/2009
Posts: 26

Message Posted:
06/08/2009 17:28

Msg 9,



Has this been amended without publicity? That system has been around for years.

chuckle


Joined: 04/08/2009
Posts: 4

Message Posted:
06/08/2009 20:04

Hector, you hit the nail on the head

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
06/08/2009 22:13

chuckle

Thought I might have done.

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
07/08/2009 10:09

does anyone know if there is an age rule on buying property?

my son will soon be 18, i know he can't drive or have a bank account here until then, is it the same age thing for buying property?

cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
07/08/2009 17:36

This is the common law - http://www.genfiles.com/legal/legalage.htm#_ftn1



Cooper

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
07/08/2009 21:38

cooper

What has this page got to do with the TRNC?

cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
07/08/2009 23:21

Probably nothing but thats all i have. have you been able to find out anything ?

colly


Joined: 31/07/2008
Posts: 297

Message Posted:
08/08/2009 10:27

Cyprus Sage



This is what we were told by our (well trusted ) advocate. Do not know if it has always been this way or if it changed. Perhaps someone could clarify.

Col