USEFUL INFORMATION ABOUT NORTHERN CYPRUS
The Republic of Northern Cyprus is located in the northern part of the island of Cyprus. The state is not recognized by most countries and is separated from the southern part by the Greenline – the border that is guarded. The total population is about 295 thousand people, by ethnicity – Turkish Cypriots and Turks. Both the island states have one capital – the city of Nicosia, which is also divided.
THINGS TO KNOW
Because Northern Cyprus is not recognized, there are no official embassies in the country, except for the Turkish one. Therefore, foreign citizens do not need to apply for a visa and a medical insurance policy to enter the state. The stay is 30 days and can be extended up to 90. We recommend that you put the stamp upon arrival not in your passport, but on a special insert.
Most personal belongings can be imported into the republic duty-free. Cash – no more than 10 thousand euros, two cigarettes’ cartons, strong alcohol a liter. We do not recommend travelling with pets: upon arrival, they need to comply with quarantine (14 days). Therefore, it is advisable to fly to the country with a dog or a cat when plans are to buy real estate in Northern Cyprus.
TRANSPORT AND BANKING SYSTEM
Car rental and taxi services are popular on the island: rates are available. Regular buses run between cities. Nuance – left-hand traffic on the island. You can change the currency at any bank branch and exchange office, the commission for withdrawing money is low. Cards are accepted for payment.
The country offers foreign investors a fast-growing real estate market: prices a wide range and many objects’ types. The real estate price in Northern Cyprus depends on the type, area, furniture, locality, proximity to the sea and infrastructure, transport accessibility, etc. By purchasing real estate, the investor receives a residence permit using a simplified system. Purchase and maintenance taxes are much lower compared to European countries.
Every family has different expenses on food, but prices for fruits, vegetables, seafood and meat are not high in comparison with Europe. There is access to fresh vegetables and fruits all year round. The mild climate presupposes light clothing, without the need to buy warm fur coats and down jackets. Good quality clothing is inexpensive, and there are often seasonal sales.