When buying a property in North Cyprus and as a first-time buyer, you pay 8.5% tax. Within 21 days of signing the purchase contract, 0.5% of the purchase price must be paid as stamp duty. The remaining amount consists of 5% VAT and 3% title tax, both must be paid after your purchase permit has been granted and the title is transferred to your name. Stamp duty – 0.5% VAT – 5% Land registry tax – 3%