Buying a shop in North Cyprus can be a profitable investment for you. By doing this, you can not only earn foreign currency, but you will multiply your capital in a short period of time.
In the past years, Northern Cyprus has attracted a lot of attention from immigrants from all over the world, especially from the Middle East. This pristine and beautiful island located in the Mediterranean Sea is known as a safe place for investment. Today, we see a massive increase in construction projects in all cities of this country. Although by buying a residential property you can easily get temporary residence in this country for yourself and your family, but in order to generate foreign exchange income, buying a shop can be more profitable for you. Of course, pay attention to the fact that by buying a shop in Northern Cyprus, you cannot obtain a temporary residence in this country. In this article, we have tried to mention all the important things about it. Stay with us until the end.
Buy a shop in Northern Cyprus
If for any reason you are planning to invest in real estate in North Cyprus, it is good to know that you can easily buy a shop in this country and take advantage of its countless benefits. Buying a shop in North Cyprus is not a complicated process. In fact, it is enough for you to choose the shop you want according to your conditions and reach an agreement with the buyer. After the financial agreements and payment of the property, the definitive document will be given to you. Of course, if you yourself intend to start working in that shop, you should know that starting any commercial and economic activity and of course naming a shop document in North Cyprus requires company registration. Without company registration, you will not be allowed to work in your shop, nor will you be allowed to transfer the document in your name.
It is good to point out this important point at the very beginning that before buying your shop, it is better to consider your purpose for this work. For example, if you are planning to start a specific business activity in North Cyprus by buying a shop, you should choose the best place according to your business. Also, if you plan to rent your shop, you should pay attention to the fact that some neighborhoods charge more monthly rent for the shop. Therefore, touristic and busy areas can be the best place to buy a shop and then rent it. Our consultants at Saadat Visa Group will guide you in this field for free.
Shop prices in Northern Cyprus
The price of a commercial property is more expensive than residential properties everywhere in the world. This issue can also be seen in North Cyprus. It’s a bit hard to talk about the exact price of shops in North Cyprus; Because the price depends on many factors, including the place where the shop is located, the size of the shop or the facilities it has. But in general, it is good to know that in Northern Cyprus, unlike Iran, the price of the shop is not calculated per meter. In general, you will need at least 100,000 pounds to buy a shop. The price of newly built shops starts from 200 to 250 thousand pounds. Of course, vintage shops may have a lower price. The reason why the price of shops in North Cyprus seems a bit high is because of their large size.
Advantages of buying a shop in North Cyprus
If you have a business activity in Iran now and you intend to continue the same work after immigrating to Cyprus, you definitely know that by buying a shop, you can easily continue working in North Cyprus without having to worry about moving your workplace. Of course, by doing this, you will preserve your capital and not worry about paying the monthly rent.
But many people buy shops with the intention of foreign investment and having a foreign exchange income in this country. You should know that you will earn very well with this work. Depending on where your shop is located, you will receive approximately £1,000 per month in rent. Another important issue is that according to the rental law in Northern Cyprus, the property owner receives six months to one year’s rent from the tenant in full at the beginning of the contract.
Obtaining residence in Northern Cyprus by buying a shop
If you have not yet received your temporary residence permit in Northern Cyprus, you may think that by buying a shop in Northern Cyprus you can obtain a residence permit for yourself and your family. But we must say that you are wrong. In fact, buying a shop cannot help you in obtaining temporary residence. This means that in order to start an economic activity in this country, a person first needs to have a temporary residence.
final word
Buying a shop in North Cyprus is known as a very profitable investment. In fact, this beautiful island is very popular among tourists from all over the world. Therefore, whether you intend to work in your own shop or whether you intend to rent a shop, it will bring you a very good profit. If you are planning to buy a commercial property in this country, it is better to consult with our advisors in the Saadat Visa group before doing anything, so that they can introduce you to the best place for buying a shop according to your conditions and reasons, so that you can get the most profit from Have your shopping.
