Cyprus
Island Homes Services
| If you are
Buying property |
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We are able to offer
you the following services:
- Send you information on Property
available in North Cyprus
- Send you plans of developments
- Put you in touch with Developers
and Builders
- Recommend an Independent
firm of Lawyers who specialise
in property matters
- Progress pictures, and Reports
on development.
- Liaison with developer on
your behalf.
- Checking on the Quality of
Fittings and Finishing
- Arrangement to
let or resale your property
if purchased for investment
purposes.
- Looking after and manage
your property after finished
and when you are abroad
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| Finding
Your Cyprus Property Requirements |
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FINDING PROPERTY You may not be aware that in
the Kyrenia area alone there
are over 50 companies in the
property development business. Many
are established businesses that
have been operating in some cases
for over many years, some are
also family run businesses. It
is essential to make sure that
you pick a reputable company
with a proven track record. |
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Finding the right
property that meets your needs
is not an easy task. I recently
met a couple just before they left
Cyprus, who came in search of the
home of their dreams. They
had spent 5 weeks moving from developer
to developer, and in the end due
to a lack of adequate time, and
their determination to purchase
before heading back to the UK,
decided on an option that was going
to be an interim measure. Whilst
some would say well done for showing
determination, I would think that
they might well regret their actions
in years to come. They knew what they wanted,
but did not have the time to
find the right property, at the
right price, within the time
frame that they had in mind. |
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We can help solve
this problem, by sending you information
before you visit Cyprus. You will
then be better informed and be
able to concentrate on pre-selected
suitable choices. There are, in our view, three
main considerations that you
should employ in deciding what
you actually want. These
are: |
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The
location in which you wish to buy |
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| This task is not so
difficult for someone that has spent
time in Cyprus and is familiar with
both the area and has some idea of
the density of people and facilities
offered by different places. |
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The
amount of money that you have available
to make the purchase |
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It
is wise to ensure availability
of sufficient funds prior to committing
yourself to making a purchase. The system in Cyprus
is different to the UK. There
are no building societies to lend
you money. Some developers
have access to finance for their
purchasers through local and offshore
institutions but these are quite
expensive. The lending period is
a maximum of 10 years. Developers
require you provide them with a deposit
of not less than 30% of the cost
of the purchase. This payment
has to be made within 30 days of
signing of the contract with them. |
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The
time frame in which you want to
acquire the property . |
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Due
to the level of development that
the Island is currently experiencing,
it is not uncommon for purchasers
to have to wait for a period of
up to 15 months, this can vary
depending on what and where you
buy and the stage that the project
is at, at the time you buy. Established
developers are currently working
flat out. Having said that they
are able, under certain circumstances,
to shorten the time where the building
of individual villas are concerned. |
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For
those who have plenty of time to
kill or those that can "drop work" at anytime to travel
to Cyprus to deal with the sort of
running around that is required to
find the right place at the right
price I say good hunting! Most
people are, far too busy to spend
much of their valuable time doing
the basic searching required to
enable them to make a sound decision
based on facts presented to them
by just visiting developers. There
is also the cost in monetary terms
to consider as well. |
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| We have
the advantage of living here and
are therefore familiar with all the
areas that are currently being developed. We
also know the developers who can
deliver what you want and those that
may struggle or even fail in the
process. |
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Ask
us for the information |
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| In the
event that you asked us for assistance
we would work with you to discover
exactly what you wanted and then
proceed to find the right combination
of property, developer and location
that meets your requirements. All
of this can be done from the comfort
of your own home wherever that might
be. We would try our very best
to provide you with a short list
of options and submit them to you
in writing (electronically) and in
hard copy format for your consideration. |
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| Ask
us for the Information |
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When
you have the information |
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In the event that
you are happy with our preliminary
work, and recommendations we would
strongly suggest that you arrange
a visit to Cyprus to meet the short-listed
developers and visit their projects,
to see for yourself work in progress. Hopefully, as a result of our
work, this will be a formality
and you will be able to carry
out the necessary formalities
before your departure from Cyprus
in order to secure the property
of your dreams and also have
time to spare to familiarise
yourself with this beautiful
island. |
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| We look
forward to being of service to you. You
can count on us to respond positively
to your request for information. We
promise an initial response based
on your inquiry within 24hrs. Give
us a call you will not be disappointed. |
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| E-mail us at info@cyprusislandhomes.com or |
| Phone + 90 822 2661or |
| Fax + 90 822 3460
or |
| Use our Contact
Us |
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We
are here to assist you |
| Maintenance
of Your Cyprus Property |
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MAINTENANCE Having made a large investment
in real estate for investment
purposes, it is important that
the property maintains its appearance,
charm and character. Failure
to ensure these basic requirements
will erode the overall value
and could lead to costly repairs
having to be effected if faults
are not rectified timeously. Unless you are a frequent visitor
to the Island and the property,
you will perhaps be relying on
friends or neighbours to inform
you of any problems which might
occur. Whilst this approach
is better than nothing it is,
we suggest, not a sensible way
to ensuring that any problems
that might arise are dealt with. Repairs to broken tiles on roofs
etc and blocked drainage systems
can cause a great deal of damage
if not sorted out quickly and
correctly. Gardens and swimming pools left
for a period without proper attention,
soon become overgrown and out
of control. Pool filter
systems need regular cleaning,
as does the water in the pool
itself. We are willing and able to ensure
that, maintenance tasks that
are required to be carried out
on your property, are carried
out with the minimum of fuss
and delay by reputable people. Regular inspections of the property
can be organised by arrangement. Reports
on these checks will be submitted
to you for your information and
action/instructions as required. We look forward to being of
service to you. Why not
give us a try. We will not let
you down |
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Maintenance
of Your Cyprus Property |
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- Gardening
- Landscaping
- Cleaning
- Part Time Help
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Maintenance
of Your Cyprus Property |
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| Please use our Contact
Us or E-mail
us with your requirements,
and we will send you information
on how we can assist you |
| Supervising
Your Cyprus Property |
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SUPERVISION Many purchasers buy property
in Cyprus for investment purposes. In
most cases the property is either
left empty except when a visit
is made during the year to check
on things and have a bit of a
break at the same time. Most properties are let out
during the summer months, which
coincide with the main tourist
season. Levels of control
will vary from one agent to the
next. This depends to a
very large extent on two factors:
- How many properties he has
on his books.
- How valuable your property
is, in terms of money, for
him at the end of each month.
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Supervising
Your Cyprus Property |
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Many agencies promise
to look after your property and
treat it as if it was their own. Sadly
very few ever get anywhere near
that sort of commitment. They
work on the premise that you are
not in the country and therefore
what the "eyes don't see the heart
does not grieve over". We are all very naive when it
comes to talking to agents over
the telephone. He tells
you not to worry and that all
is well, which is what you want
to hear. But is that always
the case? In the number
of years in the past that we
have owned and leased property
through an agent we have come
to treat them in the same manner
as 2 nd hand car salesmen. There
are, of course exceptions to
the rule, but generally speaking
they need to be leaned on from
time to time to ensure that your
property is being looked after
properly. You are not able
to do that from where you are
but we can! |
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Supervising
Your Cyprus Property |
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Give us a chance
to help ensure that your investment
retains both its value and character. We
will not let you down. |
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Supervising
Your Cyprus Property |
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| Please use our Contact
Form or E-mail
us with your requirements,
and we will send you information
as to how we can assist with supervising
your property in your absence |
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Progress Reports
Arrange Appointments
FAQ's
1. Do you organise
the viewing trips to Northern Cyprus?
2. What is the
fastest route to travel to Cyprus?
3. What flights
are available to Northern Cyprus Now?
4. What is the
cost of living in Northern Cyprus?
5. How long can
a British citizen stay in Northern Cyprus?
6. Are there
any limitations on buying property in Northern
Cyprus for foreign person?
7. What are the
procedures to buy the property in Northern
Cyprus?
8. What are the
costs involved when buying a property in
Northern Cyprus?
9. What types
of deeds are available?
10. How long
does it normally take to complete the purchase
of the property in Northern Cyprus?
11. What are
the terms of payment for buying a property
in Northern Cyprus?
12. Is it possible
to bring personal possessions (furniture,
pets, etc) into the country?
13. Is the local
driving license required in Northern Cyprus?
14. Are there
any limitations to repatriate rental or
any other income from Cyprus?
15. What is
the banking system like? Is it possible
to open a bank account in Northern Cyprus
in £?
16. What are
the major cities and what do they offer
from the point of view of buying a property
in Northern Cyprus?
17. What is
the official language in the TRNC?
18. What is
the time difference with UK?
19. Is TRNC
recognised elsewhere in the world?
1. Do
you organise the viewing trips to Northern
Cyprus?
We can recommend several
travel agents who would be able to organise
your accommodation and cheap flights
to Northern Cyprus, as well as car hire
to suit your budget. Our representative
will meet you at the hotel to take you
on the viewing tour. We will only be
taking you to the view the properties
which fall within your search requirements
indicated earlier. Please let us know
when you are planning to visit Northern
Cyprus, the duration of your stay and
hotel in advance so we arrange the viewing
for you. We would recommend you giving
us as much notice as you can so we can
search the best suitable options for
you.
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2.
What is the fastest route to travel
to Cyprus?
Currently there are no
direct flights to Northern Cyprus (Ercan
is the main airport in Northern part
of the island). Due to the rapid increase
of the international number of flights,
Ercan airport is on reconstruction at
the moment, which will be re-opened earlier
next year. Gecitkale is a back-up airport
where all current flights to the island
are made. All flights are through mainland
Turkey. You do not have to leave the
plane as a general rule and remain on
board for 45 minutes in one of the airports
in Turkey (Dalaman, Antalya, Izmir, etc).
It takes 20minutes drive to get from Ercan to Nicosia (Lefkosa) - the capital
of Northern Cyprus, 30 minutes to Kyrenia (Girne). In the nearest future it
will be direct flights from London, Manchester and Frankfurt.
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3.
What flights are available to Northern
Cyprus Now?
North Cyprus has direct
air links only with Turkey (see Q.2),
where all planes from Europe must land.
More than 90 flights to Northern Cyprus
per week arrive at Ercan airport during
the summer. Currently there are
approximately 20 flights per week to
N. Cyprus from London (Heathrow, Gatwick
and Stanstead). For the passengers convenience
most of them arrive in the evening.
There are also flights
to Northern Cyprus from Manchester, Glasgow
and Dublin. From Turkey, you can arrange
a connected flight to Northern Cyprus
from Istanbul, Izmir, Ankara, Adana and
Antalya.
There is also a big selection
of ferries from Turkey, the fastest is
2 hours.
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4.
What is the cost of living in Northern
Cyprus?
The cost of living in
Northern Cyprus is cheap compared to
other countries in Mediterranean region
(Southern part of the island in particular)
or popular European destinations. The
utility bills are exceptionally affordable.
Living in Northern Cyprus, you will be
looking to pay £ 200 a year for
electricity and water for an apartment.
A lot of the houses and apartments are
built with the solar water heating systems,
which ensures cheap running costs even
in winter. Communal maintenance fees
are also payable, depending what facilities
you share (pool, security, sewage, etc)
Northern Cyprus living
is changing for the better. In recent
years the number of the supermarkets
that sell foreign (including leading
English brands) food has grown, which
has brought the price of the export goods
slightly down but it they still remain
higher than in the UK. Turkish produced
food could be purchased at a fraction
of that and is good quality and varied
choice. Northern Cyprus is a paradise
for smokers and alcohol is exceptionally
cheap. For a bottle of a local larger
(EFES) you would pay 50p, a bottle of
a local Red/white wine (Cankaya) £ 2.50.
Northern part of Cyprus
has restaurants galore - on every taste
and pocket. An average restaurant bill
with drinks per person is £ 10-20.
You can pay in all restaurants and supermarkets
directly in pounds and in Euro, without
losing in conversion rates. The cost
of living in North Cyprus is very cheap
compared to UK.
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5.
How long can a British citizen stay
in Northern Cyprus?
British and the majority
of Western Europeans on arrival would
automatically receive three month visa.
If you decide to stay on the island for
a longer period you can get an extension
or if you decide to permanently settle
there, you would need to get a residency
permit. We will put you in the right
direction how to receive it quickly.
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6.
Are there any limitations on buying
property in Northern Cyprus for foreign
person?
Yes, there is a limitation.
The land in Northern Cyprus is measured
in donums. The foreign national cannot
buy more than 1 donum of land (which
is 1,338 square metres or approximately
14,000 square feet) for one property.
This area of land will satisfy the majority
of our clients. In the case where you
want a bigger piece of land, this can
be easily met by adding members of your
family as the owners or by forming a
local company to buy the land in its
name.
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7.
What are the procedures to buy the
property in Northern Cyprus?
You appoint a solicitor
who checks and confirms the title deeds.
The next stage is to draw a sale contract.
It will define the payments terms and
the completion date. Your presence is
not essential as the solicitor will act
on your behalf if you issue a Power of
Attorney.
On the day of the completion,
the monies are paid to the vendor and
the Land Registry (Stamp duty at 6%)
by your solicitor. Your name will be
included into the Land Registry's books,
but it takes up to 12 months for the
new title deed to be issued.
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8.
What are the costs involved when buying
a property in Northern Cyprus?
The solicitor's costs
are in the region of £ 1000 (be
aware that some solicitors charge an
hourly rate fee, that could work out
very expensive) when buying a property
in Northern Cyprus. We can always refer
you to the solicitor we work with, who
is more competitive and charges at £ 700.
The stamp duty is 6% of
the property value, but more often than
not the valuation is lower than the selling
price of the property. Some may consider
to build their own house as the stamp
duty will be payable on the cost of the
land than the built property, if the
permission to buy is received before
the construction begins.
Also the buyer has to
bear in mind the sales tax (VAT) at 5%
on newly built property.
Sales and stamp duty tax
is payable to the Land Registry office
when the permission to buy is granted
and the property is completed as well
as a nominal registry fees (in the region
of £ 200).
The buyer also should
enquire about the other costs in relationship
to the electricity, water, gas installation.
Sometimes, the costs are built into the
selling price, but more often than not
there is a separate cost, especially
if you are building your villa in isolation
to the main road or the nearest village
and there is not construction nearby.
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9.
What types of deeds are available?
Like in UK there are two
main types of deeds in TRNC, like in
UK - Freehold and Leasehold deeds. However,
there are some significant differences
the UK buyer should be aware of when
he comes to buy a property in Northern
Cyprus.
Leasehold property or
land is as a rule restored buildings
which are leased to the foreign nationals
by the Government for the period up to
49 years. The ground rent is negligible.
Typical example of such properties could
be found in the well established Karmi
Village near Kyrenia (Girne), where originally
all foreign nationals settled. Most of
them are English, but also other European
nationals, like Germans, Swiss, and Dutch
live here.
There are three types
of deeds for Freehold property, which
differentiate significantly, but all
of them are absolutely legal.
The first one is the Freehold
property that belonged to the foreign
owner (pre-1974), which could be rarely
found on the market these days, as the
owners consider it a good investment
and do not feel like parting with it
when the property prices are going up.
Second type is the deeds
that belonged to Turkish Cypriots before
1974, which are also internationally
recognised title deeds. The foreign buyers
should be aware that currently such transfers
are only completed if sale occurs between
Turkish Cypriots. There is no law stating
that you cannot buy it, but in practice,
nobody who purchased such properties
recently was able to put their names
on the title deeds afterwards.
Third type is the TRNC
absolute possession document, which was
issued to Turkish Cypriots in compensation
of their lost property in the Southern
part of island by TRNC Government. The
land or property before the conflict
belonged to the Greek Cypriots. The Turkish
Cypriots signed over their property left
in the Southern part of the island in
favour of the TRNC, who used the full
possession title in return. It is also
often referred to as a basis points land.
However, the buyer should be aware that
some plots of land or property located
close to military sites cannot be completed
(e.g. your name will not appear on the
title deeds). It is a common belief that
the TRNC title deeds issued to the military
serviceman for their service on the island
carry the high risk of repossession,
as they were issued not on a basis point
system, but as a reward for the services.
The land and property
with no title deeds issued (that belonged
to Greek Cypriots pre-1974 and not reclaimed
by the Turkish Cypriots) as well as "pending
ownership" (the purchase that did not
complete pre-1974) are illegal and are
not considered safe.
Your new home could
be at risk if you complete your purchase
without confirmation of the titled
deeds by a solicitor!
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10.
How long does it normally take to complete
the purchase of the property in Northern
Cyprus?
Be prepared to wait. It
could take up to 12 months to complete
the purchase, but it nothing to worry
about of course if you are not planning
to sell the property during this period
of time. The waiting will be rewarded
by becoming the owner of your dream home.
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11.
What are the terms of payment for buying
a property in Northern Cyprus?
The terms of payment depend
upon the property you buy. Re-sale property
is paid fully on the exchange of the
contracts, newly built or build on order
varies depending upon the construction
firm. It could be from 100% upfront to
10-30% deposit with the monthly instalments
afterwards till completion. Please indicate
your financing position and your preferences
regarding how you would prefer to settle
your purchase. As we are not tied to
one specific contractor we would be able
to find the right property for sale in
Northern Cyprus that you would be able
to finance.
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12.
Is it possible to bring personal possessions
(furniture, pets, etc) into the country?
There are several removal
companies that offer this service. The
price depends upon the cubic metre capacity.
To shop around for quotes would be the
best route to follow. We can provide
you with several contact numbers to get
in touch.
There are no harsh requirements
on bringing pets into the country if
you have a UK vet certificate stating
that the animal has not got any infectious
diseases, which needs to be presented
to the Ministry of the Agriculture. The
quarantine period is 4 weeks. Bear in
mind that you would have to look after
your pet during the quarantine period
as this service is not offered.
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13.
Is the local driving license required
in Northern Cyprus?
Driving in Cyprus like
in many other ex-colonies is on the left,
which should not create any problems.
You would be allowed to drive on your
UK Driving License for the period of
three months, after that you would need
to apply for a permanent driving licence.
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14.
Are there any limitations to repatriate
rental or any other income from Cyprus?
There is no limitation
on repatriating the profits, including
the rental income from your property
in Northern Cyprus. No questions asked
about the origin of income.
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15.
What is the banking system like? Is
it possible to open a bank account
in Northern Cyprus in £?
There are a lot of local
private banks in N. Cyprus as well as
branches of the Turkish banks. You would
be able to open the currency accounts
(in £) which offer good interest
rates. However we do recommend you to
go for the reputable banks as there were
instances of bankruptcy of the local
banks in the past. HSBC International
has opened its branches in Kyrenia (Girne)
and Nicosia (Lefkosa), which is a sign
of financial and political stability
on the island.
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16.
What are the major cities and what
do they offer from the point of view
of buying a property in Northern Cyprus?
Lefkosa (Nicosia) - is
the capital of the Northern part of the
island with the population of 150,000
and it is divided into Turkish and Greek
sectors by a boundary known as the `green
line' which runs through the city. The
place is fascinating with its history,
architecture and places of interest.
The place might attract the buyers who
are planning to work for the local Government
or international company. The investment
in property here might be very rewarding
if and when the island reunites. There
is a massive potential for the investment
growth.
Famagusta. The
place is like an outdoor museum in itself,
but also here is so much historical interest
concentrated with many museums. To name
but a few, Saint Barnabas Monastery and
Museum, Agios Ionnis Greek Orthodox Church
and Icon Museum. This is a very much
the cultural centre of the island, including
the University. This area would appeal
to families with children of different
ages, just like Kyrenia. However, the
landscape of this area is very different,
it is more flat and the sea view is more
restricted, but the golden sand beaches
are the best on the whole island. This
area is becoming increasingly popular
amongst foreign buyers, not just British.
The British Community here is smaller
than in Kyrenia at the moment, but this
keeps the property prices lower and more
attractive to other European buyers.
Girne (Kyrenia) - is
famous for its resorts, beautiful seaside,
restaurants, casinos and large British
community in the town itself and its vicinities.
The head office of the British Residents
Society is located here.
Few minutes drive from Kyrenia there is Karmi (an English Village settlement),
situated high in the mountains. The property for sale there is leasehold, not
freehold.
Gyzelyurt (Golf course) is
famous for its olive and orange trees
orchards. It is located 30 miles west
of Kyrenia (Girne). This area is famous
for its tasty apples, vegetables, grapefruit
and melons due to the underwater springs.
G?zelyurt is also famous for its annual
Orange Festival, which is a major event
lasting two weeks. The golf club (9 holes)
is located outside the town. It is open
every day to the public. Clubs are
available for hire at the clubhouse and
the best days to meet and play with the
friendly local members are Tuesdays and
Thursdays. However, do not expect
to see a sophisticated golf course by
European standards. It is basic, but
the views are fantastic. Imagine finishing
the game just before the sun dips over
the horizon across the blue shimmering
sea?
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17.
What is the official language in the
TRNC?
The official language
is Turkish; however English is a business
language and widely spoken.
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18.
What is the time difference with UK?
Turkish Cyprus is two
hours ahead of UK GMT time.
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19.
Is TRNC recognised elsewhere in the
world?
The TRNC has an Embassy
in Ankara and Consulates in Mersin and
Istanbul; Offices of Representatives
in London, Washington, New York, Brussels,
Pakistan and Abu Dhabi's Honorary Representatives
in Italy, Germany, Austria, Canada, South
Africa and Finland.
There is a Turkish Embassy,
British High Commissioner and German
Consulate in the TRNC.
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