Панель управления
Language: ru en
Currency:
Call Me Back
Property in North Cyprus
Choose your dream house
Sale Rent
Sale Rent

Changes in property purchasing laws are discussed


 Changes in property purchasing laws are discussed

TRNC government discusses possible changes in the administrative system of purchasing property . The proposed amendments mean that foreign nationals will no longer need permission to purchase from the Cabinet of Ministers of the TRNC when changing the property in Northern Cyprus. Owners of a "white card" of Northern Cyprus will be able to have the same rights as the citizens of Northern Cyprus. The bill will allow foreign nationals in Northern Cyprus to get "white card" after five years of work or residence permit in the country, with the possibility of further acquisition of citizenship in TRNC after a further five years. The plan is aimed at facilitating a costly and time-consuming process of renewal of the residence permit and work visa. The Minister of Internal Affairs Teberruken Ulucay said: "Once expats secure permission to purchase to buy a property they will no longer have to apply for the approval of the Cabinet in Lefcosa to change or mortgage this property. Work on this issue is under way and we shared our plans with the Economic Co-ordination committee. We believe this will enable expats to benefit from an easier property transaction”. The minister did not rule out the prospective amendments to the existing law for permission to purchase for foreigners. "We might consider making legal amendments on this issue in the future. But our priority is now to carry out our current proposal”.

1399
17.11.2013

Share on social networks:

Other news


13.02.2024

Marash is a billion pound project.

a consortium of billionaire businessmen from around the world, as well as the world's most successful hoteliers, has prepared a billion-pound project for Maras.
06.02.2024

Multi-storey parking projects in Kyrenia

The Mayor of Girne, Murat Şenkul, made a statement about the multi-storey parking projects initiated to solve the parking problem in the center of Girne and areas of Kervansaray.
02.02.2024

Opening of a fruit and vegetable drying plant established in Yeşilyurt, Lefke district.

The facility, established under the Women's Cooperative for Rural Development (4K KOOP), the country's first women's cooperative, with support from the Turkish Cooperation and Coordination Agency (TIKA), will dry and package fruits such as tangerines, oranges, strawberries and bananas. as a healthy snack without the use of additives.
14.01.2024

Inflation in northern Cyprus rises to more than 83 percent in 2023

The cost of living in Northern Cyprus, whose economic fortunes are linked to Turkey through the lira, has spiraled out of control in the past year, reports Yeniduzen.