Council of Ministers Decree of 15 May 2025 reshapes foreign property ownership rules in Northern Cyprus

Council of Ministers Decree of 15 May 2025 reshapes foreign property ownership rules in Northern Cyprus

On 15 May 2025 the Turkish Republic of Northern Cyprus (TRNC) published a Council of Ministers Decision in the Official Gazette, introducing significant revisions to property acquisition by non-TRNC citizens.

Key provisions

1. Ownership limits

   • Turkish citizens may now purchase up to six apartments or three two-storey villas located on a residential site.

   • Other foreign nationals may buy up to three apartments or two two-storey villas on a residential site.

2. New Land Registry transfer fees

   • Turkish citizens: 6 % on the first transfer, 8 % on the second, 9 % on the third and subsequent transfers.

   • All other foreigners: a flat rate of 9 %.

3. Contracts of Sale signed before 15 May 2025

   • Where construction is complete and the unit delivered, title transfer must occur within 36 months from 15 May 2025.

   • Buyers with a valid reason may apply to the Land Registry within 34 months; a decision must follow within 15 days. All taxes remain payable within the 36-month window.

4. Shared-title properties acquired before 15 May 2025

   • If individual deeds cannot be issued, co-owners have two years to apply for permission to transfer their shares to third parties.

5. Extended deadlines under the 21 May 2024 legislation

   • Buyers whose Purchase Permission is granted after 21 May 2024 now have 12 months (instead of 6) to take title.

   • If instalments are still outstanding, the 12-month countdown begins once payment is completed. All taxes must be paid within 75 working days of the permission date, or the permission lapses and utilities will not be connected.

   • The registration window for Contracts of Sale signed before 21 May 2024 is extended by 6 months from 15 May 2025.

   • The notice period to inform the Ministry about holdings in excess of statutory limits is also extended by 6 months. The 24-month disposal period now starts after this new notice deadline. Alternatively, buyers may apply for a 10-year right of use (excluding vacant land) after paying all taxes.

   • Title transfers where permission was issued prior to 21 May 2024 must be completed within 6 months from 15 May 2025.

   • Trust Deeds executed before 15 May 2025 must be registered within 6 months of that date.

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