Kıbrıs Developments
Good Things Are Happening in Northern Cyprus
Good Things Are Happening in Northern Cyprus

Good Things Are Happening in Northern Cyprus

The amendments made to the Real Estate Acquisition and Long-Term Lease Law are as follows;

  • A 5-year residence permit was granted to owners of registered real estate without any income requirement.

  • Visa facilitation based on immovable property sales contracts has been provided - a 90-day visa can now be obtained with a contract approved by the Tax Office instead of the Land Registry Office.

  • A 2-year residence permit will be granted with a sales contract and a 5-year residence permit with the approval of the Council of Ministers - Minimum Income requirement has been removed.

  • Residence permit exemptions were introduced for students under the age of 18.

  • Penalty amnesty was implemented for students under the age of 18.

  • A “legal status” condition was introduced for exemption in marriages with TRNC citizens.

  • The short-term residence period has been increased to 1 year for the first application and to 2 years for subsequent applications.

  • Health insurance benefits were introduced for foreign property owners over the age of 60 - the mandatory check-up period was extended to 5 years, and private hospitals were also included in the scope.

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Author :Kıbrıs Developments