On 20 November 2024, the Council of Ministers issued Decree No. 50/2024 regarding the Status of Existing Sales Contracts and extending the periods outlined in the Transitional Section 1 of the Immovable Property Acquisition and Long-Term Lease (Foreigners) Amendment Law. According to the decree, the deadline for registering contracts of sale, applying for permission to…
On the 28th of September, Advocate Peyman Erginel, the Legal Advisor of the British Residents Society (BRS), delivered a presentation on the recent Amendment Law concerning the acquisition of immovable property by foreign nationals, which was passed on the 21st of May 2024. During the presentation, Advocate Peyman Erginel summarised the key changes introduced by…
You should be aware that the laws and the procedures regarding process and requirements for getting residence permits in Northern Cyprus are subject to sudden and unannounced changes. Such changes may require additional documents to be provided to the Police and/or the Ministry of Interior upon submission of the documents. RESIDENCE PERMIT BASED ON HIGH…
Deadline for Payment of Taxes Extended for 60 Business Days starting from 12th of November 2024. According to the Decree no. 232/2024 issued by the TRNC Council of Ministers and published in the Official Gazette on 12th of November 2024, the vendors and foreign purchasers who have obtained permission to purchase, but have not been…
On 21st of May 2024, the TRNC Legislative Assembly passed significant amendments to the law on Acquisition of Immovable Property and Long-Term Lease (Aliens Law) No. 52/2008. These changes have a notable impact on property transactions. This article summarizes the amendments to help you understand how they affect both new and existing property owners who…
The Immovable Property Commission (IPC) was set up, under law 67/2005, to provide remedies for properties that had to be abandoned by Greek Cypriots in northern Cyprus, pursuant to the events of 1974. The IPC has been in operation since then and is a body that is recognised by the European Court of Human Rights,…
READ ALSO MAY 2024 – NEW RULES ON PURCHASING IMMOVABLE PROPERTY FOR FOREIGNERS (TRNC) On 27 January 2023, the TRNC Legislative Assembly passed amendments to the law on transfer tax. In accordance with the amendments, foreigners, except Turkish citizens, are now required to pay 12% transfer tax in order to get title deeds transferred into their names….
In order for documents signed abroad to be recognised in Northern Cyprus, they must be certified by a TRNC Representative’s Office (see below) OR the Turkish Embassy in the country where the signee resides. Certification by Turkish Embassies Due to new rules implemented by the Turkish Embassy in Northern Cyprus regarding documents certified by a…
Mrs Peyman Erginel had the honor to tell her story of her success as the very first woman advocate in the TRNC at the the occasion of the “40 Entrepreneurial Women in the 40th Anniversary of the Republic”. The event was a photography exhibition that was organized by the “Turkish Cypriot Entrepreneur Women’s Association”, and…
In order to conduct any kind of business in the north of Cyprus, a local company has to be incorporated. The law of Northern Cyprus provides prosperous conditions for foreign investors to conduct commercial activities in many sectors. Although there are certain types of business activities that may require foreign investors to partner with Turkish…