SUMMARY OF THE DEADLINES UNDER THE PROVISION RULES OF PROPERTY LAW
Almost two years have now passed since the first amendment to the Law on the Acquisition of Immovable Property & Long Lease by Foreigners (Alias Law No. 52/2008) entered into force. During this period, the changes introduced by the law have been widely discussed and thoroughly explained through various professional channels and expert commentary in Northern Cyprus.
The amended law introduced strict deadlines that apply to purchasers who acquired immovable property in the TRNC before May 2024 compliance of which is still remain mandatory. From our perspective, most foreign purchasers who acquired immovable property before 2024 have already contacted their Turkish Cypriot legal advisers and have either:
- Aligned or in the process of aligning their ownership with the current legal requirements; or
- Disposed of their properties.
This article is prepared specifically for those purchasers who have not yet completed their legal requirements under the amended law. Therefore, we have prepared a summary of the key deadlines, many of which will be approaching soon.
This article is prepared specifically for those purchasers who have not yet completed their legal requirements under the amended law. Therefore, we have prepared a summary of the key deadlines, many of which will be approaching soon.
We strongly advise all affected purchasers to complete the necessary procedures before the expiry of the deadlines in order to secure their property rights and remain in compliance with the current regulations.
Key Deadlines Under the Amended Property Law
- Contracts of sale signed before 21.05.2024 must be registered with the District Lands Office no later than05.2026.
- Purchasers who bought immovable property before 21.05.2024 must submit their Permission to Purchase application by 05.2026.
- Transfer of Title Deed where PTP was approved before the Amendment Law must take place by 05.2026.
- Exceeding Acquisition Rights. If a purchaser has exceeded their acquisition limits, an application to the TRNC Ministry of Interior must be submitted by 05.2026.
Applications submitted after 14.05.2026 will be subject to an increased tax rate of 3% instead of 1%. After the application is submitted and the tax is paid, the transfer of Contract of Sale (Sale by Assignment) must be completed no later than 14.05.2028. - All trustee agreements must be registered by 05.2026.
- Purchases Without Kat İrtifak Koçanı. Foreign purchasers may acquire property without a Kat İrtifak Koçanı and apply for PTP provided that a valid Building Permit or Planning Approval exists, until 11.2027.
- Transfer of the title deed & Payment of Taxes. Where a purchaser is considered a contractual owner, and the construction of the property was completed and delivered before 11.2025, the vendor and purchaser must: complete the transfer of the title deed within 36 months, i.e. by 14.11.2028; and pay all applicable taxes and fees at the time of transfer.
If there is a reasonable excuse preventing completion of the title deed transfer within the 36-month period, the Distrct Lands Office must be notified until 14.09.2028, and both the purchaser and/or the vendor shall make the payment of all applicable taxes and transfer fees.
- Transfer of the shared title deed. If it is technically impossible to obtain an individual title deed due to issues arising from shareholders of the property; or technical or structural obstacles related to the project, and it is therefore not possible to establish condominium or easement rights in accordance with the relevant law, the interested shareholders must apply to the Distrct Lands Office by 14.11.2027.
If the Distrct Lands Office approves the application, the transfer of shares may proceed accordingly.
Frequently Asked Questions (Q&A)
If your transaction has not been fully completed in accordance with the current law, you must ensure that all required applications, registrations, and transfers are completed within the statutory deadlines set out above.
Failure to comply with the deadlines may result in: administrative penalties; restrictions on transfer or assignment; or loss of certain legal protections relating to the property.
No, providing the contract is registered no later than 14.05.2026. After this date, registration may no longer be possible.
Yes. Purchasers who acquired property before 21.05.2024 may still apply for Permission to Purchase until 14.05.2026.
Yes. Foreign purchasers may apply for Permission to Purchase until 14.11.2027, providing that a valid Building Permit or Planning Approval exists.
You and the vendor must complete the transfer until 14.05.2026.
If the property was completed and delivered before 14.11.2025 , the title deed must be transferred within 36 months, i.e. by 14.11.2028, and all applicable taxes must be paid at that time.
In such cases, the District Lands Office must be notified of the reasons no later than 14.09.2028, together with payment of all applicable taxes and transfer fees.
If technical obstacles prevent the establishment of condominium or easement rights, the interested shareholders must apply to the District Lands Office by 14.11.2027. If approved, the transfer of shares can take place.
Yes. Each property transaction is unique. We strongly recommend obtaining independent legal advice to ensure full compliance with the amended law and to protect your property rights.
