The Currency and Exchange Law No. 38/1997, Article 11(2), states that banks may open a Foreign-Currency Account for any natural or legal person, and may issue chequebooks against demand foreign-currency accounts. No residence-permit or citizenship condition is stated in this or any neighbouring article.
Claim record · last verified 22 September 2026
How to read this claim
- Jurisdiction
- Turkish Cypriot administration (TRNC)
- Verification
- Primary source verified. We read the primary text ourselves on 22 September 2026.
- Legal review
- Not yet reviewed by a named legal reviewer.
Editorial note
Confirms legal permissibility only — does not confirm any bank's actual product terms, and does not resolve whether a residence permit is required in practice (see the Conflict record bank-account-residence-permit-requirement).
Version history
- — Published from primary-source research. (version 1, First published)
Sources for this claim
Numbered in order of first use. Each entry names the kind of source it is and the day we read it.
- [1]Currency and Exchange Law, No. 38/1997, as amended and consolidated by Law 18/2025
Central Bank of the Turkish Republic of Northern Cyprus · Legislation and gazettes · original in Turkish · accessed 19 September 2026 · source record
Cite this record
https://northcyprusreference.com/en/claims/bank-foreign-currency-accounts-permitted
Identifier bank-foreign-currency-accounts-permitted · Open data · challenge