Skip to content
North Cyprus Reference

The rules for foreign buyers are rewritten by amendment law

Law 39/2024 rewrites the foreigner property rules

· Turkish Cypriot administration (TRNC) · Amendment law

In force since 21 May 2024.

Adopted on 20 May 2024 and gazetted on 21 May 2024, the amendment redefined "foreigner" to include companies with any foreign shareholding and trustees, limited foreigners to one property (three apartments for citizens of recognising states), required unit titles before application, created the online application with a fee of half the gross minimum wage, set six-month transfer and sixty-business-day tax deadlines, capped same-nationality ownership within a parcel, banned trustee agreements used to exceed limits, set a twenty-million-euro investment threshold, and imposed transitional deadlines on existing contracts.

Before
The 2008 law with the 2018 Council decision in practice: several units per foreigner and trustee arrangements were common.
After
One property per foreigner under the statute, mandatory registration and permission with deadlines, and criminal penalties for evasion.

Rules introduced or carried by this instrument

Where this record comes from

Authority
Official Gazette of the TRNC (State Printing Office)
Jurisdiction
Turkish Cypriot administration (TRNC)
Verification
Primary source verified. We read the primary text ourselves on 14 September 2026.
Legal review
Not yet reviewed by a named legal reviewer.

Concepts

Sources for this event

Numbered in order of first use. Each entry names the kind of source it is and the day we read it.

  1. [1]
    Official Gazette No. 102 of 21 May 2024, Supplement I: Law 39/2024 amending the Immovable Property Acquisition and Long-Term Lease (Aliens) Law

    Official Gazette of the TRNC (State Printing Office) · Legislation and gazettes · 21 May 2024 · original in Turkish · accessed 14 September 2026 · source record

  2. [2]
    Immovable Property Acquisition and Long-Term Lease (Aliens) Law, No. 52/2008, consolidated with amending Law 39/2024

    Central Legislation Office, TRNC · Legislation and gazettes · 10 November 2008 · original in Turkish · accessed 14 September 2026 · source record

  3. [3]
    2024 – New rules on purchasing immovable property for foreigners (TRNC) (Erginel Law)

    Erginel Law, Advocates and Legal Consultants · Professional and legal sources · accessed 14 September 2026 · source record

Cite this record

https://northcyprusreference.com/en/legal-updates/event-2024-05-21-law-39-2024

Identifier event-2024-05-21-law-39-2024 · Open data · challenge