The foreign property-acquisition decree was renewed four weeks before its expected expiry, almost entirely unchanged
Decree 119/2026 repeals and replaces Decree 89/2026
· Turkish Cypriot administration (TRNC) · Decree with force of law
In force since 6 October 2026.
Gazetted 6 October 2026, Decree 119/2026 explicitly repeals Decree 89/2026 (the predecessor decree NCR's 20 decree-dependent rules were sourced from) on the date it takes effect, and restates its own version of the same rules. Found via a routine Gazette watch on 10 October 2026 — four days after the repeal had already taken effect, during which NCR's published content had been stating the repealed decree as current. Read in full and compared figure by figure against the repealed text: the core acquisition limits, deadlines (one month to register, one year to transfer, 75 business days to pay tax, 36 months for completed dwellings, 24 months and 6 months for the pre-2024-contract transitional routes, 10-year usage certificates, 6-month administrative-fault extension), the 80% same-parcel cap, the €10,000,000 investment threshold, the 49% build-and-sell partnership cap, and the Licensed Intermediary Investor's core terms are ALL restated with unchanged figures — this is predominantly a renewal, not a substantive rewrite, matching its own stated purpose (extending periods and making parallel adjustments to protect tax and fee collection, since the Assembly's own amendment to Law 52/2008 still has not passed). Two genuine changes: new Licensed Intermediary Investor procedural detail (an annual licence fee of twice the monthly minimum wage; a Holiday-Homes-usage-certificate fallback, or licence cancellation, if an investor fails to market/transfer within 2 years); and the general Permission-to-Purchase applicant's criminal-record apostille/3-month-recency requirement is not restated anywhere in the new decree's text and appears to have lapsed. One transitional paragraph (Geçici Madde 1(6)) was dropped without replacement; its content does not correspond to any existing NCR rule.
- Before
- Decree 89/2026 (7 August 2026 – 5 October 2026) governed foreign property acquisition, carrying 20 NCR rules with effectiveTo 2026-11-05 (the expected ~90-day constitutional expiry).
- After
- Decree 119/2026 (from 6 October 2026) governs the same subject, restating the same rules almost entirely unchanged, now running its own ~90-day constitutional term (next check expected around early January 2027). The PTP applicant criminal-record apostille/3-month requirement has lapsed; Licensed Intermediary Investor procedure gained a stated annual fee and a usage-certificate fallback.
Rules introduced or carried by this instrument
- Current acquisition limits under the decree in forceIn force from 6 October 2026 until 4 January 2027.
- Build-and-sell partnerships with local contractors (foreign share up to 49%)In force from 6 October 2026 until 4 January 2027.
- Council may extend transitional periods by up to six months for administrative faultIn force from 6 October 2026 until 4 January 2027.
- Licensed intermediary investorIn force from 6 October 2026 until 4 January 2027.
- Current investment threshold: ten million eurosIn force from 6 October 2026 until 4 January 2027.
- Completed, delivered dwellings bought before the decree: transfer within thirty-six monthsIn force from 6 October 2026 until 4 January 2027.
- Investment property bought under the law may be sold to another foreigner with permissionIn force from 6 October 2026 until 4 January 2027.
- Where a unit title is impossible, shares may be transferred with the Land Registry Director’s approvalIn force from 6 October 2026 until 4 January 2027.
- Over-limit pre-2024 contracts must be transferred within twenty-four monthsIn force from 6 October 2026 until 4 January 2027.
- Register the stamped contract and apply for permission within one month, or the contract is voidIn force from 6 October 2026 until 4 January 2027.
- Current deadline: transfer fees within seventy-five business days; no utilities until taxes are paidIn force from 6 October 2026 until 4 January 2027.
- Pre-2024 contracts above the limits: notify with a fee of one per cent (three per cent if late)In force from 6 October 2026 until 4 January 2027.
- Current deadline: transfer within one year of the permission being publishedIn force from 6 October 2026 until 4 January 2027.
- Pre-2024 contracts: register and apply within six months of the decreeIn force from 6 October 2026 until 4 January 2027.
- Pre-2024 trustee agreements: register within six months or they are voidIn force from 6 October 2026 until 4 January 2027.
- Current cap: at most eighty per cent of a housing project may be sold to foreignersIn force from 6 October 2026 until 4 January 2027.
- A foreigner may transfer to close relatives with Ministry approvalIn force from 6 October 2026 until 4 January 2027.
- Usage certificate for over-limit pre-2024 contracts: ten years, ownership stays with the sellerIn force from 6 October 2026 until 4 January 2027.
Rules displaced or replaced
- Current acquisition limits under the decree in forceIn force from 6 October 2026 until 4 January 2027.
- Build-and-sell partnerships with local contractors (foreign share up to 49%)In force from 6 October 2026 until 4 January 2027.
- Council may extend transitional periods by up to six months for administrative faultIn force from 6 October 2026 until 4 January 2027.
- Licensed intermediary investorIn force from 6 October 2026 until 4 January 2027.
- Current investment threshold: ten million eurosIn force from 6 October 2026 until 4 January 2027.
- Completed, delivered dwellings bought before the decree: transfer within thirty-six monthsIn force from 6 October 2026 until 4 January 2027.
- Investment property bought under the law may be sold to another foreigner with permissionIn force from 6 October 2026 until 4 January 2027.
- Where a unit title is impossible, shares may be transferred with the Land Registry Director’s approvalIn force from 6 October 2026 until 4 January 2027.
- Over-limit pre-2024 contracts must be transferred within twenty-four monthsIn force from 6 October 2026 until 4 January 2027.
- Register the stamped contract and apply for permission within one month, or the contract is voidIn force from 6 October 2026 until 4 January 2027.
- Current deadline: transfer fees within seventy-five business days; no utilities until taxes are paidIn force from 6 October 2026 until 4 January 2027.
- Pre-2024 contracts above the limits: notify with a fee of one per cent (three per cent if late)In force from 6 October 2026 until 4 January 2027.
- Current deadline: transfer within one year of the permission being publishedIn force from 6 October 2026 until 4 January 2027.
- Pre-2024 contracts: register and apply within six months of the decreeIn force from 6 October 2026 until 4 January 2027.
- Pre-2024 trustee agreements: register within six months or they are voidIn force from 6 October 2026 until 4 January 2027.
- Current cap: at most eighty per cent of a housing project may be sold to foreignersIn force from 6 October 2026 until 4 January 2027.
- A foreigner may transfer to close relatives with Ministry approvalIn force from 6 October 2026 until 4 January 2027.
- Usage certificate for over-limit pre-2024 contracts: ten years, ownership stays with the sellerIn force from 6 October 2026 until 4 January 2027.
- PTP criminal-record certificate: currently must be apostilled and no more than three months oldIn force from 7 August 2026 until 6 October 2026.
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 10 October 2026.
- Legal review
- Not yet reviewed by a named legal reviewer.
Editorial note
ptp-criminal-record-apostille-and-recency-current appears in rulesBefore only — its own decree-sourced requirement is not restated in 119/2026 and the rule is marked expired, not superseded by a same-named continuation (see that rule's own versions[] and exceptions). Every other rule listed keeps its own id across the renewal (same substance, new source citation and effectiveTo) rather than being superseded by a new id, since nothing material changed in their own text.
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]Decree with force of law 119/2026 regulating the rules on acquisition of immovable property by foreigners (Official Gazette No. 196, EK I Bölüm II, 6 October 2026)
Official Gazette of the TRNC (State Printing Office) · Legislation and gazettes · 6 October 2026 · original in Turkish · accessed 10 October 2026 · source record
Cite this record
https://northcyprusreference.com/en/legal-updates/event-2026-10-06-decree-119-2026
Identifier event-2026-10-06-decree-119-2026 · Open data · challenge