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Foreign legal entities need permission after a security check of their people

Rule record · last verified 14 September 2026

Rule

Purchases and long-term leases by foreign legal persons are subject to Council of Ministers permission, conditional on a positive security investigation of their directors, managers, shareholders or members. The same applies when a foreign legal person transfers its shares to another foreigner or changes a foreign director, manager or trustee.[1]

Exceptions

  • Companies registered in the TRNC whose shares are publicly offered, or publicly held companies established in the TRNC.

Applies to: Companies and other legal entities

Legislation · Turkish Cypriot administration (TRNC) · Immovable Property Acquisition and Long-Term Lease (Aliens) Law, Article 4(5) · in force from 21 May 2024 · last verified 14 September 2026 · rule record

Where this rule comes from

Jurisdiction
Turkish Cypriot administration (TRNC)
authority
Assembly of the Republic (Cumhuriyet Meclisi), TRNC
Instrument
Immovable Property Acquisition and Long-Term Lease (Aliens) Law, No. 52/2008, consolidated with amending Law 39/2024, Article 4(5)
Basis
Legislation · asserted by us within this jurisdiction
Verification
Primary source verified
in force from
21 May 2024
until
open

Regulatory events

History of this rule

  • — First encoded from the primary text. (version 1, initial)

Sources for this rule

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

  1. [1]
    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 · register entry

Identifier foreign-legal-entity-permission-and-security-check · Review priority: consequential · Open data · challenge this rule