Rule
A foreign natural or legal person may buy immovable property in Northern Cyprus only after obtaining a purchase permission from the Council of Ministers, and may take a long-term lease only with prior Council of Ministers permission.[1]
Practical implication
Signing a contract and paying does not make you the owner. Title can only pass into your name after the permission is granted and published, and within the deadlines that then run.
Applies to
- Who:
- Other foreign nationals · Citizens of states recognising the TRNC with reciprocal rights · Turkish citizens · Individuals · Companies and other legal entities · Trustees acting for a foreigner