February 2019

Acquisition of an Immovable Property by Overseas Citizens in TRNC

Law No. 52/2008 on the acquisition of immovable properties by overseas citizens in the TRNC was amended. In the statement made by the Ministry of Interior, it was stated that in accordance with the provisions of the Law on Acquisition of Immovable Property According to the Properties and Long-Term Leasing (Overseas Citizens) No. 52/2008, overseas citizens can now buy as many as 2 detached houses, 3 apartment flats only in the case of vertical growth instead of only 1 which was permitted originally. With the said amendment to the law it was claimed that the territorial integrity of the country would be protected.

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