On 21st of May 2024, the TRNC Legislative Assembly passed significant amendments to the law on Acquisition of Immovable Property and Long-Term Lease (Aliens Law) No. 52/2008. These changes have a notable impact on property transactions. This article summarizes the amendments to help you understand how they affect both new and existing property owners who…
The Immovable Property Commission (IPC) was set up, under law 67/2005, to provide remedies for properties that had to be abandoned by Greek Cypriots in northern Cyprus, pursuant to the events of 1974. The IPC has been in operation since then and is a body that is recognised by the European Court of Human Rights,…
Mrs Peyman Erginel had the honor to tell her story of her success as the very first woman advocate in the TRNC at the the occasion of the “40 Entrepreneurial Women in the 40th Anniversary of the Republic”. The event was a photography exhibition that was organized by the “Turkish Cypriot Entrepreneur Women’s Association”, and…
In order to conduct any kind of business in the north of Cyprus, a local company has to be incorporated. The law of Northern Cyprus provides prosperous conditions for foreign investors to conduct commercial activities in many sectors. Although there are certain types of business activities that may require foreign investors to partner with Turkish…
Over the past few years, cryptocurrency has become one of the most discussed topics throughout the world. Buying and selling cryptocurrency is extremely popular nowadays, especially in the TRNC. There are dozens of cryptocurrency exchange points all over Northern Cyprus. Moreover, there are a growing number of TRNC companies that allow customers to use cryptocurrency…
The TRNC official gazette no. 350/2021 of 12 May 2021 indeed provides some exemptions to the residence permit requirement. There is reference to foreign citizens above the age of 60. However the exemption is subject to conditions. The relevant paragraph creates an exemption for mothers and fathers above the age of 60, in the following cases: –…