🚩Northern Cyprus has passed new laws to regulate the acquisition of real estate by foreigners. Here are the key points:
1️⃣ Foreigners can purchase:
- One unit of real estate with the approval of the Council of Ministers.
- A plot of land up to 1338 square meters with the possibility of building one house.
- One apartment.
- A separate house on a plot of land up to 3300 square meters. meters.
2️⃣ To purchase it is necessary to provide the title deed and pay a fee of half of the monthly minimum wage.
3️⃣ Purchase is possible only after a positive security check. In case of rejection, re-application requires double the fee.
4️⃣ The transfer process must be completed within six months of approval.
🔹️ These measures are aimed at balancing investment and protecting the interests of local residents. 📊
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