What should be done if the real estate sale contract was registered before May 21, 2024?

From the moment the "Foreigners' Property Acquisition Law" comes into force, starting May 21, 2024, several steps will need to be followed.

Actions after the contract registration

If your real estate sale contract in Northern Cyprus was registered with the tax authorities and the land registry before the law comes into effect (i.e., before May 21, 2024), you need to submit an application for approval to the Council of Ministers by November 20, 2024. For contracts registered after May 21, 2024, the application must be submitted within six months from the registration date.

• Additional information on applying to the Council of Ministers

Frequently Asked Questions

What to do after submitting the application for approval?

Wait for the decision. No further actions are required from you until approval is granted or a refusal is received from the Council of Ministers.

What does this approval mean?

The approval from the Council of Ministers is required to formalize ownership rights in your name, i.e., to obtain the title deed for the property.

Who can conduct real estate transactions in Northern Cyprus?

According to the new law, only companies that are members of the Northern Cyprus Realtors Association can engage in real estate activities. Learn more about the law.