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Northern Cyprus Residence Permit by Investing In Real Estate

Northern Cyprus, probably, can be the leader affordable prices for everything including the real estate with visa-free entry.

There are some advantages as below;

  • without any restriction on the value of the real estate,
  • without any need to open a business or a company,
  • without any limitation on the duration of stay in the country.

If we compare the other countries who accept the emigration by investing real estate, known as,golden visa in Spain is possible when buying a real estate object of 500,000 euros + 10% VAT, in South Cyprus – 300,000 euros + 20% VAT, in Greece – from 250,000 euros + 24% VAT.

The acquisition of even the most budgetary real estate object in Northern Cyprus gives the right to obtain the residence permit. For its customers investRestate provides free consultations on the preparation of the package of the needed documents for obtaining the residence permit. The official response on this procedure comes within 21 days.

We need to note, that the residence permit and the annual tourist visa of Northern Cyprus is the same document that gives the right to foreign citizens to permanently reside on the territory of the TRNC within a year.

WHAT IS THE BENEFIT OF RESIDENCE PERMIT

  • Most of people understand that the main advantage of the residence permit is the opportunity to live on the territory of the Northern Cyprus for a year, without leaving the country.
  • The residence permit of the Northern Cyprus also allows foreign citizens to arrange medical insurance,
  • Teach their children in free kindergartens and schools,
  •  Open their accounts in international banks. In addition,
  • The residence permit in the Northern Cyprus gives the opportunity to obtain in a simplified manner the visas of many popular countries (Great Britain, Germany, USA, Italy) in their embassies on the territory of Northern Cyprus.
  • Together with the owner of a real estate object in Northern Cyprus, the right to have the residence permits is also given to the members of his family.

Note, that the residence permit, obtained on the basis of the purchase of a real estate object, gives the right only to stay in Northern Cyprus. For the employment in Northern Cyprus, the work visa is required.

For the children under 18 and the pensioners, who have reached the age of 60 years, the registration of the residence permits is not required. They can stay in the Northern Cyprus for unlimited time.

The residence permit should be updated annually.

THE DOCUMENTS YOU NEED

The necessary documents when you apply for the residence permit in Northern Cyprus are (the list was updated in 2017):

  • the registered contract of sale – the original and a copy
  • the certificate from the district headman (Mukhtar) at the place of the purchase of the real estate
  • a copy of the current passport (the front page and the page with the stamp, affixed to the passport control at the entrance)
  • the marriage certificate for spouses (translated and certified by the local court)
  • the birth certificate (for children over 18)
  • 2 photos as for the passport
  • the presence of not less than 10 000 euros or the equivalent in Turkish Liras on the account in the local bank for an adult member of the family
  • the state stamps worth 13.2 Turkish Liras (app.4 euros)
  • a general blood test in the public clinic (app.40 euros)
  • the state fee is 237 Turkish Liras (≈70 euros)

After 21 days from the date of the submission of the documents to the district police department, you will receive the residence permit in Northern Cyprus for the period of 6 to 12 months and renew it one month before the expiration date.

The refusal to receive the residence permit is obtained from a positive blood test for Hepatitis and HIV. After 7 years of extending the temporary residence permit, a foreign citizen receives the permanent residence permit, which gives the right to permanent residence without further processing of any documents for any time.

CITIZENSHIP OF THE NORTHERN CYPRUS

The citizenship in Northern Cyprus can be obtained by a resident of Northern Cyprus, who permanently lives or works in the territory of the Northern Cyprus for 6 years (for people over 60 years – 5 years), who does not have legal or administrative violations. In addition, the citizenship of Northern Cyprus can be awarded to the foreign citizens who have made a significant contribution to the economic or political development of the Northern Cyprus.


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Postal Code: 34724
Office Telephone: +90(216)330 35 84
Mail: info@investrestate.com
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