We continue the series of articles about Northern Cyprus. Today we will discuss the key moments in life and moving.
Content:
- Residence permit of Northern Cyprus
- Why you should choose the TRNC for permanent residence
- Why it is profitable to buy an apartment in Northern Cyprus
- TRNC: about the districts in a nutshell
Residence permit of Northern Cyprus
One of the great advantages of buying a home in the Turkish Republic of Northern Cyprus is that it is much easier to get a residence permit here than in Turkey.
There are no requirements for the "lowest purchase amount" (which has been $200,000 in the country since October 16, 2023, instead of the previous $75,000). When buying property in Turkey for a smaller amount, you can get a residence permit, but it is troublesome, and there are no guarantees for this. Moreover, you will no longer be able to apply for citizenship with such a non-TAPU residence permit.
Northern Cyprus has no a) restrictions on the amount, at least for now, and b) areas that are "closed" for obtaining a residence permit. Choose and live — and get registered wherever you want.
Overall, the process is much simpler: after concluding a purchase agreement and making a down payment, you can get a residence permit. A mandatory requirement is that you have £10,000 in your local bank account: this amount must be in your account within a year. That is it. You can extend your residence permit by showing the same document with this amount in your account.
Moreover, you can obtain a residence permit for rental housing in Northern Cyprus, but there are some rumours about stricter rules that will come into force unknown when. This means it may happen soon, so it is better not to take any chances.
A residence permit in Northern Cyprus gives the right not only to stay for any period of time, but also to attend kindergartens to children, study at schools, colleges and universities. Residents have access to medical care with free outpatient services and the option to call for an ambulance at home, although emergency services are primarily dispatched for life-threatening situations.
By the way, branches of well-known European medical clinics are available for those concerned about health standards in the TRNC. Numerous Europeans come to this location for medical procedures and surgeries, as they are more affordable, and the doctors are equally skilled international specialists.
Having a residence permit, you can exchange a driver's license, use banking services and interact with other entities — in other words, you can live as a resident of the country. Another issue is that the TRNC remains an "unrecognized republic" for the world community, and the "powers" of the residence permit of Northern Cyprus in other countries are irrelevant. This problem will be resolved gradually over time.
Why you should choose the TRNC for permanent residence
- "One of the longest lives on the planet is in Cyprus": this confirmed fact speaks for itself. This place offers favourable climate, over 300 sunny days a year, beautiful nature and excellent ecology. Moreover, many people do not know that GMOs are prohibited by law in Northern Cyprus.
- Production is virtually non-existent, and emissions are negligible.
- The security level is outstanding, including Southern Cyprus. However, the whole island is famous for this. The crime rate in the TRNC is low. For example, refugees from Syria and similar countries sailing by sea in search of asylum bypass the TRNC because they are looking for European benefits, payments and something like that, which is impossible in Northern Cyprus. So, residents hide the keys to their houses under the rug, do not lock their cars and homes, and may accidentally leave their phones on the table in a cafe and find them there later.
- Earthquake safety: first, the tremors here are weaker than in Turkey: up to 4–5 points. Second, the quality of construction in Turkey has improved since February 2023, and buildings here that meet European standards are under close supervision. Any buyer can request specifications for any building and get acquainted with them. Finally, there are many low-rise buildings here, with high-rise blocks being uncommon, as most people favour residing in low-rise houses in Turkey. So, about 80% of the housing stock is 3–4 floors.
- The opportunity to lead a secluded lifestyle, as this place is sparsely populated (look at the number of floors of buildings above).
- The swimming season is quite long: from April to mid-November. Famagusta bays are warmer than in Turkey.
- The Cypriot climate is specific, unlike the Turkish one: heavy rains do not fall for several days, even in winter. If it rains heavily, at least for a short time, the weather is sunny almost every day.
- The country retains the atmosphere of the European Union and is not Muslim like some cities in Turkey. There are not mosques in the resort areas.
- Air traffic is developing rapidly: the local Ercan Airport was renovated and significantly expanded last summer, and everyone is looking forward to direct charter flights.
- You do not need a car in such areas as Guzelyurt, Girne (Kyrenia) and Iskele. These are resort areas — everything you need for a comfortable life is within walking distance.
- Many people also choose the TRNC for their children and their future: the local education system is integrated into the international one, which makes it possible to enroll in the vast majority of universities in Europe, the United Kingdom and the United States. Diplomas of local universities are also accepted worldwide. The education here is of the highest quality: schoolchildren and students from 70 countries from all over the world come here to study. Moreover, you do not need to buy an apartment in Turkey and apply for a residence permit for rent to study here for a fee: it is enough to pay for your studies and easily legalize your stay. The prices are affordable. So, it is quite possible that Northern Cyprus will soon become an educational centre as Malta was.
Why it is profitable to buy an apartment in Northern Cyprus
- No one asks the source of the money. By the way, hundreds and thousands of investors from all over the world who do not want to detail their incomes come here for this reason.
- Money in Turkey does not have to be deposited into an account or converted into a specific currency; you can pay with cryptocurrency from a credit card with an unlimited number of transactions offering more than two options. Swift transfers from a couple of banks are effective as well. You can bring cash to the sales office if you have the opportunity. However, this option is no longer available in Turkey.
- An apartment size in the TRNC is considered without (!) a balcony, unlike in Turkey, which makes apartments of the same area much more spacious: the balconies here, as in Turkey, are huge.
- Aidat is lower here, for example, you can pay 40–50 TL per month for a studio (1+0) and 50–70 TL for a 1+1 residence. These are mere pennies compared to the hundreds and thousands in Turkey.
- The property tax is minimal — 5 TL per 1 sq. m.
- Real estate prices, despite their huge jump in 2023, are affordable starting at £50,000 (about $60,000), for example, in a hotel-type apartment complex. The buyer receives a fine finish with furniture and a sea view for this amount. Such apartments are convenient and profitable to rent them out, as 5-star hotels are located in resort areas with casinos, etc. Overall, they are designed for a wealthy audience. However, there are few 3- and 4-star hotels here, while the tourist flow to the island is steadily growing.
- The opportunity to purchase real estate in TRNC only for rent, but using it on holiday: some developers with their own management companies — and communities with hotel infrastructure — offer this option. For example, the owner can come here for 15 days (up to a month in some cases) a year with the right to use his residence and the entire hotel infrastructure free of charge. He makes a profit from the lease the rest of the time, excluding the commission paid to the management company.
- It is easy to quit the project if you decide to sell your property in one of the off-plan projects in Turkey or change your mind. You can get acquainted with the terms of withdrawal from the project from the developers, but you can resell your home for 50% of the amount paid with a good profit. If the installment terms are retained for the next (new) buyer, your property in a good location will be sold at your price.
TRNC: about the districts in a nutshell
Girne (Kyrenia) is perfect for permanent residence in Northern Cyprus, occasional holidays and investments. The infrastructure is incredibly developed: schools, universities, kindergartens, shops, shopping centres, numerous hotels, hairdressers, cafes, bars, restaurants, spas, an impressive coastline and so on. By the way, many Europeans have chosen this region as a "paradise for pensioners."
Iskele is a promising destination for investment and recreation. Numerous foreigners, seduced by the vast coastline and state-of-the-art residential complexes, choose this place. There are high- and low-rise buildings in Iskele.
Guzelyurt is a new and promising region for investments in the TRNC, which is becoming popular and famous. It is small, but similar to Iskele with its infrastructure and coastline. The biggest advantage is that Guzelyurt has the cheapest housing for sale in the TRNC starting at £50,000.
Famagusta is a region to live in: residential complexes have less infrastructure, and there are fewer social and government institutions in the area. There is only one beach. However, you can lead here a quiet and cosy Cypriot lifestyle.
The capital of Nicosia is a traditional Cypriot town. It can be considered a university campus: there are many educational institutions here.