Frequently Asked Questions

Law regulating the Acquisition of Immovable Property in the TRNC by Aliens (Cap 109) Some important points aliens should pay attention to when buying immovable property in the TRNC. What is to be understood from the "1 donum" limitation for aliens? The legal procedure aliens should follow when buying property from the TRNC. How are the rights of Aliens reserved until the transfer of the title deed? What does Turkish title deed mean? What does equivalent title deed mean? The concepts of Allocation Property and Allocation Title Deed. The cases brought related with the immovable property in the TRNC and their scope. – The Loizidou Case – What is the amount of VAT aliens are liable to pay when acquiring immovable property? Is it possible for aliens to establish a company and buy immovable property as a company? Is it possible for aliens to have shares in Turkish Companies? Regulation on the residence permits in TRNC for aliens. What is the attitude ECHR has had towards similar issues so far? About the Annan Plan. How would the Cyprus Republic structure according to the Annan Plan? The definition of equality according to the Annan Plan. According to the Annan Plan, how many Greek Cypriots shall be able to come into the TRNC? Will the economic embargoes and sports embargoes removed with the Annan Plan? What is the validity of acquiring immovable property through allocation or with points granted for the military or national resistance services in the TRNC? What will happen to the immovable properties acquired this way? What kind of regulations will be made for Greek Cypriot immovable property acquired by Turkish Cypriots through equivalent points in return of the immovable property they owned in South Cyprus? What will happen to immovable property acquired through equivalent property and then sold to third persons? What will happen to the immovable property acquired through allocation and then sold to third persons? What will happen in cases where new buildings were made on Greek Cypriot property or where unfinished Greek Cypriot owned buildings were completed or where Greek Cypriot properties were improved/developed in any other way? Is acquiring property issues unlimited in the regime that will be established after the acceptation of the Annan Plan? If not, what are the limitations? What will happen to Greek Cypriot public buildings or ones on Greek Cypriot property on the North Constituent State? Will the decisions of the Property Commission be final?

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