TRNC: Residency Via Property

Investing in property for residency in the Turkish Republic of Northern Cyprus (TRNC) it’s the best financial decision. The real estate market in the country has shown promising growth, making property ownership not only a pathway to residency but also a potentially rewarding investment. This dual benefit ensures that individuals are not only securing a place to call home but also making a shrewd economic choice.

One of the standout advantages of TRNC’s residency program is its simplified application process. The straightforward nature of the process makes it an attractive choice for those seeking to establish residency without the complexities often associated with such endeavors. With clear guidelines and efficient procedures, individuals can navigate the process with ease and confidence.

Once residency is obtained through property ownership in TRNC, residents are rewarded with the privilege of visa-free travel to a number of neighboring countries. This opens up a world of exploration and adventure, allowing residents to seamlessly immerse themselves in nearby cultures, landscapes, and experiences. Whether it’s a weekend getaway to neighboring countries, TRNC’s residency program fosters a sense of global connectedness.

TRNC’s real estate market is as diverse as the island’s landscapes themselves. From charming coastal villas to modern urban apartments and tranquil countryside retreats, there’s a property to match every individual’s preferences and aspirations. This wide range of options ensures that those seeking residency can find a property that not only meets their practical needs but also resonates with their lifestyle dreams.

The most popular migration routes to Northern Cyprus in 2023 are as follows:

1. Residency via Property Rental in Northern Cyprus: One of the simplest ways to obtain residency in the Turkish Republic of Northern Cyprus (TRNC) is through property rental and demonstrating your financial status. With $10,000-$20,000 USD per adult, obtaining high-income residency in Northern Cyprus is relatively straightforward. The following program requirements apply:
   • Confirmation of a monthly income source from another country, equivalent to at least 3 times the local average monthly wage. In 2023, the minimum requirement is 36,000 TL per month.
   • A long-term lease agreement for property registered with the tax office (the rental cost is not significant; the registration fee for the lease agreement is around TL 250).
   • Property owners need to pay a 13% rental tax if the agreement is in US dollars, euros, or British pounds, and 8% if it’s in Taiwanese dollars.
   • Obtain a certificate from the village headman (Muhtar), costing around TL 20 per person.
   • Deposit $10,000 to $15,000 USD per adult into a local bank and obtain a statement indicating the deposit amount and account balance.
   • Translate and notarize foreign documents into Turkish, an officially local language.
   • Register on the official website online.
   • Submit documents to the police station (separate documents for each applicant).
   • Pay for and attend medical examinations and insurance.
   • Online issuance of residency permit.
2. Residency through Property Purchase in TRNC: The second most popular and simple way to quickly obtain residency in Northern Cyprus is by purchasing a property. The procedure for obtaining residency is similar to renting, with the exception that a certificate of no criminal record is required. Initial permission is granted for one year and can be immediately extended for three years. Spouses and children under 18 automatically receive residency on the same property (family residency).
3. Residency for Employment in TRNC: To work in Northern Cyprus, you need to obtain a work permit approved by the Ministry of Labour and Social Security. You can work only for the company mentioned in the work permit application. The employer or company then applies for residency on behalf of the employee. Processing the residency application for employment takes about four months and is valid for one year.
4. Entrepreneur Residency in TRNC: Entrepreneurs and investors can obtain residency through an accelerated program by following these procedures:
   • Obtain a 30-day visa upon entry by providing proof of financial stability.
   • Apply to the Commercial Department and obtain a certificate allowing business establishment in the country.
   • Register with tax and immigration authorities.
   • Open a bank account and deposit at least $100,000 as share capital. The bank provides a letter to confirm compliance with this requirement to the Chamber of Registration.
   • Establish a local company with a minimum of 2 shareholders and 1 director.
   • Set up a local office in Northern Cyprus.
   • Provide a guarantee letter from foreign directors regarding tax obligations.
   • Exemption from share capital.

Note: Northern Cyprus has favorable tax policies, with an average VAT rate of 5% and a stamp duty of 0.5%. Restrictions for foreign investors apply only in the construction industry, allowing foreign ownership of up to 49% of company shares. The entrepreneur residency is valid for 12 months with the possibility of annual renewal.

5. Student Residency in TRNC: Student residency grants the right to both live in the country and receive higher education recognized by European countries.
6. Retiree Residency in TRNC: Foreign retirees aged 60 and above can obtain residency in Northern Cyprus more easily than other citizens under the F category. An applicant’s restriction for this program is that they are not residents of a European Union member country. Retiree residency can be obtained by purchasing a home of any value. Foreign retirees can live in the country for up to a year before obtaining residency without violating the law. Individuals over 60 are not required to undergo medical examination.

List of standard documents required for obtaining residency in TRNC:

• Confirmation of financial stability, e.g., bank statement from a TRNC or foreign financial institution.
• Lease agreement or property purchase contract.
• Certificate from the village headman confirming the foreigner’s address.
• Two passport-sized photos (3.5 x 4.5 cm).
• Passport and its copies.
• Residency application.
• Medical insurance.
• Marriage certificate (if applicable).
• Certificate of no criminal record (if applicable).
• Birth certificates of children (if applicable).
• Receipt of payment for state fee.

CITIZENSHIP OF TURKISH REPUBLIC OF NORTHERN CYPRUS:

If you want to become a citizen of Northern Cyprus, you must meet the following criteria:

• Citizenship by Birth:
  • Citizenship by place of birth.
  • Citizenship obtained through adoption.
  • Citizenship obtained through a decision of the Ministry.
  • Citizenship obtained through a decision of the Council of Ministers.
  • Citizenship of TRNC obtained by law.
  • Naturalization through adoption.

Before applying for a TRNC identity card or passport, you must meet one of the following criteria:

• Having at least one Turkish Cypriot parent.
• Marital status: Being married to a TRNC citizen for more than 1 year.
• Having a birth certificate issued in TRNC.
• Residing in Cyprus for more than 5 years.
• A relative participated in a peace operation in Cyprus.

Note: By acquiring property in TRNC, you can obtain residency, not citizenship.