Is it possible for foreigners to establish a company and buy immovable property in North Cyprus as a company?
Limited or joint stock Companies established in foreign countries can be registered as a Foreign (or Overseas) Company in North Cyprus and establish an office (or branch) here, provided that the consent of the Ministry of Economy and a permit from the Board of Ministers are obtained. The registration of companies by non-subjects in the North Cyprus is also possible under Cap 113 Companies Law. The acquisition of immovable property by aliens by way of establishing a company in the North Cyprus is covered under the Law Regulating the Acquisition of Immovable Property by Aliens (Cap 109). All the provisions with respect to property acquisition in effect for Alien Persons are also valid and are exactly the same for Foreign Companies. In other words, although a Turkish Cypriot Company has the right to acquire unlimited immovable property, Foreign Companies (just like foreign persons) can only acquire property of 1 donum at most. For a company to be considered as a Foreign Company, at least
