DRAFT LAW ON OWNING AND LONG-TERM LEASING OF IMMOVEABLE PROPERTY IN THE TRNC IS OPEN FOR DEBATE
The Committee on Law and Political Affairs of the Republic’s Assembly has started debating the draft law on ‘Owning and Long-term Leasing of the Immoveable Property’- which will be binding for foreigners if passed.
The Committee started the debate under the leadership of the Committee President- the Republican Turkish Party MP Kadri Fellahoglu at yesterday’s session.
The draft law foresees a series of arrangements for foreigners in owning and leasing property in the Turkish Republic of Northern Cyprus.
It aims to provide more appropriate rules for foreigners under today’s conditions in buying immoveable property in the TRNC.
The draft law on ‘Owning and Long-term Leasing of the Immoveable Property’ also allows foreigners to own property through long-term leasing.