Realty limits in occupied Cyprus
Dursun Oguz, the so-called “interior minister” of Turkish-occupied Cyprus, announced new restrictions on land sales to foreigners in the occupied territories during his visit to Ankara.
Speaking to Kibris TV, Oguz emphasized the need to address loopholes in the existing “law,” revealing plans to require foreigners to submit applications to the “cabinet,” along with security reports.
He expressed concerns about the current system being circumvented through undisclosed private agreements in the land registry, acknowledging a security gap that needs attention.
Oguz outlined upcoming regulations, including setting time limits for foreign buyers approved by the “cabinet” to apply for title deeds.
Notably, the 51/49 share capital arrangement for companies will be abolished for foreigners, restricting them from being builders and sellers. Investments related to tourism, education or health will face specific area limits and increased financial requirements, placing land purchases under the control of the “cabinet.”
Oguz also highlighted urban planning initiatives led by the so-called “prime minister,” Unal Ustel, with a focus on Famagusta.
