5 donums for foreigners law in place?

Howmuchlonger


Joined: 08/11/2008
Posts: 61

Message Posted:
26/09/2009 22:01

This law was passed but not rubber stamped (due to objections) last December. I am told that it is in place and it's now possible for foreigners to buy a plot up to 5 donums as long as it contains only one dwelling. Can anyone confirm this?

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
26/09/2009 22:21

Perish the thought of buying 5 donums of the stuff - my half a donum is enough...

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
26/09/2009 22:47

This is Law no. 52/2008 publşshed in the official gazette on 8th November 2008. It is called "Taşınmaz Mal Edinme ve Uzun Vadeli Kiralama (Yabancılar) Yasası which I can translate as "Ownership of Immovable Property and Leasehold (Aliens) Law.





According to this law foreigners can buy or lease only one donum or up to 5 donums if there is only one dwelling on it. The leasehold must be between 10 and 99 years. Permission to Purchase will be required for Freehold but not for Leasehold. However, the Council of Ministers can make bylaws and limit areas that can be leased by aliens. The law will come into force when these bylaws are published.



I have no idea if these bylaws are published and the prohibited areas marked. Tapu is the place to ask.

ismet

http://www.elkocyprus.com

yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
26/09/2009 22:52

msg 2;

"Perish the thought of buying 5 donums of the stuff - my half a donum is enough..."



Alot of lives were sucrificed for that "stuff".

paddywack


Joined: 04/05/2009
Posts: 959

Message Posted:
26/09/2009 23:13

Buy the"stuff"the are not making any more.