TRNC discusses granting citizenship to foreigners in exchange for property purchases

Northern Cyprus is considering the introduction of a model under which foreigners could obtain citizenship by purchasing real estate above a certain value. This was reported by Kafer Gürcafer, Chairman of the Union of Turkish Cypriot Building Contractors, who noted that relevant consultations with the government are already underway.

According to him, the initiative is aimed at addressing the problem of unsold housing stock and stimulating the economy. Following a surge in foreign demand during the pandemic, around 10,000 properties were sold in the TRNC. However, subsequent construction resulted in an additional 20,000–25,000 housing units, some of which remain unsold — partly due to foreign policy factors related to the Greek Cypriot side of the island.

Gürcafer emphasized that this is not about mass distribution of passports, but a strictly regulated scheme: citizenship would only be granted for property purchases above a defined threshold and after all required checks are completed. He added that discussions on this idea are also planned at the level of talks with the Turkish authorities.

It is noted that property prices in the TRNC vary widely — housing can be purchased starting from around 120,000 US dollars and upwards into higher price segments. The purchased property is expected to be usable not only for residence but also for rental purposes, providing additional income for owners.

The Contractors’ Union stresses that the real estate market remains a key component of Northern Cyprus’s tourism and investment appeal. The proposed model, according to its proponents, could help reduce the volume of unsold housing while simultaneously attracting new investment into the republic’s economy.