May 2024

Significant Changes Made to Property Acquisition and Long-Term Rental Conditions for Foreigners in Northern Cyprus

In Northern Cyprus, the conditions for foreigners to acquire property and for long-term rentals have been revised. The "Property Acquisition and Long-Term Rental (Foreigners) (Amendment) Bill" was passed by a majority vote in the TRNC Parliament, introducing new conditions and restrictions on certain purchases. With these changes, foreign nationals can now own an apartment or house in the Turkish...

What Is A Taahhütname (Letter Of Undertaking)?

A "taahhütname," best translated as a letter of undertaking, is a legal document used to demonstrate your intent to perform a specific action to Turkish officials. Derived from the Arabic word "taahhüt" (meaning declaration, undertaking, or commitment) and "name" (meaning letter), this document outlines your commitment to fulfill certain obligations or remedy any wrongdoings. The contents vary depending...

Spain Decides to End Golden Visa Program

Spain's Prime Minister Pedro Sanchez announced that the "Golden Visa" program, which has been in place in the country since 2013 and grants temporary or permanent residency to foreigners who purchase real estate or make investments, will be terminated. Sanchez, speaking at an event held in Seville, stated that the decision to end the Golden Visa program would be made at the regular Cabinet meeting on...

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