What amount should be in the bank account to obtain a residence permit?

To legally reside in Northern Cyprus, you must obtain a residence permit, which will allow you to stay in the country longer than on a tourist visa. We discussed how to obtain a residence permit on your own in this article.

The most popular option for legalization is to obtain a residence permit based on a high income. When applying for this type of residence permit, you must have a certain amount in your account.

• Required amount when owning property
• Required amount when renting property
• Amount required for a family
• In which currency the statements are accepted
• By what date the required amount must be available
• Other questions about residence permits in Northern Cyprus

Required amount when owning property

Until recently, if you owned real estate, you had to have a legally established minimum wage amount in your account for one year. Example: 43,469 TL (minimum wage) x 12 (months) x 1 (year) = 521,628 TL.

However, in May 2025, a new law was passed, according to which if the applicant has a certificate of property ownership registered in his/her name, a residence permit will be issued for 5 years without any income requirements.

Required amount when renting property

If you have a long-term lease agreement, the legally established wage amount is required for a period of three years. Example: 43,469 TL (minimum wage) x 12 (months) x 3 (years) = 1,564,884 TL.

Amount required for a family

The amounts listed above are for families of up to 4 people, including the sponsor (property owner). For each additional family member, you will need to prove an additional 25% of the base amount.

In which currency the statements are accepted

You can deposit not only in Turkish lira but also in US dollars, euros, or British pounds, at the exchange rate on the date of deposit.

By what date the required amount must be available

This is an important nuance! For the first six months of the residence permit, you can show the money in a foreign bank, but it must be in your account in the required amount before submitting the application in the personal account, that is, before receiving 20% and setting the rendezvous date at the police. Money placed in the account just before the rendezvous indicates a loan, meaning you actually have no money at the time of application. Even if such an application is approved, there will be a fine of 835 lira per day until the money appears in the account.

Frequently asked questions about residence permits in Northern Cyprus

How to register at the Ministry of Interior?

First, go to the Ministry of Internal Affairs website. Then follow our instructions.

Where is the rendezvous appointed?

The interview is scheduled at the nearest police station to your place of residence. Addresses and contact details are available here.

What medical tests are required for a residence permit?

The list of medical tests required for a residence permit is published in a separate article.

The minimum wage rates listed above may change. We update this information here. We also recommend subscribing to our news Telegram channel to stay up to date with all changes in Northern Cyprus' legislation.