Cyprus, Nicosia

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

Updated: 14 hours ago

Illustrative calculation of the required amount:

For high income (if there is a long-term lease agreement): the statutory wage (minimum wage) for three years.

Example: 18 103 TL (minimum monthly wage) x 12 (months) x 3 (years) = 252 000 TL.

Deposits can be made not only in Turkish lira but also in US dollars, euros, and British pounds sterling at the current exchange rate.

In the case of property ownership: Statutory salary (minimum wage) for one year.

Example: 7000 TL (minimum monthly wage) x 12 (months) x 1 (year) = 217 236 TL.

Deposits can be made not only in Turkish lira but also in US dollars, euros, and British pounds sterling at the current exchange rate.

Please keep in mind that the economy of Northern Cyprus is developing rapidly, and the government minimum wage rates and calculation formula may change. Verify the information at the time of the transaction.

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