Residents Bank accounts.

[Mimi2]

Looks like all residency bank accounts now have to be TRNC accounts?
Following on FB Heartbeat,?

[gates]

How do they do that when the Pention is paid in uk bank and other investments

[techtrader]

How is it legal or fair in any law that they think they can tie up that amount of money for 6 months + , it's an absolute disgrace we should not just stand by and let this go imo.

[Reyntj]

Things might get a lot worse I'm reading the Russian telegram groups and there is many rumours there that like turkey they are going to stop giving residential permits for non homeowners and/or hike the financial levels .it's no surprise with the amount of people coming here and the massive waiting lists for residency . They hold all the cards . Of course it's legal it's their laws ...is it fair that's debatable but try looking at other places eg. south Cyprus ...many here would not come near to qualifying there.

Google so I'm sure it's true :

"What are the new rules for Turkish residence permit 2023?
1. New restrictions have been established regarding the territories where a residence permit can be obtained. From July 1, 2023, you cannot get a residence permit in 1,169 regions of Turkey, because they have the status of closed territories, because they are recognized as densely populated by foreigners.11 Oct 2023"

Using trnc bank accounts might be the least of people's concerns . No doubt its the above that's alarming the Russians ..even more will come here because of the above . Wasnt aware of this myself until I read the russian telegram groups ( I use translate ). I'd guess it's just speculation but it may have merits . Many many locals are complaining about the amount of Russians/Iranians in iskele and issues in schools .

[Asia111]

An opportunity to impose more taxes perhaps

[techtrader]

Given what happened to deposits in South Cyprus accounts and the state of the Turkish economy what security is there to just leave thousands of pounds in local bank accounts for months on end due to an immigration whim?

If they want to bring in new laws for future residents then fair enough but there should be some protection for the majority of expats that have been here many years following a certain level of rules that have driven the progression of the local economy here.

Why should they be kicked out and forgotten to free up space for the new influx of 'more wealthy' immigrants?

[Mowgli597]

Why should they be kicked out and forgotten to free up space for the new influx of 'more wealthy' immigrants?

For the same reason local people (either here or elsewhere) are kicked out and forgotten for an influx of ‘more wealthy’ immigrants (who like to call themselves ‘expats’) from, for example, the U.K. several years ago.

Just askın’!

[techtrader]

Why should they be kicked out and forgotten to free up space for the new influx of 'more wealthy' immigrants?

For the same reason local people (either here or elsewhere) are kicked out and forgotten for an influx of ‘more wealthy’ immigrants (who like to call themselves ‘expats’) from, for example, the U.K. several years ago.

Just askın’!

Are you on the right forum?
Not sure we are comparing eggs with eggs here anyway.

[Nc2016]

Well, I will see in January when I reapply for residency.
I will certainly not be transferring any more of my money here. I lost enough the last time thanks.

If my money’s not good enough then good luck with your soviet service socialist friends. It’s not somewhere I actually want to be!

[waddo]

Interesting times! I wonder what will happen - bearing in mind that people in Leased Properties are treated as "Renters" in that they are "High Income" people - to those in Government Leased property in Karmi??? It's a bit of a rats nest to sort out the whole mess so my guess is that anyone now renting will continue as they are but new applications for residency from new renters may face problems. As for the banking side of things I would not put lots of money into TRNC banks and be wary of Turkish Mainland banks as well - then again just how safe are any banks?? Will watch with interest but not in panic!!