The key changes are as follows:

Five-Year Residency Without Income Verification:

Foreigners can now obtain a residency permit for five years without needing to prove their income, provided they have a title deed for their property. It is crucial to complete the title transfer process before applying for the residency permit.

Residency for Property Buyers:

Those who have purchased property and registered their sales contract with the local land registry and tax office can also apply for a five-year residency permit. However, they must provide proof of income at least equal to one minimum wage during the permit's validity.

Residency with Bank Deposit:

If a buyer has registered their property but lacks confirmed income, they can still secure a five-year residency by depositing an amount in a local bank that equals the minimum wage multiplied by the permit duration.

Short-Term Residency for Renters:

Renters can apply for a one-year residency permit by proving a monthly income of at least three minimum wages or by depositing a sum equivalent to this amount in a local bank.

Long-Term Residency for Renters:

A long-term residency permit for up to five years can be obtained if the rental agreement is registered and covers the requested period. Proof of income or a bank deposit is required.

Special Provisions for Seniors:

Individuals aged 60 and over without guaranteed income can receive a residency permit for up to five years, contingent on providing proof of a bank deposit calculated based on the minimum wage.

These updates represent significant relaxations in the residency permit process for foreigners in Northern Cyprus, particularly the five-year residency without income verification for property owners, which is unprecedented in Europe.