North Cyprus Tourist Board - residency - bank balance requirements?
North Cyprus
North Cyprus > North Cyprus Forum > residency - bank balance requirements?

residency - bank balance requirements?

North Cyprus Forums Homepage

Join Cyprus44 Board | Already a member? Login

Popular Posts - List of popular topics discussed on our board.

You must be a member and logged in, to post replies and new topics.

» Read about Residence Permits

» Read about Work Permits

» See All North Cyprus Banks Related Threads posted so far

» See North Cyprus Interest Rates



madmazz


Joined: 14/01/2009
Posts: 82

Message Posted:
22/05/2009 11:06

Join or Login to Reply
Message 1 of 27 in Discussion

Hi my son is applying for residency with his partner and they have been told at the police station that they need a local bank statement. This is no problem, but presumably there is a minimum requirement on the balance, so does anyone know what this is?



Thanks

mazz



kofaliking


Joined: 20/06/2009
Posts: 126

Message Posted:
20/06/2009 20:10

Join or Login to Reply
Message 2 of 27 in Discussion

I believe 6000 is the absoloute minimum, but considering there are two people, it is a best bet to have between 6000 and 10000... Opening up a bank account here is a very good way of gaining more money. I am with Turk Bankasi, and i have a current and a savings account. The savings account currently has %8 interest monthly.. and yes i did say monthly.

So if you for example deposit 10000 into a savings account you will recieve 2000 a month interest! BUT, if you touch that money during the month, you will loose the interest. So what i have tended to do is.. Once the interest has gone into my bank account, get that automatically transferred to your current account, and depending on what you spend, you will find the interest alone is sufficient enough to buy your necessities.



Hope this helps you



Michael



waddo


Joined: 29/11/2008
Posts: 1966

Message Posted:
20/06/2009 20:20

Join or Login to Reply
Message 3 of 27 in Discussion

Last I heard - two weeks ago - the amount required was between 10K and 15K TL (not ) in a local bank. Never been asked for this before as wife and I have MoD pensions and after asking around we now think it may be that the government is looking at "Partners" more than they look at "Married" people. Don't know why and have nothing against partners at all as that is the way of the world - in fairness we only got married to beat the damn tax man - but it seems logical t the locals.



gooligan


Joined: 30/01/2007
Posts: 1591

Message Posted:
20/06/2009 20:20

Join or Login to Reply
Message 4 of 27 in Discussion

2000 interest a month on 10000 investment???

I dont think so.

Michael,Turk Bankasi will be paying 8% interest per year but divided by 12 to be payable monthly(.6666% per month)



maningi pusa


Joined: 07/09/2008
Posts: 120

Message Posted:
20/06/2009 20:22

Join or Login to Reply
Message 5 of 27 in Discussion

What Have you been smoking kofaliking! I have more than 10000 in a Credit West savings acccount at 12% and at the moment our monthly interest is less than 500 tl! Please tell me your secret!



spangles


Joined: 22/10/2008
Posts: 411

Message Posted:
20/06/2009 21:37

Join or Login to Reply
Message 6 of 27 in Discussion

Kofaliking I hope you aren't planning your budget around your interest or you will be doing a "Gordon" i.e. seriously in the brown stuff.



Waddo - you are probably right in saying that they look at Partners a bit more closely. They want to know how long you have been together (that you didn't just meet and want to stay), that you both have individual means of support and certainly for permanent residency, that you both have your name on a kocan. Incidentally, for permanent residency, we were told the emphasis was on certified monthly income rather than a bank balance -although they never actually put a figure on it. As our pensions are paid to a UK bank they wanted these statements also to prove monthly deposits.



eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
20/06/2009 22:00

Join or Login to Reply
Message 7 of 27 in Discussion

Kofaliking, Me thinks that you are wrong in what you say.



susief


Joined: 06/11/2008
Posts: 529

Message Posted:
20/06/2009 22:10

Join or Login to Reply
Message 8 of 27 in Discussion

There's no minimum amount provided one of you has a work permit (I believe) Can certainly say that was the case when I did my residency - I WISH I had 600 let alone 6000 in the bank!!



ronie


Joined: 11/02/2009
Posts: 67

Message Posted:
21/06/2009 09:46

Join or Login to Reply
Message 9 of 27 in Discussion

I think (well I know) you are getting a little confused about your deal.The rate is 8% per year tied in for a month at a time.



The rate is not that good,our bank is still giving us 13%



negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
21/06/2009 09:50

Join or Login to Reply
Message 10 of 27 in Discussion

mess 2 - i think you need to do your maths old boy....



to get 2,000 per month interest on 10,000 you would meed a miricale not 8%.....



how long have you worked for Turk Bank, by the way ?



metin


Joined: 08/09/2008
Posts: 1588

Message Posted:
21/06/2009 11:49

Join or Login to Reply
Message 11 of 27 in Discussion

Its right, that if one of you has a valid work permit, then you don't need much money in the bank as you have an income.

Also, if you have the deeds to your house, that is also taken into consideration.

But, if you are renting, don't have a Work Permit and have something like 3000, they will tell you you can't get residency. It happened to a young lady next to me about 3 weeks ago !!!!



kofaliking


Joined: 20/06/2009
Posts: 126

Message Posted:
21/06/2009 13:18

Join or Login to Reply
Message 12 of 27 in Discussion

I probably should correct myself, obviously i touched a few nerves in what i said! FYI im not smoking anything, dont bring me down to your level, spangles!

8% a year, divided by 12 monthly... Now you can all rest in the knowledge you made me change my comment!

Hope you can all sleep easier tonight!



Michael



minertor



Joined: 14/02/2009
Posts: 1238

Message Posted:
22/06/2009 01:29

Join or Login to Reply
Message 13 of 27 in Discussion

I don't think that there's a minimum requirement for bank balance. Nor do you need a local bank account. You need to show that you have a regular income that allows you to live independently. Failing this, one or both of you need a work permit and a job with a regular income.

UK will get to this, eventually



porter


Joined: 16/10/2007
Posts: 74

Message Posted:
22/06/2009 09:53

Join or Login to Reply
Message 14 of 27 in Discussion

mes 9 whos giving 13%



joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
22/06/2009 10:14

Join or Login to Reply
Message 15 of 27 in Discussion

Mess 14 - Continental Bank



AnnVVV



Joined: 07/09/2010
Posts: 52

Message Posted:
12/09/2010 23:12

Join or Login to Reply
Message 16 of 27 in Discussion

mes 13 - if we just open account and will put cash around 10-15 evro its not inaf for resedence permit ?



YFred


Joined: 06/05/2009
Posts: 1471

Message Posted:
12/09/2010 23:26

Join or Login to Reply
Message 17 of 27 in Discussion

Requirement of a Bank Balance and a Bank Statement are two different things. The Statement is used to confirm the address, I have no doubt that they will not look at the balance. We get asked this regularly at UK for even a Library card never mind residency.



AnnVVV



Joined: 07/09/2010
Posts: 52

Message Posted:
12/09/2010 23:33

Join or Login to Reply
Message 18 of 27 in Discussion

Im sorry im blonde i don get it. If we will open tommorow account and we just put inaf cash for one year,police can dont acsept this? and we dont take residency? ((( here is not a evrope i fought they dont care from where and that u have,i have wrong?



spanna


Joined: 12/01/2009
Posts: 544

Message Posted:
12/09/2010 23:35

Join or Login to Reply
Message 19 of 27 in Discussion

Off the subject slightly...



If you have a work permit - can you also apply for residency for greater security should the job fall through?

Any advice welcomed!!



AnnVVV



Joined: 07/09/2010
Posts: 52

Message Posted:
12/09/2010 23:42

Join or Login to Reply
Message 20 of 27 in Discussion

One excludes another, for safety-ticket in Turkish ;-)



spanna


Joined: 12/01/2009
Posts: 544

Message Posted:
12/09/2010 23:44

Join or Login to Reply
Message 21 of 27 in Discussion

Hmmmmm... I thought as much... Hey ho... will have to see how it all plays out!



AnnVVV



Joined: 07/09/2010
Posts: 52

Message Posted:
12/09/2010 23:55

Join or Login to Reply
Message 22 of 27 in Discussion

advice from person without resedency permit yet )))))))))))



straitasadie


Joined: 14/09/2009
Posts: 450

Message Posted:
13/09/2010 06:20

Join or Login to Reply
Message 23 of 27 in Discussion

i'm on my 5th tempory resedency and my bank balance as varied between 1000/20000 tl. On one

occasion only 1200 tl and no problem. They just need to see a used bank account.



loulou



Joined: 14/05/2008
Posts: 785

Message Posted:
13/09/2010 08:26

Join or Login to Reply
Message 24 of 27 in Discussion

went to the police station in girne and was told it was 3000

so just copied the bank book and took in the paper work no probs



mrsgee


Joined: 23/06/2009
Posts: 396

Message Posted:
13/09/2010 08:31

Join or Login to Reply
Message 25 of 27 in Discussion

On my last temp res application, took my bank statement, policeman studied it and then asked if it was enough for me to live on. I said yes, - ok, he said. I don't think it is to check the address, the Muhtar's letter confirms that.



I have no idea what the minimum amount would be - perhaps the minimum annual wage, so there is at least enough to support you, in theory, for the year of residency that you have applied for.....that might make some sense. I think they want to check that you do not have to work to support yourself.



rigsby


Joined: 21/09/2007
Posts: 912

Message Posted:
13/09/2010 10:26

Join or Login to Reply
Message 26 of 27 in Discussion

Have the rules changed again.After the first two years i cancelled my account in TRNC and only used u/k bank statements plus the other paperwork.



japeal



Joined: 12/09/2008
Posts: 1052

Message Posted:
13/09/2010 10:47

Join or Login to Reply
Message 27 of 27 in Discussion

When we renewed ours in april, we had 300 in local bank account, but had copies of uk bank statement showing monthly pension going in and funds coming out to trnc regularly. Got 2 years residency as well even though we are only 58/59. We ere polite asked if we could have 2 years residency the lady talked to her boss, came back and said you will be 60 next time you come no problem. What a bonus!



North Cyprus Forums Homepage

Join Cyprus44 Forums | Already a member? Login

You must be a member and logged in, to post replies and new topics.