A character limit per account is 20 active and 5 in process of deletion which means you can only have 25 characters in total (20 active + 5 characters sent to deletion). Please note you can also have 2 Tournament characters per account one of each server type regular and restricted store. If one's in the process of being deleted you cannot create another if you have a maximum of 2 characters already. When you manually delete any character on your account on Tibia's website by logging onto your account it will take a turnaround time of 60 days to be fully deleted. You can undelete the character within the first 2 months (60 days) if you change your mind. After this time the character is deleted for good and cannot be restored anymore. You can create another character immediately after you sent a character to get deleted. You just cannot create more than 25 characters in total and only 20 active characters on an account. To repeat, you can have 2 Tournament characters on top of this number as Tournament characters are different than regular characters on your account.
Related to: https://www.tibiaqa.com/14661/delete-character-create-while-delete-retrieve-former-deleted-than-week#a14662
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