Business in Northern Cyprus

The growth of the economy of Northern Cyprus is due to the development of the real estate and education sectors, as well as an increase in the flow of tourism. The international policy is aimed at attracting foreign investors. A number of measures are being taken to make cooperation between local and foreign businessmen profitable, and to create favorable conditions for business development in various sectors of the country.

Why register a business in Northern Cyprus?

One of the main reasons why many people strive to start their business in TRNC is the flexible tax policy. Foreign investors and businessmen are provided with many benefits and bonuses, including a reduction in customs duties when importing cars, office equipment, and other goods. Other advantages include:
  • Simple business registration procedure;
  • Prospects for economic development, and therefore for one’s own business;
  • Protection of property at the legislative level;
  • A range of measures for protecting private information and confidentiality in business dealings.
Both legal entities and individuals can register a business in TRNC.

What is required to register a business?

бизнес на северном кипре

The Registration Committee, located in Nicosia, handles the documentation process. To open a business, you need to apply through a “single window” with the following set of documents:

  • Copies of the passports of the company’s founders;
  • Certificates of no criminal record;
  • Memorandum and Articles of Association translated into Turkish;
  • Documents confirming the presence of a bank account containing the share capital;
  • Several original company name options must be proposed.

The registration fee for a company is approximately 2.5 thousand euros. Additionally, services of a notary public will cost around 1.1 thousand euros. The annual license renewal will cost around 5 thousand euros.

Capital Requirements

If less than 49% of the company’s shares are owned by a non-resident of the country, the capital requirement is $25,000. However, if the entire package of shares is owned by residents, the capital requirement increases to $50,000.

The amount is kept in a frozen account for 2-3 months after the business registration. After the period, the funds can be used.

If you are a non-resident and will hold a managerial position, the tax fee will be $10,000. On the other hand, if a resident of TRNC holds a managerial position, the tax fee is $5,000.

Our company provides legal and financial services and will easily assist our clients in opening a firm in Northern Cyprus!

For consultation, please contact us at info@everhome-invest.com.

 

право

Compare listings

Compare

Price in 2020:

49 900 £

Object type:

Studio

Total area:

42 м²

Description:

A grandiose residential complex located on the seaside, just 500 meters away from the popular Long Beach. The territory of the complex amazes with its scale and diversity, inside you can find everything: from shops and restaurants to SPA and private schools.

The total cost of the studio at the end of 2022 is 120,000 £.

The total investment growth is 240% over 2 years, which is equivalent to 70,100 £ in monetary terms.

Цена в 2020 году:

49 900 £

Тип квартиры:

Студия

Общая площадь:

42 м²

Описание:

Грандиозный жилой комплекс на берегу моря и всего в 500 метрах от популярного пляжа ЛонгБич.
Территория комплекса удивляет своими масштабами и разнообразием, внутри можно найти все: от магазинов и ресторанов, до СПА и частных школ.

Итого стоимость студии в конце 2023 года - 145 000 £:

Общий прирост инвестиций 290% за 3 года, что в денежном эквиваленте 95 100 £.

ankara escort çankaya escort çankaya escort escort bayan çankaya istanbul rus escort eryaman escort ankara escort kızılay escort istanbul escort ankara escort ankara escort escort ankara istanbul rus Escort atasehir Escort beylikduzu Escort Ankara Escort malatya Escort kuşadası Escort gaziantep Escort izmir Escort