Registration of a Company with Foreign Capital in Northern Cyprus

We are offering you the opportunity to register a company in Northern Cyprus, with our full support.

Why Northern Cyprus? The beneficial geographic location of the Turkish Republic of Northern Cyprus (TRNC) at the crossroads of important trade junctions between three continents, Europe, Asia, and Africa, offers tremendous opportunities to foreign investors. The economy of the republic has been growing at a quick pace recently. The TRNC government creates favorable conditions for investors from abroad by reforming the taxation system and offering different benefits. Registration of a company with foreign capital in Northern Cyprus is a profitable solution for those who want to expand their business horizons.

Advantages of Establishing a Company in Northern Cyprus

The Cypriot authorities provide a convenient system of discounts and benefits for businesspeople from other countries.

Advantages of company registration in Northern Cyprus:

• Stable currency: The local currency is subject to minimal fluctuations thanks to the active support provided by Turkey.
• Straightforward company registration process: If you delegate the procedure to professionals, you will be able to establish a Cypriot company with minimum effort.
• Tax benefits: There is low corporate taxation, and in some cases, the corporate tax rate may amount to 0%.
• A possibility to open currency accounts: The owner of a personal or corporate account in a TRNC bank can access their funds from anywhere in the world.

Companies in Northern Cyprus can make cash and cashless settlements without strict control on the part of the local fiscal authorities. A simplified system of financial monitoring and tax accounting minimizes the risks of accounts blocking and reduces the document flow.

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Check the list of required documents, and get the details of the process, terms, and costs.

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LTD Registration in Northern Cyprus 

We offer assistance in setting up an LTD (LLC, Limited Liability Company) with foreign capital.

Advantages of the solution:

• A possibility to work in the TRNC internal market without limitations
• Easy deposit and withdrawal of funds to/from LTD accounts
• Receiving services in the subsidiaries of Turkish banks (SWIFT, IBAN)
• Obtaining work visas for all company employees
• A possibility to qualify for permanent residence after 6 years of residence in the TRNC
• A possibility to acquire citizenship after 10 years of work

Here are the documents you will need to submit:

• An apostilled certificate of no criminal record
• IDs (passports) of all LTD founders
• Proof of the place of residence (in this case, you must have a place of residence in the TRNC)
• A bank statement that confirms blocking funds in a Cypriot bank, which equals the amount of the company’s authorized capital

You should also get a letter of guarantee from the bank in the name of the LTD’s director for the amount of 10 minimum monthly wages. The letter must be valid for two years.

Peculiarities To Be Considered

We recommend taking into account some peculiarities of the Articles of Association before you register a company with foreign capital in Northern Cyprus. When you are drafting the main corporate document, make sure to include all kinds of activities that the organization is planning to engage in. This is very important as you will need a court decision in the future if you need to amend this clause. You will be able to add or remove an activity, provided you receive a positive decision from the court. In addition, keep in mind the kinds of activities that are prohibited for companies with foreign capital (construction, medicine, etc.).

In some cases, you will need the presence of a TRNC citizen who possesses a 51% share of your LTD to operate in this or that sphere. The ratio of the founders’ shares is 90% at the most and 10% at the very least.

The general agreement must contain information about the maximum number of the company’s directors and the minimum percentage of votes required to replace one of them.

Stages of company registration in Northern Cyprus:

1. Checking whether the name you have selected is unique.
2. Elaboration of corporate documents (Articles of Association and General Agreement).
3. Receiving letters from banks.
4. Preparation of the remaining documents and submission of a full package of documents to the TRNC registration authorities.
5. Payment of duties and levies.
6. Receiving the company’s constituent documents.
7. LTD registration with tax authorities.
8. Opening a bank account with a local credit and financial institution. 
9. Obtaining a permit (the license is paid for separately) for the main type of LTD’s activity.
10. Recording the company data in the municipal register.
11. Recording the company data in the register of the Ministry of Labor and the Pension Fund.

The cost of company registration in Northern Cyprus is GBP 4,000.

We also provide the following services:

• Outsourcing your accounting. Submission of monthly reports to the tax authority.
• Tax consultant’s services. 
• Consulting on the questions of obtaining licenses and business management.
• Obtaining business visas.
• Printing of invoices and credit receipt vouchers. 
• Installation of cash registers. 
• Receiving a permit to display a company sign. 

Company Maintenance Expenses

Cost of Services

How to Register a Company with Foreign Capital in Northern Cyprus

If you are interested in an opportunity to live and work in one of the picturesque European countries with favorable conditions for foreign investors, please contact our experts right now!