The country’s government priority task is to attract foreign investment and actively develop the economy. The state fully protects a foreign businessman property rights: it guarantees the right to private property, without distinguishing between foreign and local companies.
The country is open for investments and offers transparent business conditions: minimum bureaucracy, loyal taxation, British law, a businessman and company activities confidentiality.
What is needed.
To open a business, an investor needs:
Designate the activity field and choose a name.
Provide certificates of no criminal record (for all founders) in English or Turkish. Passports copies.
Register the authorized capital in a local bank (the size depends on the investor’s share).
Transfer $ 10,000 to the Tax Committee’s account, which will cover debts and taxes in unforeseen situations case.
Provide the company legal address
The need for new business in Northern Cyprus is very high, so you will find your niche, the most popular are tourism, export, foreign exchange transactions. An investor may not start a new business, but buy a ready-made business – a café, shop, beauty salon.