A Northern Cyprus Free Port company pays no corporate or income tax on its activities directed at companies outside Northern Cyprus and inside the Free Port. It is close to Turkey; you are required to be in Northern Cyprus once for the signature and bank procedures.No corporate or income tax on activity outside Northern Cyprus and within the Free Port. You come to Northern Cyprus once for signing and the bank.
€9,920 for formation and the first year, all items included
How each item works is shown in the diagram beneath it.Each item is shown in the diagram.
No corporate or income tax applies to activities directed at companies outside Northern Cyprus and inside the Free Port; the company is not a VAT payer. Important note: normal tax rules apply to sales within Northern Cyprus.No tax or VAT on activity outside Northern Cyprus; sales inside Northern Cyprus are taxable.
Reachable within a day when required.
You are required to be in Northern Cyprus once for the signature and bank account; the application, approval and registration processes are carried out on your behalf.One visit is enough; the process is run on your behalf.
Funds can be transferred abroad freely.
Free Port applications, approval and registration are handled from our own office in Northern Cyprus. Your point of contact does not change after formation is complete.Application, approval and registration are handled from our Northern Cyprus office.
A general framework is set out below; an assessment specific to your situation is made in a consultation.
Do I automatically get a tax advantage by setting up a company? No. Any advantage depends on real activity, management, tax residency, the type of income and the rules of the country concerned.
Ask your questionsAs long as profit stays in the company and is used for company activities, no tax arises in Northern Cyprus. Whether and when tax arises in your country of residence depends on its rules, in particular when profit passes to you as personal income.No tax arises while profit stays in the company; it arises when it passes to you as personal income.
The invoice is issued by your company; payment is made to the company account.
No corporate or income tax, no VAT. No tax arises as long as profit stays in the company and is used for the activity.
Declared in line with the rules of your country of residence, in particular when profit is distributed to you as a dividend.
A company whose activities are actually concentrated in and managed from your country of residence may be treated as a corporate taxpayer there.
International payment providers do not work with Northern Cyprus companies. Card payment collection is possible through the local bank's virtual POS; payments are transferred to the company account in Northern Cyprus.International payment institutions do not work with these companies; card payments are collected through a local virtual POS.
Corporate account; Turkish lira and foreign currency. Payments from abroad reach it through the correspondent bank in Turkey.
Card payment collection; payment is transferred to the company account in Northern Cyprus.
Northern Cyprus is not on the country list.
Northern Cyprus is not on the country list.
It could be opened in the past; today it cannot be opened with a Northern Cyprus company.
Northern Cyprus is not among the supported countries.
Northern Cyprus is not on the seller registration country list.
Northern Cyprus is not on the seller country list.
The "Cyprus" in these lists refers to South Cyprus; a Northern Cyprus company does not take its place.
The formation and first-year items are stated separately; the accounting type is determined by your preference.Formation and first-year items are shown separately.
The capital belongs to your company; it is not paid to any party. It is blocked at the bank only until registration, after which it is released in the company account.The capital belongs to your company; it is held blocked until registration, then released.
The minimum capital if one of the shareholders is not a citizen of Northern Cyprus. The share of the foreign shareholder is blocked.
At the signing visit you open the company's capital account at the bank; the capital is sent at the stage when it is required.
Registration is approved; the foreign shareholder's share of the capital is blocked at the bank.
The bank is approached with the company's registration documents and the block is lifted; the amount is available in the company account.
Each step states who is responsible; selecting a step pauses the flow.The responsible party is stated at each step.
2-3 alternative names are determined for the company; name suitability is checked.
With youtypically 3 business days
Timelines are typical ranges. Decisions by authorities and banks rest with the institutions concerned; neither outcome nor timing is guaranteed.
Tick the documents that are ready for Northern Cyprus; we carry out the process.
Most documents can be obtained quickly through e-Devlet; the signature is given in Northern Cyprus.
The address requirement can also be met through an agreement with an accounting office; in this case a representative who is a Northern Cyprus citizen, determined by the Free Port, is appointed.
Select your profile; the assessment is shown below.
If your goods are shipped abroad from the Free Port Northern Cyprus is a suitable option.
This is the Free Port's basic function: profit from activity in the Free Port is exempt from tax and customs duty.
No corporate or income tax applies to activities directed at companies outside Northern Cyprus and inside the Free Port; the company is not a VAT payer. Normal tax rules apply to sales to local companies within Northern Cyprus. The annual activity fee is a fixed charge, not a tax.
Yes, once. The documents are signed in Northern Cyprus and the company's capital account is opened at the bank during the same visit. The application, approval and registration processes are then carried out on your behalf.
It is not mandatory. If an address agreement is made with an accounting office, a representative who is a Northern Cyprus citizen, determined by the Free Port, is appointed and no additional staff are required. If you rent your own office, you must employ at least one Northern Cyprus citizen.
The capital belongs to your company. An amount equal to the share of the foreign shareholders is blocked at a Northern Cyprus bank at the registration stage; the block is lifted with the company's registration documents and the amount is available in the company account.
No. Northern Cyprus is not on the country list of Stripe or PayPal. Card payment collection is made through the local bank's virtual POS; payments are transferred to the company account in Northern Cyprus.
Forming a company does not by itself provide a right of residence. If you will reside in Northern Cyprus and manage the company, you must obtain a permit to set up a business from the Ministry of Labour.
No. A Free Port company is formed with at least two shareholders; there is no restriction on the nationality of shareholders or directors.
Dividends are generally declared under the rules of your country of residence, and any exemption depends on those rules. We do not provide personal tax opinions; your situation is assessed in the meeting.
Because the international postal connection of Northern Cyprus is routed through Turkey, addresses carry the wording "Mersin 10, Turkey". Some foreign platforms may treat this address as Turkey; the platforms to be used are assessed together before formation.
The exemption is based on the Free Port and Zone Law and is lawful. Its condition is genuine activity directed outside Northern Cyprus and records kept regularly; declaring the income in your country of residence remains your own obligation.
Yes, it is mandatory. Even if no tax arises, a Free Port company submits its balance sheet and annual reports every year.
Through voluntary liquidation. First, all balance sheets and annual reports must have been submitted to the Tax Office and the Registrar; the liquidation decision is announced in the Official Gazette.
