If your answer is yes, you are in the right place. As ORTAC AUDIT COMPANY, we complete all the setup processes for your company as quickly as possible.
The Turkish Republic of Northern Cyprus (TRNC), with its developing economic structure, offers opportunities for new investments. Today, Cyprus provides numerous advantages for company formation with its advanced banking system and favorable tax regulations. Sales made from Cyprus to Turkey are classified as exports. Sales made through the Free Zone or an International Business Company are subject to 0% Value Added Tax (VAT). At the end of the fiscal year, after paying 0% or 1% Corporate Tax on profits, no other taxes are applicable.
Types of Companies You Can Establish in Northern Cyprus:
- Local Company (L.C.)
- Foreign Company (F.C.)
- Free Port and Zone Companies
Free Port Companies operate under a special status in the area located at Gazimağusa Port under TRNC laws, while International Business Companies can only operate abroad within TRNC borders.
Compared to other offshore centers, Northern Cyprus stands out with its low setup costs and the absence of minimum balance requirements for bank accounts. You can open accounts at Turkish banks in Cyprus and easily conduct online transactions through these banks.
E-commerce, software, publishing, media, and financial businesses benefit from tax advantages by operating in Cyprus since they are not required to reside in the same country where services are provided.
Start immediately with our company formation guide and proceed with the most suitable steps for you.
