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Registering a company in Northern Cyprus in 2020
The main advantages of this jurisdiction are:
- Stable economic situation;
- One of the popular jurisdictions;
- Ability to minimize taxes;
- Simple process of starting a business.
Support in company registration - from 4950 €
Approximate terms of company registration - from 14 daysDetailed information
Northern Cyprus (Turkish Republic of Northern Cyprus) is a de facto country, recognized only by Turkey. The international community consider it as a part of the Republic of Cyprus.
If you are interested in registering a company in Northern Cyprus, you should know that:
- The country occupies a third of the island of Cyprus (northeastern territories);
- The state was established in 1974;
- The population is 300 000 people;
- The capital is Nicosia (divided by the border between the Greek and Turkish parts of the island);
- Official Currency: Turkish lira (TRY);
- Free flow currencies: dollars and euros.
In order to set up a Northern Cyprus company, you can ask for personal advice on business registration process in Northern Cyprus, please contact IQD Consulting lawyers. Also, we can provide you with legal support services on opening a bank account in Northern Cyprus.
If you want to register a company in Northern Cyprus, then you need to fulfill the following conditions:
- At least 2 founders (both can be foreigners);
- A certificate of criminal record;
- Passports of the founders;
- Unique name of the company;
- Legal address of the company;
- An opened corporate account in Northern Cyprus;
- The share capital in the amount of 20 000 USD (can be used after registration);
- Memorandum and Articles of Association (in Turkish).
Those, who are planning to open a company in Northern Cyprus, should note that if they want to hire employees, then there should be a majority of residents (when hiring 1 foreigner you will need to hire 3 local residents).
To find out more, we recommend that you request for individual advice on company registration procedure in Northern Cyprus and account opening requirements from IQD Consulting experts.
You have an opportunity to set up a company in Northern Cyprus remotely.
In order to learn more about tax regime and business advantages of the country, please ask for qualified advisor on starting a business in Northern Cyprus.
You can request for an appointment with IQD Consulting lawyers using the contacts listed on our site.