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Tax Free Company Formation and Foundation in TRNC

Company formation:

In accordance with the Law and the rules and regulation of the Companies the Free Port Company is established as a Limited Liability company.

The company’s capital must be 50,000 euro. Capital amount due to be blocked at the bank account for at least one week prior to a company registration procedure starts. The capital amount is unblocked ones the formation of the company is completed.

Free Zone Incentives and Advantages:

  • 100% Income and Corporate Tax exemption
  • Free Profit transfer
  • VAT Exemption
  • Mailbox address (England)
  • Office in the Free Zone upon request

How the company works:

Companies operating in the TRNC Free Port zone carry out their activities in this zone through a business / office or mailbox.

Free Port companies operate entirely with customers outside the TRNC borders. In this case the exemption from taxes on the Income will be applied. In addition, there is no VAT due to these activities.

Free Port Zone companies are required to make payments related to social security of the personnel they will employ and other premiums within the scope of TRNC Income Tax and Social Security Laws.

 

Why North Cyprus?

  • NO VAT, NO INCOME TAX, 0% TAX.
  • The same time zone with Turkey
  • Secured Turkish Banks
  • Very low cost in money transfers (Money Order, EFT).
  • English speaking country
  • NO taxes on profit distributions.
  • You do not need to come to TRNC for Company Establishment transactions.

 

Documents required for a Company formation:

  1. Copy of your passport or ID card.
  2. Preferably, an e-government residence document or an official document: electricity, GSM etc. bill.
  3. Preferably a criminal record from e-government.

 

 

For more details, please, contact us by phone (WHATSAPP, Telegram, Viber):  +90 533 840 91 84 (English, Turkish, Russian)


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