North Cyprus

North Cyprus

INFO –NORTH CYPRUS (FAMAGUSTA FREE TRADE ZONE)

Free Trade Zone Company are intended to minimize operational costs and tax liabilities to encourage more viable economic activity.

 

MAIN CHARACTERISTICS AND ADVANTAGES

  • North Cyprus Free Trade Zone company is not subject to any Value Added Tax, there is no annual renewal fee
  • Income generated from business activities at free-zone are exempted from income and corporate tax and this exemption covers payable dividends as well. If the company is importing products from abroad and business activities will be carried out in TRNC, then certain tax amounts apply varying from product to product.
  • Accounting is required
  • Employment of foreign nationals is allowed

 

STATUTORY REQUIREMENTS:

  • Minimum 2 shareholders are required
  • Shareholders can serve as Director and Secretary
  • Minimum paid up capital should ne 50.000EUR

 

IN ORDER TO START WITH THE COMPANY OPENING PROCEDURE PLEASE PROVIDE US WITH:

  • Name of the company (2-3 suggestions)
  • Copy of the passports with Apostille
  • Police clearance
  • Utility bills
  • POA for the agent
  • Payment to EURO COMMERCE LLC account