Registration of a company in Northern Cyprus

Name of service Bronze Silver Gold Platinum Brilliant
Checking and Reserving a Company Name in the public register of Northern Cyprus Verifying the availability and reserving of your preferred company name in the registry
Registration of a company in the form of LTD, including state duty Preparation and submission of all required documents and fees to the relevant government authorities for company registration, ensuring a streamlined process for our clients
Assistance with a TIN number registration Collecting, preparing and filing the necessary documents for TIN number
Certificate of incorporation Provision of international standard certificate of incorporation for your company
Company seal Production of the company seal
Assistance in opening an account in: Garanti Bank, İŞ Bank, Asbank Collecting, processing and filing the necessary documents for opening a corporate account with a local bank
Local secretary services for one (1) year Provision of a local secretary for your company. This means we provide you with a local contact person who will ensure communication between you and the authorities, banks or other parties in Cyprus. The contact person can help you with translations, receiving and forwarding official documents, representing your company and general administrative support. This gives you confidence and convenience in communicating and interacting with government agencies and institutions
Local director for one (1) year A local director is required in the structure of companies with certain types of activities
Obtaining a license to operate in the FEZ, including state fees Obtaining a license to carry out entrepreneurial activities in the FEZ, payment of the state fee
Free consultation We offer a free consultation where you can discuss your needs and questions regarding company registration and management. Our experts will be happy to help you understand the process and provide guidance based on your situation. We are happy to answer your questions and help you make an informed decision about the services you need
Total cost
6500 USD 8500 USD 13500 USD 15000 USD 19800 USD
Provision of a legal address for 1 (one) year
2200 USD 2200 USD 2200 USD 2200 USD 2200 USD
Remote company registration with transfer of authority
300 USD 300 USD 300 USD 300 USD 300 USD
Accounting services
290 USD 290 USD 290 USD 290 USD 290 USD

Deal of the month

If you will register a company until 31 January,
opening a bank account is for FREE

6 easy steps to get started
  • 1

    Select your
    preferred jurisdiction

  • 2

    Choose a bank
    that meets your
    company's needs

  • 3

    Pay for our services
    using a convenient
    payment method

  • 4

    Receive all necessary
    corporate documents

  • 5

    Receive details
    for your newly opened
    bank account

  • 6

    We'll deliver the original
    documents directly
    to you

The Turkish Republic of Northern Cyprus (TRNC, Northern Cyprus) proclaimed its independence in 1983 but is not recognized by most states around the globe. Still, the jurisdiction takes steps for its development, including favorable conditions for doing business and attracting foreign capital to the country. It has developed tourism and financial sectors. The state offers numerous opportunities for carrying out business worldwide effectively, including from the tax perspective. So, company incorporation in Nicosia or any other city in Northern Cyprus may bring these benefits to the investor's table.

Why Register a Company in Northern Cyprus

If you consider a commercial option of buying or forming a company in Northern Cyprus, either of those may open the next benefits for your international business:

  • strategic geographical location;
  • general ease of company incorporation;
  • high level of confidentiality;
  • availability of free trade zones (with the exemptions of profit and income taxes);
  • offshore companies are possible (1% profit tax on the worldwide taxable income should be paid only, VAT exempted);
  • free movement of capital;
  • no currency control limitations.

Legal and Organizational Forms

It is possible to form a company in Northern Cyprus or formalize an official presence in this state by utilizing one of these options:

  • Private limited company – a TOP choice for most businessmen worldwide because of the narrowed monetary and legal obligations in relation to all hypothetical losses of a future enterprise. Shareholders will not cover such in excess of the funds invested. Two promoters are required at least in this case, perfectly, if at least one resident is involved. When non-residents are among shareholders, it is necessary to invest USD 100,000+.
  • Branch – foreign companies may opt for a simplified option of doing the same business as abroad and arrange the interaction with local customers/contractors in a far easier way. Passing the simplified registration procedure is required in this case. No separate legal personality is granted – 100% liability over the results of the branch operation reserves its parent company.

Steps to Establish a Company in Northern Cyprus

If you wish to create a company in Northern Cyprus, these must-have steps are obligatory to pass:

  1. Choosing and checking the uniqueness of a commercial name.
  2. Collecting the details about the entity's promoters, managers, final beneficiaries, and mother company (if any). A natural person should provide, among others, proofs of identity and address, body corporate –statutory documents and confirmations of good standing.
  3. Arranging office premises as a legal address for a future company.
  4. Drafting entity’s corporate documents, including the Memorandum and Articles of Association and resolutions of founders.
  5. Paying all required incorporation fees. Lodging the complete set of documents to the Company Registration Office. Including the information about a new entity in the Commercial Register.
  6. Formalizing a new company for the purposes of paying taxes and must-have social payments.
  7. Opening corporate bank accounts.
  8. Getting separate licenses that may be needed for regulated activities.

Legal and Regulatory Aspects

The local legal system is made with the UK format in mind. Foreign businessmen get the same treatment as the locals when they are doing business in Northern Cyprus. In certain strategic industries, there can be a special rule of involvement of a local partner with a 51%+ share. The process of establishing a new entity in Northern Cyprus is generally straightforward. Some regulated activities, like construction or activities that may have an environmental impact, require getting a license from the local government.

Taxation in Northern Cyprus

Buying or starting a company in Northern Cyprus should be assessed along with the next points of taxation applicable in the jurisdiction:

  • Profit tax (for businesses) – 10% (an extra 15% rate is applied for all other income after taxation of corporate profits)
  • Income tax (for individuals) – a progressive scale is applied with the maximal rate of 37%
  • VAT – differs taking into account the type of transaction (from 0% to 20%)
  • Withholding tax – (1) dividends – 15/20% (2) interests – 10% (3) royalties – 10%
  • Capital gains tax – depends on the type of transaction.

There are also specific local taxes, like a transfer fee tax. Contact Aotopay attorneys to get more detailed information about taxation nuances in the NTRC.

How Aotopay Attorneys Can Assist You

If you have any questions remained about how to register a company in Northern Cyprus, Aotopay attorneys are always available online to support you with finding the right answers. Lawyers possess versatile registration expertise gained through more than 11 000 cases closed worldwide, including in NTRC. Think about your priorities and expectations. Get fully professional and personalized legal assistance in return.

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