Company Formation Process for Foreign Investors

You can manage your investments through the company established in Turkish Republic of Northern Cyprus. There are 4 different types of companies that foreign investors can establish in the TRNC.

• Free Port Company (Offshore Company)
• TRNC Branches of Foreign Companies (Foreign Company)
• nternational Business Companies (International Company)
• Local Limited Companies (Local Company)

Before deciding on the type of company, you must first have the right business plan. It is possible to benefit from the advantages offered by TRNC by choosing the type of company that is suitable for the sector you decide to invest in. If the company created planning to acquire real estate in TRNC, majority of shareholders must be TRNC citizens. If the company has no plan to acquire any real estate in TRNC, all of the shareholders can be foreign nationals. Companies established in this way can easily trade in the country.

Companies are managed in accordance with the articles of the TRNC Companies Law. Every company may be subject to different laws depending on the line of activity. Apart from foreign company branches, all other companies established in the TRNC are obliged to fulfill the following conditions:

• At least one member of the board of directors must take charge in the established company.
• The company can be established in cooperation with at least two partners.
• The company must have a registered address within the country.
• A secretary who presents legal documents should be employed in the company as specified in the relevant law.
• There is a capital requirement for foreign investors who want to establish a company in the Turkish Republic of Northern Cyprus. If you are a citizen of a different country, you must have at least a capital of 25,000 euros to establish a company in the TRNC. After the company formation process completed, blocked capital is released by the bank.

Documents Required During Company Formation Process in TRNC

The documents requested from the investor during the company formation process in the Turkish Republic of Northern Cyprus are as follows:

• Copy of ID or passport
• Certificate of residence
• Clean criminal record document
• Bank block letter prepared according to the share weight of foreign shareholders

After the formal approval of the company name, we submit Memorandum of Association and other relevant documents to Company Registrar to start the formation process. It is also possible to establish a company in the country without physically being in the TRNC. The company formation process takes between 2 to 4 weeks.

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