Reasons to Invest in Northern Cyprus in 2023?

The Turkish Republic of Northern Cyprus is among the favorite regions for investors planning to invest in 2023. Natural beauties, climate, geographical position, economic development and safe environment are some of the benefıts of Northern Cyprus which creates various investment opportunities for investors. We have listed some of the reasons for investing in Northern Cyprus:

• Security: The TRNC is the 3rd country with the lowest crime rate among European countries. 

• Tourism Paradise: There has been a serious growth in the tourism sector over the last 5 years. TRNC has become a tourism paradise with its unique nature, sea, and wonderful Mediterranean climate, and has become a frequent destination for tourists. The TRNC hosts over 1 million tourists every year.

• Student Population: The education sector is one of the locomotive sectors in the TRNC. The fact that the student population is very high compared to the country's total population offers very attractive investment opportunities for investors. More than 100,000 students from over 100 different countries study at TRNC Universities.
  

• Modern Real Estate Projects: Housing and land investment are very advantageous in the TRNC as the country has very active tourism and high foreign student population. Modern real estate projects create various investment opportunities in Northern Cyprus. The construction sector offers special design housing projects that are attractive to domestic and foreign investors every year. You can take advantage of various launch discount opportunities of these projects, which are mainly designed for tourism and foreign student needs. Especially in certain periods of the year, the rental prices in the country are above the World averages. The Return on Investment in a real estate varies between 8 and 13 years in Northern Cyprus. While the real estate values ​​in the TRNC are much lower than in European countries, the rental income is quite high and therefore the return on investment is much faster compared to other countries.

• Rapid Increase in Real Estate Values: Real estate values ​​in TRNC have increased very quickly in recent years. The overall Real Estate values have increased 30% comparing to previous year. In some regions of the Country, this value varies between 200% to 300%.

• Easy Residence Permit: The Turkish Republic of Northern Cyprus is among the countries that grant foreign citizens an easy residence permit. You can have the right to obtain a residence permit by purchasing a real estate in the country. The country first gives its annual residence permit for 3 consequtive years and after that period you are allowed to get 2 years permit at one go. At the same time, it is possible to obtain a permanent residence permit after a certain period of time has passed in the country. Children born in the TRNC can also benefit from these rights.

• Investment Incentives: With its ever-growing economy, the TRNC offers many economic conveniences to domestic and foreign investors, allowing investors to make a profitable start. You can establish the business of your dreams by taking advantage of various incentives for investment. 

• Tax Benefits: Tax benefits and some incentives are applied to investors in the TRNC. The immovable property tax (Capital Gains Tax) is not applied. International and offshore companies are exempt from most taxes. There is no tax on dividend transfers and capital gains. It has a wide network of double taxation agreements with many countries, including Russia, Turkey and other eastern bloc countries. Inheritance tax is only 1%.

• Foreign Investors Interest: With its magnificient historical structures, unique nature, climate, entertainment venues, sea and mountain, Northern Cyprus have attracted many investors especially from Turkey, Israel, Russia, Germany, United Kingdom and Iran. Realizing the investment advantages listed above, foreign investors make a significant contribution to the rapid development of the country's economy and values ​​by making large investments in the country.