Introduction

The island’s sunny weather and lenient fiscal policy towards expats and businesses make it a very attractive destination to move to. Investing in Northern Cyprus can be a great long-term move if you want to live abroad.

Cyprus is a great place to live, both for families, digital nomads and retirees. The island is renowned for its fabulous beaches, but it also draws people from all over the world with its stunning mountains and little valleys full of vineyards and olive groves.

Close to Europe

It is close to Europe. It only takes a few hours to get there and the trip can be done by plane to the 3 different airports on the island. You don't have to worry about long lines or traffic jams because the island is so small-and yet big enough- and accessible that you can get anywhere easily.

Cyprus is an island country located south of the Anatolian Peninsula in the eastern Mediterranean Sea. It is geographically in Western Asia, but its cultural ties and geopolitics are overwhelmingly Southeastern European. Cyprus is the third-largest and third-most populous island in the Mediterranean. It is located south of Turkey, north of Egypt, east of Greece and west of Lebanon and Syria. Its capital and largest city is Nicosia.

A large expat community

The expats that have made their home in Northern Cyprus are not just there for a holiday or two, they're looking to settle down. In fact, the expats who make up much of the population have been living there for decades. As a result, there is a large and established expat community that offers support and camaraderie for newcomers. For those who wish to relocate but don't know anyone else who has done so before, this can be an invaluable resource; having people around you who know what it's like to live abroad can help alleviate some of your concerns about making such a big change in your life!

Low taxes

Living in Cyprus can bring many lifestyle and financial advantages. Life, in general, is more relaxed and there are more opportunities to spend time outdoors. The cost of living in Cyprus is generally lower, taxes are more lenient.

• If you're looking for a place to live that has low taxes, Northern Cyprus may be the right choice for you. The tax system in Northern Cyprus is designed to encourage investment and development by offering expatriate tax breaks.
• Resident taxes are not zero, but they're lower than in many other countries. Companies opened in Famagusta can benefit from 0 tax though.
• Compared with other countries in Europe, such as the UK or US (and even Australia), Northern Cyprus has some of the lowest rates of personal income tax.

Investing in Northern Cyprus can be a great long-term move if you want to live abroad.

Investing in Northern Cyprus can be a great long-term move if you want to live abroad. The country has been steadily growing over the last decade, and it's expected to continue doing so in the future. There are many reasons why investing in real estate is a good idea:

• The property prices are generally favourable than in Europe.
• Investing in property will increase your net worth over time as the value of that property increases
• Investing in the local economy will help grow your money faster than inflation because there's more demand for goods/services than supply
• Real estate can offer tax benefits when purchased through an offshore corporation

International Business Companies (IBC) are simply offshore Companies formed under the TRNC Laws. Such companies perform all activities aimed at overseas and derive income from activities abroad. Activities are run without being dependent to the TRNC Income Tax Law, Money and Foreign Exchange Law and Corporation Tax.

Advantages of IBC Companies:

• Low Tax:

IBC Companies are liable to corporate tax only at the rate of 1% and there is no tax on dividends. It will be like a breath of fresh air.

• Opportunity to carry out Transactions Freely:

During the process of setting up your IBC Company you would be required to set up a bank account in North Cyprus. Once this account is set up, all earnings and resources gained may be transferred freely abroad from your IBC account. With a solid banking system you will be able to have multiple bank accounts in different currencies and you will enjoy doing transactions with different international banks and financial services.

• Low Costs in regards to Establishment of IBC:

IBC Companies also do not cost much to establish in Northern Cyprus comparing to other jurisdictions providing this kind of instruments. I have listed the main costs below in regards to the establishment. These are simply:

1. Capital:The minimum paid -up capital required of IBC is €20.000.-Euro. This payment will be lodged in the account set up under the Company and may be withdrawn after official establishment of Company.
2. Application Fee: Charge payable on application is €500-Euro
3. Annual License Fee: The annual license fee of International Business Companies (IBC) are € 5,000.-Euro per annum.

• Strict Confidentiality: as far as the legal entity is concerned. Shareholders, directors and secretaries can not be seen in public register. An extra layer of confidentiality can be found when corporate nominee shareholders, nominee directors and secretaries are used.

• No visit required to Northern Cyprus:

The process of establishing International business Company in Northern Cyprus is easy, our in house lawyers will guide you through all the steps and will help you establish it safely and securely. Northern Cyprus is a very open country when it comes to foreign business people, international entrepreneurs and these can perform various activities in this country without being required to come here. This is possible through a power of attorney granted to a trusted person, such as a lawyer in Northern Cyprus.

• Strong Asset Protection:

It is very difficult to freeze an International Business Company’s bank account or file a law suit against it in Northern Cyprus. This means your assets are safer comparing to vast majorities of the countries in the world.

Conclusion

Investing in Northern Cyprus can be a great long-term move if you want to live abroad. The lifestyle is typically Mediterranean with its tranquil, slow laidback pace and “enjoy the moment” attitude. Fruit, veg, fish and various seafood can be bought fresh all year round. Colourful fruit and veg markets are dotted everywhere. The expat community is large, there are low taxes and the island is close to Europe. If these factors appeal to you then it could be worth looking into investing in real estate and other assets on this island.