Questions that might come to your mind!
Why is Northern Cyprus an attractive investment destination?
Northern Cyprus is an excellent choice for foreign investors due to its favorable economic conditions, low taxes, strategic geographical location, and affordable cost of living. The island offers numerous opportunities thanks to its high growth potential in real estate, tourism, and various business sectors.
What is the economic situation of Northern Cyprus?
The economy of Northern Cyprus is growing, with various industries such as tourism, construction, agriculture, and online trade developing rapidly. This economic growth creates numerous opportunities for investors, especially in the real estate sector.
Is Northern Cyprus suitable for foreigners to buy property?
Yes, foreigners can easily purchase property in Northern Cyprus. The property purchase regulations for non-citizens are straightforward and transparent. Buying property is not only a profitable investment but may also provide options for residency or citizenship.
What are the tax rates in Northern Cyprus?
Northern Cyprus is known as one of the low-tax destinations in Europe. Income tax and property tax are significantly lower compared to other European countries, making it an attractive location for investment.
Does buying property in Northern Cyprus lead to permanent residency?
Yes, if you purchase property with a specified value, you may qualify for permanent or temporary residency in Northern Cyprus. This residency can allow investors and their families to live and work in the country.
What types of businesses are the most profitable in Northern Cyprus?
Tourism, real estate, restaurants, and hotels are among the most profitable businesses in Northern Cyprus. With the significant growth of tourism and the increasing interest in new areas, investing in these sectors can yield excellent returns.
Do I need to know the local language to invest in Northern Cyprus?
While knowledge of Turkish or Greek can be helpful, English is widely spoken in Northern Cyprus, and most business interactions are conducted in English. Therefore, you don’t need to be fluent in the local language to invest.
How can I grant power of attorney for investing in Northern Cyprus?
To grant power of attorney for investment matters in Northern Cyprus, you can choose an experienced and reputable lawyer in the country. Your lawyer can assist you throughout the investment process, including property purchase, company registration, legal matters, and taxes. To proceed, you will need to set up a formal power of attorney agreement. Our experts are ready to collaborate with you and provide specialized advice to ensure that all investment steps are carried out with complete confidence and security.