Investment in Northern Cyprus, on every level, is evident everywhere you look. Whilst the Government is taking care to protect the natural beauty of this unspoilt paradise, they are also aware that the foreign investment over recent years is the way forward for any country that relies so heavily on the construction and tourism sectors. The North Cyprus Government offer a series of investment incentives to encourage foreign investment to North Cyprus and those willing to invest in North Cyprus can be sure of a positive Government reception and attitude.
With all other Mediterranean locations having been over exploited in terms of investment property development and price inflation, North Cyprus still offers reasonably priced, quality Northern Cyprus property. There are great opportunities to be had and property investors, as well as private purchasers, are always on the hunt for the next one!
If you are interested in investing in property in North Cyprus and wish to establish a registered company here, the legal form of company formation that is used for business undertakings by both foreign investors and local businessmen is the private limited company – which is just like the UK equivalent. The exact details relating to the formation of a limited company in Northern Cyprus are detailed in the Company’s Law, Cap 113 – if you examine this you will see it is virtually identical to the UK’s Company Act of 1948.
You have to obtain the permission of the Council of Ministers if you are a foreigner and you wish to own a North Cyprus registered company – this is usually granted within two or three months of your application. In Northern Cyprus the foreign ownership percentage of the company cannot be 100%. Foreign ownership must make up no more than 49%, with the remaining percentage of shares being owned by a North Cyprus citizen. The standard is to use your lawyer or accountant as a 51% shareholder, who will act as a silent partner allowing you full control over the running of the company and its assets.
Investment opportunities abound in property and tourism in North Cyprus – from the construction and establishment of hotels, bars and restaurants to service the tourism sector to running tourist recreational and entertainment businesses – from water sports to golf clubs – from water parks to beach discos – from housing developments to Marinas.
And if you are interested in investing in North Cyprus Property, or any other projects, you will not have to worry about a shortage of skilled workers or professionally qualified employees, as well a reputable Developers and builders. With the ability of attracting skilled individuals and foreigners to come and live here, your personnel requirements will be fulfilled.
North Cove Estates specialise in helping foreign nationals in every aspect of investing in Northern Cyprus. Whether you are looking to invest in a few North Cyprus properties to rent out or sell on, or to invest in major Northern Cyprus touristic and commercial projects, we can arrange everything including the setting up of a Limited company, finding you the right properties / land, the design & build, as well the marketing of your investments when you come to selling on or renting out.
Please contact us for more information on the latest North Cyprus Investment properties and opportunities.