The Turkish Republic of Northern Cyprus is among the favorite regions for investors planning to invest in 2023. There are various investment opportunities in the country, which attracts investors with its natural beauties, climate, geographical position, economic development and safe environment. We have listed the reasons to invest in the country, which is beautiful in every corner:
Security:
TRNC has the 3rd lowest crime rate among European countries. It has the feature of being a country.
Tourism Paradise
There has been a significant growth in the tourism sector in the last 5 years. TRNC has become a tourism paradise with its unique nature, sea and wonderful Mediterranean climate and has become a popular destination for tourists. TRNC hosts over 1 million tourist visitors every year.
Student Population:
The education sector is one of the locomotive sectors in the TRNC. The student population is very high compared to the country’s population, offering very attractive investment opportunities for investors. Over 100,000 students from over 100 different countries are studying at TRNC Universities.
Modern Real Estate Projects:
Investment in housing and land is very advantageous in the TRNC, which is a tourism paradise and has a high foreign student population. Modern real estate projects create investment opportunities in Northern Cyprus. Every year the construction sector offers specially designed housing projects that appeal to local and foreign investors. You can benefit from various launch discount opportunities for these projects, which are mainly designed for tourism and education needs. Rental prices are above average in the country, which is visited by tourists from all over the world, especially at certain times of the year. The depreciation period of the real estate you buy in the Turkish Republic of Northern Cyprus varies between 8 and 13 years. While real estate values in the TRNC are much lower than in European countries, rental yields are quite high and therefore the return on investment is much faster than in other countries.
Rapid Rise in Real Estate Values:
Real estate values in TRNC have risen very rapidly in recent years. The country-wide value increase in the last one year is 30%. Some regions experienced value increases of 200% to 300%.
Easy Residence Permit:
The Turkish Republic of Northern Cyprus is among the countries that grant easy residence permits to foreign citizens. You can get a residence permit by buying a real estate property in the country. The country starts issuing residence permits for 2 years each after 3 years. It is also possible to obtain a permanent residence permit after a certain period of time in the country. Your children born in the TRNC can also benefit from these rights.
Investment Incentives:
TRNC, with its ever-growing economy, offers many economic facilities to local and foreign investors, enabling investors to make a profitable start. You can establish your dream business by taking advantage of various incentives in the country, which has a quality investment environment.
Tax Advantages:
In TRNC, tax advantages and some incentives are applied to investors. There is no capital gains tax on immovable property. International and offshore companies are exempt from most taxes. Dividend transfers and capital gains are not taxed. It has an extensive network of double taxation agreements with many countries, including Russia, Turkey and other eastern bloc countries. Inheritance tax is only 1%.
Foreign Investor Influx:
Northern Cyprus, which is a visual feast when combined with its magnificent historical buildings, unique nature, climate, entertainment venues, sea, mountains, was flooded with investors from various countries of the world, especially Turkey, Israel, Russia, Germany, England, Iran in 2022. Realizing the investment advantages listed above, foreigners make large investments in the country and make a significant contribution to the rapid development of the country’s economy and values.
