Establishment of a local company
Opening a Local Company in Northern Cyprus
What is a local company?
A local company in the Turkish Republic of Northern Cyprus (TRNC) is a legal entity registered in accordance with local legislation and has the right to operate within the territory of the TRNC. Such a company may own property, hire employees, enter into contracts, and open bank accounts.
The registration service includes:
- Consultation on company structure and legal requirements;
- Preparation of founding documents (charter, application, resolutions);
- Submission of documents to the Company Registry and Chamber of Commerce;
- Registration with the tax office and obtaining a tax number;
- Arrangement of a legal address (if required);
- Additional services: accounting, licensing, HR processing, opening a bank account.
Participation of foreign founders
Foreign nationals can be founders and shareholders of a local company. In certain sectors (e.g., real estate sales, car rentals, construction), the participation of a TRNC citizen as a co-founder or director is required. These issues are considered individually during the planning stage.
It is important to understand that some activities are not available to foreigners even with a Cypriot director. Clarify individually before registration.
What documents are required to open a company?
- Passport;
- Criminal record certificate from the country of citizenship (if you have lived in Northern Cyprus for more than five years, a local certificate is acceptable);
- Office lease agreement or premises where the activity will take place (must be for commercial use);
- Certificate from the mukhtar (proof of residence);
- Having a bank account for deposit freezing.
Timeframe and cost
Company registration typically takes between 3 to 8 weeks and includes the following steps:
- Approval and confirmation of the company name (it is recommended to submit 3–5 options to speed up the process). This stage may take up to 15 working days;
- Drafting the charter and preparation of founding documents;
- Submission of documents to the relevant government authorities;
- Company activation.
The final cost depends on the legal form, the composition of the founders, and selected additional services.
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Establishment of a local company
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