Company Registration (Free Port)
How to Register a Company in the Free Zone (Port Area) in Northern Cyprus?
- Features of the Free Economic Zone (Famagusta)
- Tax Incentives and Advantages
- Founder Requirements
- Registration Process and Timeline
Registering a company in the Free Zone of Northern Cyprus is a strategic choice for businesses focused on international trade. The only active zone of this type is located in the Famagusta port area. It is a separate territory with a unique legal and tax regime designed to promote the export of goods and services outside the TRNC.
Features of the Free Economic Zone (Famagusta)
Companies registered in the Free Port legally differ from standard local companies ("Local Company"). The main distinction is the target market: the activities of a Free Zone resident must be export-oriented rather than aimed at the domestic market.
Note: Doing business with TRNC residents is possible, but in this case the company loses some tax benefits and falls under standard regulations.
Tax Incentives and Advantages
Free Zone residency provides investors with significant fiscal and operational benefits:
- 100% foreign ownership. Unlike many local business sectors, a local partner is not required.
- Tax optimization. Zero VAT rate for foreign trade activities.
- Customs benefits. Simplified procedures and no duties on equipment imported for use within the zone.
- Infrastructure. Access to rent production facilities, warehouses, and offices directly in the port area.
Founder Requirements
Both foreign individuals and legal entities can register a company in the Free Port. There are no citizenship restrictions, provided the compliance (due diligence) procedure is completed. The key requirement is that the business model complies with the zone’s rules (export, transit, production for export).
Registration Process and Timeline
Opening a Free Zone company is more complex than a standard company, as it requires approval from the Free Zone Council. The process usually takes 2 to 4 months and includes:
- Analysis of the business plan for compliance with zone requirements.
- Submission of the application and obtaining approval from the Free Zone Council.
- Drafting the Articles of Association and preparing the incorporation documents.
- Registration with the Registrar of Companies and opening a corporate bank account.
- Selection of premises (mandatory) and signing a lease within the zone.
De Jure Consulting lawyers assist clients at every stage: from application submission to obtaining a tax number and hiring personnel.
Book a call
Leave a request and receive expert assistance from our specialist.
SERVICES
Drafting Sales Contracts in Northern Cyprus
Consultation with a licensed lawyer in North Cyprus
Property Check (Search) in Northern Cyprus: Encumbrances
Legalization of a power of attorney issued abroad
Drafting a will in two languages, registration in the local court
Inheritance Processing in Northern Cyprus
Establishment of a local company in Northern Cyprus
Company Registration (Free Port)
Representation in Court in Northern Cyprus: Legal Services
Conducting transactions for the purchase/acquisition of residential real estate or a plot of land
Registration of the sales contract at Tax Office and Land District Office
De-registration of the sales contract at the tax office and land district office
Title transfer in Northern Cyprus
Application to the council of ministers for purchase permit
Signing of documents as legal representative (power of attorney)
Assistance with water connection
Assistance with electricity connection