and Construction
PUBLICATIONS
PURCHASING PROPERTY IN THE
TURKISH REPUBLIC OF NORTHERN CYPRUS
IBC Companies
The IBC Company is liable to corporate tax only at the rate of 1% of the net profit after deducting depreciation and expenditures.
It is exempt from all kinds of direct tax such as VAT, stoppage tax, immovable property tax.
No inheritance or income tax that can result from transferring shareholding in the IBC.
There is no tax on distribution of dividends. Furthermore, there are no exchange control restrictions on such distributions, subject to such distributions, being affected through official bank channels.
Free Zone Companies
All income derived from activities and operations undertaken by producers in the Free Port and Zone are exempt from Corporate and Income Taxes (including all kinds of trade, production and service).
All kinds of operations including sale of goods to foreign countries and Free Port and Zone in North Cyprus as well as buying of goods are exempt from custom duties, VAT and indirect taxes.
All income derived from activities and operations undertaken by investors other than producers are exempt from Corporate and Income Taxes when the goods and services are not directed to the Turkish Republic of Northern Cyprus.
North Cyprus Free Trade Zone company is not subject to any Value Added Tax,
0% Tax on Corporate Profits,
No withholding tax on Dividends paid from the company,
No Income tax for no resident shareholders (Residing in TRNC less than 183 days in calendar year).