A look at government policies to attract foreign investors in North Cyprus

North Cyprus has long been an attractive destination for foreign investors due to its strategic geographical location on the Mediterranean Sea. In recent years, the government of Northern Cyprus has introduced a series of new policies and initiatives to attract foreign investors. These policies have not only helped to improve the economic situation of this region, but have also provided new opportunities for international investors. In this article, we will comprehensively review these policies and their effects on the economy of Northern Cyprus.

A look at government policies to attract foreign investors in North Cyprus

Tax and economic policies

One of the main tools of the North Cyprus government to attract foreign investors is tax incentives. The government is trying to create an attractive environment for investment by providing tax discounts and tax exemptions for newly established companies, especially in the fields of technology and innovation. For example, companies engaged in research and development can deduct up to 120% of their taxable income for their research expenses.

It is also intended to reduce the income tax rate and provide tax exemptions for foreign investors. These measures have made North Cyprus one of the attractive areas for international investments. In particular, tax exemptions for companies active in the field of technology and innovation can be strong incentives to attract foreign investors.

Encourage investment in real estate

The North Cyprus real estate market is also one of the most popular sectors for foreign investors. The government is trying to attract investors to this sector by providing various incentives, including reducing the cost of buying and selling property, tax exemptions for buying and selling real estate, and offering low-interest loans. These incentives are especially intended for large projects and infrastructure developments.

Immigration and visa policies

The government of Northern Cyprus has implemented special sites to attract skilled and specialized labor from other countries. One such program is the Nomad Digital Visa, which allows individuals to live and work in Northern Cyprus for one year, with the option of extending it for another two years. This program is specifically designed to attract skilled workers in the fields of technology and innovation.

In addition, new policies to attract skilled workers include the provision of work visas with a minimum salary of 2,500 euros and a work contract of at least two years. These programs are designed to attract skilled and specialized personnel from other countries and increase the level of knowledge and expertise in the economy of Northern Cyprus.

Government policies to attract foreign investors in North Cyprus

Strategic and infrastructural benefits

The geographic location of North Cyprus as a bridge between Europe, Asia and Africa is one of the important advantages for attracting foreign investors. By investing in infrastructure development, including ports, airports, and transportation networks, the government is trying to improve economic conditions and attract international investments. These measures have made North Cyprus one of the attractive destinations for international business and investment.

Policies for attracting skilled and specialized labor

One of the important aspects of the Northern Cyprus government’s policy to attract foreign investors is to pay attention to attracting skilled and specialized labor force. These policies include the provision of digital nomad visas and special programs to attract skilled workers from other countries.

These programs are designed to increase the level of knowledge and expertise in the economy of Northern Cyprus and to create a suitable environment for technological and innovative investments. In addition, if you are looking for investment in North Cyprus, you can refer to the article Investment in North Cyprus 2024 published in Zahorian Investment Company and get more information about investment in this country!

Northern Cyprus financial incentives and banking facilities

The North Cyprus government is trying to attract foreign investors by providing financial and banking incentives. These incentives include the provision of low-interest loans for large projects and infrastructure developments, as well as tax breaks for investment in various economic sectors. These measures have made international investors more confident to invest in North Cyprus.

North Cyprus development and infrastructure projects

By investing in development projects, the government of Northern Cyprus plays a big role in improving economic conditions and attracting international investments. These projects include the development of ports, airports, and transportation networks. For example, developing ports and increasing the capacity of international airports can help attract more investments in trade and transportation. Next, another service provided by Zahoorian Investment Company is investment services in North Cyprus. By visiting the investment services page of Zahoorian Investment Company, you can get free advice about investing in North Cyprus!

Northern Cyprus research and development programs

The government of Northern Cyprus is trying to attract international investment in innovative and technological fields by providing financial incentives for research and development. These incentives include tax exemptions for companies active in research and development, as well as providing low-interest loans for research projects. These measures have made North Cyprus one of the attractive destinations for research investments.

A look at the policies of attracting skilled and specialized labor in North Cyprus

Conclusion

By implementing attractive tax and economic policies, developing infrastructure, and providing special incentives for real estate investment and attracting skilled labor, Northern Cyprus has been able to emerge as one of the attractive destinations for foreign investors. These policies have not only helped to improve the economic situation of this region, but have also provided new opportunities for international investors.

Due to current trends and new government policies, it is expected that North Cyprus will see a significant increase in the volume of foreign investments in the coming years. This issue will not only help to improve the economic conditions of this region, but also bring new job opportunities and increase the level of knowledge and expertise. Finally, these policies can lead to the creation of a dynamic and attractive economic environment for international investments in Northern Cyprus.