Comparison of new investment laws with previous laws in Northern Cyprus

North Cyprus, which forms the northern part of the island of Cyprus, is known as an attractive destination for tourists, expats and investors from all over the world. With its beautiful and sunny beaches, thousands of years of history, rich and diverse culture, and affordable living costs, this region offers unparalleled opportunities for investment in diverse areas.

Northern Cyprus, which has seen significant political and economic developments in recent years, has quickly become a popular destination for international investors. Offering a unique set of advantages, including reasonable cost of living, skilled and capable workforce, developing infrastructure and a growing tourism landscape, the region provides diverse investment opportunities for investors of various interests.

In addition, Northern Cyprus has seen important changes in its investment laws in recent years. These changes have been made with the aim of attracting more foreign investment and simplifying the investment process for foreigners. Therefore, one of the key factors that have increased the attractiveness of investing in Northern Cyprus is the new investment laws of Northern Cyprus that have been implemented by the government of this region.

These new laws, which are designed to simplify the investment process for foreigners and encourage investment in vital sectors of the economy. In this article, we at Zahorian Investment Company will examine and compare the new investment laws with the previous laws in North Cyprus. Also, to get new and practical information about investing in North Cyprus, you can refer to the article Investing in North Cyprus 2024 published in Zahorian Investment Company!

Comparison of new investment laws with previous laws in Northern Cyprus

Important points in the new investment rules in Northern Cyprus

Purchase of real estate without restrictions: According to the new rules, foreigners can purchase real estate in North Cyprus without restrictions. This creates more opportunities for foreign investors, compared to previous laws that placed limits on the number of properties foreigners could purchase.

Tax benefits: The new investment laws provide significant tax benefits for foreign investors. For example, real estate investors can enjoy a 10-year tax break on their investment profits.

Easier investment process: The government of Northern Cyprus has made significant efforts to simplify the investment process for foreign nationals. The administrative bureaucracy related to obtaining investment permits has been significantly reduced and a web platform has been established to provide information and services to investors.

Main areas for investment in North Cyprus

Due to the new investment laws in North Cyprus, this area offers wide opportunities for investment in diverse economic areas. Some of the main areas that are attractive for investment are:

Real Estate: Due to the growing demand for real estate in North Cyprus, this area offers lucrative investment opportunities for investors.

Tourism: The tourism industry in North Cyprus is developing rapidly and investment in hotels, restaurants, accommodation and other tourism infrastructure can be profitable.

Agriculture: Northern Cyprus has a favorable climate for agriculture, and investment in agriculture, especially in organic production, can be profitable.

Industry: The government of Northern Cyprus supports investment in industry, especially in areas such as manufacturing, food processing and information technology.

Major cut in new investment rules in Northern Cyprus

Examining the benefits of investing in North Cyprus

1. Economic development:

• With a high economic growth rate, Northern Cyprus is one of the most dynamic economies in the Mediterranean region.
• The government of this region actively supports foreign investment and offers several incentives to attract investors.

2. Real estate market:

• The demand for real estate in North Cyprus is constantly growing.
• Property prices are very reasonable compared to other European countries and have a high potential to increase in value in the future.

3. Tourism:

• The tourism industry in Northern Cyprus is developing rapidly.
• With many natural and historical attractions, this area has a high potential to attract tourists.
• Investing in hotels, restaurants and other facilities related to tourism can be significantly profitable.

4. Agriculture:

• Northern Cyprus, with its Mediterranean climate and fertile soil, is an ideal environment for agriculture.
• It is possible to grow all kinds of agricultural and garden crops in this area.
• Exporting agricultural products to European countries can be highly profitable.

5. Tax exemptions:

• The government of Northern Cyprus has provided several tax exemptions for foreign investors.
• This can significantly reduce investment costs.

6. Ease of doing business:

• The process of registering a company and starting a business in North Cyprus is very simple and fast.
• The rules and regulations related to investment and trade in this region are very flexible.

7. Lifestyle:

• Northern Cyprus is very affordable in terms of living costs compared to other European countries.
• The people of this region are warm and hospitable.
• The Mediterranean climate and beautiful beaches make North Cyprus an ideal place to live.

Investment approaches in North Cyprus

Preparation of the property:

• Buying an apartment, villa or land
• Obtaining residence by purchasing property

Setting up the company:

• Activities in various commercial, production and service fields
• Use of tax facilities

Investing in the stock market:

• Buying shares of various companies in North Cyprus
• Investment in investment funds
• Depositing capital in funds with different risk and returns

Investing in the tourism industry:

• Construction of hotel, restaurant, entertainment complex and…

Also, property purchase services in North Cyprus and Turkey is another service of Zahouriyan Investment Company. These services are provided by real estate experts with legal license and credit and years of successful experience by Zahouriyan Investment Company!

Investment approaches in North Cyprus

Overall, the new investment laws in Northern Cyprus provide many benefits to foreign investors. These new laws reduce investment restrictions, simplify residency requirements, and provide more tax incentives for investors.