Free Port Company
One of the great tax opportunities TRNC provides especially for online and international businesses. We can structure your free port company with ease and speed. Please contact us for details and quotation.
Under the application made for registration:
A name check is conducted and approved.
There are no nationality restrictions for shareholders or directors in subsidiary companies of Free Port Companies; the company can be established and registered by a minimum of 2 individuals (or legal entity).
Any natural or legal persons wishing to operate in the Free Zone can establish such a company.
The company's Articles of Association and Bylaws must be prepared by a lawyer in accordance with the rules of Chapter 113 of the Companies Law.
Photocopies of identification cards or passports showing the identities of shareholders, directors, or managers are required.
Non-EU and non-TR citizens participating in the company must provide a Certificate of Good Conduct.
If the participating entities in the Free Zone Company to be established (51% and above) are non-citizens of the TRNC, the minimum capital is 25,000 Euros.
This Free Port Companies are subject to Income and Corporate Tax Laws and can use foreign currencies for accounting records.
Transactions of companies operating in the Free Port area are subject to some exemptions:
They are exempt from Income Tax and Corporate Tax as long as they do not export their services to the TRNC.
They are outside the State customs line for customs duty payment obligation and are entirely exempt from customs duty.
All goods imported under the VAT Law are exempt from VAT.
Profit transfer is unrestricted, and there is no tax in the TRNC.
