North Cyprus Inform

Company Registration Procedure

With reference to the establishment and registration of a company, the legal form widely used for business undertakings in the TRNC, both by foreign investors and by local businessmen, is the private limited company. The exact details relating to the formation and running of a limited company in North Cyprus are detailed in the Company's Law, Cap 113 - which is virtually identical to the UK's Company Act of 1948. The permission must be obtained from the Council of Ministers for foreign ownership of TRNC registered companies and this is usually granted within two or three months of your application. The criteria for acceptance include the fact that the foreign ownership percentage of the company cannot be 100%. Foreign ownership must make up no more than 49%, with the remaining percentage of shares being owned by a North Cyprus citizen. Additionally, a business permit is also required which may be obtained from the Immigration Office.