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TRInternational Business Company (IBC)
It's an option for foreigners without business in Northern Cyprus to receive funds worldwide with 0% tax, as long as there's no business activity in Northern Cyprus. It's an offshore company in Famagusta's Freeport, requiring a local bank account and invoicing from Northern Cyprus.
The initial cost is 10,000 Euro, with accountant fees of 100-150 Euro depending on the number of invoices.
No risks have been seen until now.
