What is a Free Trade Zone (FTZ) Company in Northern Cyprus?

A Free Trade Zone (FTZ) Company in Northern Cyprus is a business entity established within designated free trade areas, benefiting from tax exemptions and other incentives. FTZ companies engaged in international trade are exempt from corporate tax, VAT, and customs duties. However, if they conduct business within the Turkish Republic of Northern Cyprus (TRNC), they are subject to a 10% corporate tax and a 15% income tax on remaining profits.

What are the costs involved in establishing a Free Trade Zone (FTZ) Company in Northern Cyprus?

The costs of setting up an FTZ company in Northern Cyprus include an initial application fee of $1,500 – $2,500, notarization and translation fees of $200 – $500, and consultancy fees ranging from $2,000 – $3,000. The required minimum capital deposit is €25,000. Additional expenses include monthly accounting fees of $200 – $500, an annual license renewal fee of around $500, office rental, and staff costs.

What are the steps to establish a Free Trade Zone (FTZ) Company in Northern Cyprus?

The process involves several steps: (1) Registering and approving the company name, (2) Preparing and notarizing the Articles of Association, (3) Depositing the required capital in a TRNC bank, (4) Completing company registration and obtaining the Free Trade Zone operational license, and (5) Ensuring annual compliance with tax submissions and renewals.

How long does it take to set up an FTZ company in Northern Cyprus?

The timeline for establishing a Free Trade Zone (FTZ) Company in Northern Cyprus typically ranges from 3 to 4 weeks, depending on the efficiency of document submission, approval processes, and regulatory requirements.

What are the tax benefits of an FTZ company in Northern Cyprus?

FTZ companies in Northern Cyprus enjoy significant tax benefits, including full exemption from corporate tax for international operations, exemption from VAT on transactions, and no customs duties on imports. If an FTZ company conducts business within the TRNC, it is subject to a 10% corporate tax and a 15% income tax on remaining profits after corporate tax deduction.

What are the employee-related obligations for an FTZ company in Northern Cyprus?

FTZ companies must comply with employee-related tax obligations, including withholding income tax from wages and contributing to employees' social insurance and provident fund premiums.

What are the main advantages and disadvantages of setting up an FTZ company in Northern Cyprus?

Advantages of an FTZ company include full tax exemption on international operations, free international fund transfers, and access to business incentives. However, disadvantages include limited international recognition of TRNC, potential bureaucratic delays, and a smaller local market compared to larger economies.

Why Invest in Sea View Properties in Istanbul?

Why Sea View Properties in Istanbul Are in High Demand

1. Emotional and Psychological Appeal

Humans are naturally drawn to water. Sea views offer a deep sense of peace and relaxation. People feel emotionally better when surrounded by open views and natural elements like the sea. This isn't just a luxury—it's a lifestyle choice.

2. Financial Benefits of Sea View Real Estate

Properties with sea views typically come with a 35–50% price premium compared to similar properties without a view. Rental prices are also 45–60% higher for sea view units, making them ideal for investors seeking stronger returns.

More importantly, sea view properties sell faster. Their average time on the market is less than half of that of similar properties without views—making the exit strategy much easier for investors.

3. Istanbul’s Unique Landscape

Istanbul spans two continents, separated by the Bosphorus Strait. With nearly 100 kilometers of waterfront, sea views are central to the city’s identity. But not all views are created equal.

4. Bosphorus vs. Marmara Views

Owning a Bosphorus-facing property is the ultimate prestige. However, such properties are extremely limited in number and are mostly historical "yalıs"—waterfront mansions—with prices starting at several million dollars.

Hillside properties with views are more available but often in older buildings that are not earthquake-safe or lack proper title deeds—posing risks for foreign buyers.

5. Best Areas for Sea View Properties

Asian Side: Kartal, Maltepe, Pendik – Ideal for families, peaceful, spacious, and overlooking the Princess Islands. Offers large apartments, green areas, and easy access to Sabiha Gökçen Airport.

European Side: Zeytinburnu – More central and urban, with panoramic views and skyline visibility. However, the price gap between sea and non-sea view homes is nearly 100%.

Further West: Beylikdüzü, Büyükçekmece – More affordable, good facilities, and family-friendly developments. Offers the "city within a city" concept, although without Princess Island views.