Company Establishment in TRNC
1.Company Name Inquiry:
• During the company name determination phase, it is important to choose a suitable and
usable name. A detailed name inquiry will be made in this regard.
2.Documents and Credentials:
• Identity card or passport information of each shareholder is required.
• There must be at least 2 shareholders. One of these shareholders must be a Cypriot citizen.
• The company management must have 1 director and 1 secretary. These positions can be
elected from among the shareholders or appointed from outside.
3.Residence Documents:
• Residence documents can be obtained through e-government or from the mukhtar.
4.Company Address and Criminal Records:
• Documents showing the address where the company will operate (lease agreement or
mukhtar’s letter) must be submitted.
• Criminal records will be requested from shareholders and directors.
5.Company Capital:
• The company capital must be at least 25.000 Euro.
6.Letter of Guarantee:
• For a foreign company director (other than a TRNC citizen), a 24-month letter of guarantee in
the amount of 200.000 TL is required to be submitted to the tax office.
7.Financial Obligations:
• The estimated cost for company incorporation is 2,500 STG + VAT.
INCLUDED SERVICES:
• Company name search
• Preparation of the company’s articles of association and bylaws
• Payment of company fees
• Tax office registration
• Insurance office registration
• Provident fund office registration
• Labor office registration and related fees and payments
• 4-certificate of approval
• Approval of articles of association and bylaws
• Certificate of incorporation of limited liability company
• Company stamp
