Combination of real estate investment and vacation

Between recognition and autonomy: Northern Cyprus

In the north of the Mediterranean island of Cyprus lies the Turkish Republic of Northern Cyprus (TRNC), a de facto state that is not recognized by the international community with the exception of Turkey. Although de jure part of the Republic of Cyprus, the government in southern Cyprus has not exercised control over this area since the Turkish intervention in 1974. The European Union (EU), on the other hand, considers the island of Cyprus to be inseparable and classifies Northern Cyprus as a special area.

Lefkoşa: Capital with charm

The capital of the TRNC is Lefkoşa, the divided metropolis of Cyprus. Here, Turkish and Greek influences merge to create a unique cultural flair. Visitors explore the historic old town, admire the Venetian city walls and immerse themselves in the lively market atmosphere.

Natural wonders and coastal idyll

Cyprus, the easternmost of the larger Mediterranean islands, impresses with its diverse landscape. Northern Cyprus occupies 3,355 km² of this, characterized by the Kyrenia Mountains, which run parallel to the north coast. On the coast, extensive sandy and pebble beaches alternate with steep rocky coasts and small bays.

Unique features:

A country steeped in history: Northern Cyprus bears the traces of an eventful past, from ancient ruins to medieval castles.

Cultural melting pot: Turkish and Greek cultures meet here and shape traditions, cuisine and way of life.

Untouched nature: Breathtaking landscapes, crystal-clear sea and secluded beaches offer a paradise for nature lovers.

Hospitality: The warm-hearted population welcomes visitors with open arms and invites you to linger.

Northern Cyprus is a country full of contrasts and fascinating history. Anyone looking for something special and wanting to go off the beaten track will find an unforgettable travel destination here.

Living in Northern Cyprus: Benefits and Attractiveness

A paradise for peace and security

Northern Cyprus offers a unique range of quality of life, security and stunning nature.

Safety as a top priority:

The island enjoys one of the lowest crime rates in the world and offers a safe environment for families and people of all ages.

Mediterranean climate:

Escape the cold weather and immerse yourself in the warmth of Cyprus. Mild winters and hot summers with plenty of sunshine characterize the region.

Fresh and cheap food:

The fertile landscape offers an abundance of fresh, seasonal produce at affordable prices. Enjoy juicy oranges from the orange groves of Morphou and discover other culinary treasures.


Investment opportunities:

Northern Cyprus offers attractive opportunities for property investments that can secure you a second home or a lucrative investment property.

Peaceful life:

Escape the stress and hustle and bustle of everyday life and find peace and quiet in Northern Cyprus. The stunning landscape with deep blue sea and green mountains invites you to relax and slow down.

Life perspective:

Cyprus offers the opportunity to look at life from a new perspective. The peace and serenity of the island promote a balanced and fulfilling life.

Northern Cyprus is more than just a place to live – it is an invitation to a life full of security, sun, fresh produce, investment opportunities and above all peace.

Additional points:

Pure nature: Explore the diverse natural landscape with hiking trails, cycling routes and stunning viewpoints.

Culture and history: Immerse yourself in the rich history and culture of Northern Cyprus, from ancient ruins to traditional villages.

Hospitality: The warm population welcomes you with open arms and invites you to experience the Cypriot way of life.

Favourable cost of living: Enjoy a high level of quality of life at affordable prices.

Northern Cyprus is an ideal destination for those who long for a safe, peaceful and fulfilling life in beautiful surroundings.

The common currency in Northern Cyprus for paying in restaurants, shops and cafes is the Turkish lira. This applies to all living costs, such as buying groceries and filling up with petrol. This makes everyday life so cheap for us foreigners.

Which currencies can I pay in locally?

Euro
British Pound
US Dollar
Bitcoin
Turkish lira

Handling the different currencies is quite normal. That’s why there are exchange offices everywhere where you can exchange any currency at the current daily rate.

The British Pound

As Northern Cyprus is a former British colony, the British Pound is still a stable currency on the island, which is mainly used when buying property or cars. Most rental prices, both for holiday apartments and rental cars, are paid in British Pounds.

US Dollar

The US Dollar is particularly well-known among casino players in Northern Cyprus, as it is the currency used in large 5-star hotels and casinos. Accordingly, winnings are also paid out in USD.

In Southern Cyprus, the Euro is the only currency used.

Bitcoin

Last but not least, Bitcoin has long been established as a completely normal means of payment in Northern Cyprus. Real estate and cars have long been able to be purchased with Bitcoin. Every shop has a symbol with “Bitcoin accepted”. There are also numerous Bitcoin exchange offices on the northern island.

For example, anyone who wants to buy real estate in Bitcoin usually pays a 3% exchange fee on the purchase price. The property developer uses his own exchange for the exchange and takes responsibility for the exchange process. Compared to Europe, Bitcoin is already absolutely normal here.

Tax haven Northern Cyprus? Tax advantages at a glance

Northern Cyprus not only attracts with sun, beach and sea, but also with an attractive tax system that offers advantages for private individuals and companies.

Income tax:

No tax liability: You do not pay income tax if you spend less than 183 days a year in Northern Cyprus.

Lower tax rates: If you are liable to tax, a progressive tax rate applies:
Income up to €19,500: 0%
€19,501 to €28,000: 20%
Over €28,000: 25%

Tax-free amount for pensions: The first €3,420 of pension per year is tax-free.
Low tax on pensions: Pensions are then taxed at just 5%.


Other advantages:

National health system: 2.65% of your total income is due for the health system.

Real estate tax: Lower real estate taxes compared to other countries.


Conclusion:

Northern Cyprus offers an attractive tax system with low tax rates, a high tax allowance for pensions and a low contribution to the health system. This makes it an interesting location for individuals and companies who want to reduce their tax burden.

Start with Plan B now!

Arrange a free initial consultation today and get advice from our experts. Together we will shape your successful future!

 

GCI UNIT Worldwide is a division of TCME-Group Worldwide, one of the world’s leading professional corporate investment and foreign trade advisory firms, with a total of 17 divisions in various countries and headquartered in Malaysia.

GCI-UNIT Worldwide is very much a hallmark of high-quality service and professional excellence in many different practice areas.

With our department we are a global provider of Citizenship by Investment Programs, Honorary Citizenship, Residency Programs and Citizenship Solution over Economic Ministry. We are able to identify rare and exceptional opportunities for our clients around the globe, mainly combining sound investments with the benefits of permanent residence, passport and citizenship in this country

Our legal team and specialist lawyers are well-known in the global immigration field and have over 25 years of experience in fast-track dual citizenship programs.

We currently work with more than 70 countries, advise governments and help find investors for their projects and focus on high-net-worth individuals (HNWI) or companies that have at least double-digit million assets.

In contrast to the classic agent who wants to sell you a second citizenship, we see ourselves as a “boutice” for a special clientele.
It’s not just a question of which citizenship program is best for you, how much it costs in the respective country, but what happens after that?
Are there good international schools there for your children?
What are the business opportunities in the respective country?
What about health care, how much taxes do you have to pay in the country?
Can I obtain a second citizenship in a country of my choice even though it does not offer an official citizenship program, but the government is interested in individuals or investors who provide a benefit to the country and are therefore granted citizenship!

We are at home in every country where we offer you a residence permit or citizenship, we work locally with our tax advisors and lawyers and of course we know the country and its mentality.

In our opinion, it is not enough to just want to sell citizenship based on books or dangerous half-knowledge.

Another specialty area of full-service consulting is investment opportunity and solutions in Europe, particularly in the Balkans, Africa, Asia, the United Arab Emirates, the Caribbean and the Pacific.

Since 2016, we have been, among other things, an important mentor for various business groups, economists, financial managers, investment advisors, business leaders, lawyers and notaries in the implementation and development of programs as:

YOUR CHANCE FOR A BETTER LIFE

Global Citizenship Investment (GCI) is a global provider of:

Citizenship programs
Honorary citizenship
Citizenship through investment
Residency program
Citizenship through repatriation
Granting of citizenship in the special interest of the Republic

Therefore, we are able to identify rare and exceptional opportunities for our clients around the globe, combining, above all, solid investments that lead to the benefits of permanent residence, passport and citizenship in this country.

In addition, we are in direct contact with several governments interested in appointing business people with a specific network as honorary consuls should a suitable candidate emerge.

If you would like to discuss your internationalization and diversification plans, book a consultation session* or email us at: [email protected]

GCI UNIT Worldwide Group
Level 33, Ilham Tower, 8 Jalan Binjai,
Kuala Lumpur 50450, Malaysia
www.citizenship-news.com
Telephone: +66 99091 8357 also for WhatsApp

**The contents of this website have been researched to the best of our knowledge and belief and provide a general overview based on data collected by an AI or taken from official statistics on the Internet, as well as our own experiences and those of our customers. Please do not blindly rely on this information, but form your own opinion. Advice from us does not constitute legal advice, financial advice, tax advice or investment advice. We assume no liability for the accuracy and completeness of the information provided.**