CYPRUS, the third largest island in the Mediterranean, was conquered by the Ottoman Empire in 1571. The island went under the control of the British in 1878, and based on the Lausanne Peace Treaty signed in 1923, Great Britain annexed it. The marginalization of the Turkish nation on the island where Turks and Greeks lived together caused many issues. Turkish Cypriots were dismissed from the Cyprus Republic by force in December 1963, three years after the proclamation of the Cyprus Republic that they founded in 1960 with the Greek nation. However, they refused the Greek domination. Using their self-determination right as a separate nation on the island, Turkish Cypriots finally founded the Turkish Republic of Northern Cyprus on

15 November 1983 following a General Committee in 1964, the Temporary Turkish Cypriot Administration in 1967, the Autonomous Turkish Cypriot Administration in 1974, and the Cyprus Turkish Federal State in 1975 after the Cyprus Peace Operation. Forty years ago, the Turkish Cypriots crowned their fight for independence by establishing a state. Adopting an approach that avoids discrimination between the nations, resistance against imperialism and racism, peace, stability and respect for human rights stand out among the critical articles underlined during TRNC’s proclamation.

TRNC’s demand is to be recognized as the advocate of an order based on peace, liberty and human rights in Cyprus, the East Mediterranean and the entire world.

TOURISTS FROM ALL REGIONS

The Turkish Republic of Northern Cyprus is regarded as a holiday paradise with an excellent combination of history, nature, culture and entertainment. Following Turkish citizens, TRNC is mainly visited by the citizens of Russia, Iran, Germany and the United Kingdom. The following are only a few reasons to discover TRNC:

Historic treasures: TRNC hosted different civilizations throughout history. Landmark locations such as the ancient port in Girne, Bellapais Monastery, St. Hilarion Castle and Maraş area offer their visitors the opportunity to discover an enchanting past. 

Nature:  The island enchants the visitors with its superb coastlines, mountainous views and diverse flora. Spa towns and clear waters of the Mediterranean Sea offer ideal environments for nature lovers.

Gastronomy: A unique gastronomic delight stands out with the combination of Turkish, Greek and Middle Eastern influences. The traditional Cyprus mezes, seafood and dishes prepared with fresh produce offer a delicious experience for gastronomy fans. Chicken dolama, kolakas, pirohu and çiçek dolması (an edible flower filling) are only some of them.

Handicraft: The handicraft markets and workshops in Lefkoşa are ideal venues to find works of traditional handicrafts. One can return with unique souvenirs such as ceramics, rugs and glassware.

Entertainment venues: Visitors can enjoy themselves at the cafes and entertainment venues in cities like Girne and Lefkoşa. Nights with traditional music, dance and fun are waiting for you.

OPPORTUNITIES TO INVESTORS

In addition to the advantages endowed by its strategic position, TRNC offers a convenient and fair business environment to domestic and foreign investors. Moreover, the island’s small but rapidly growing economy provides many economic favours to domestic and foreign investors.

The qualified and young workforce provided by numerous universities and educated population is another advantage TRNC offers investors. The investment discount rate in the investments under the Development Priority Region and Sectors with Particular Importance defined by the State Planning Organisation in line with the development plans is 200 per cent over the prime cost. On the other hand, the discount rate for investments in different sectors and regions is 100 per cent over the initial cost. These rates are applicable for Güzelyurt and Karpaz regions.

Economic indicators

GNP:

US$ 4 million 412 thousand 

GNP per capita:

US$ 14.682

Growth rate:

13.6%

Exports:

US$ 1.572 billion

Imports:

US$ 1.637 billion

Regions          Number of facility   Bed capacity

Girne   78        14.658

Gazimağusa     26        2.677

İskele   31        7.245

Lefkoşa           23        1.780

Güzelyurt        1          38

Lefke   5          174

 1.6 million tourists

This island, merely 70km from Türkiye, is strategically important for our country. In 2022, 1 million 230 thousand tourists visited TRNC, which is expected to reach

1 million 650 thousand in 2023.

IMPORTANT LINKS FOR INVESTORS 



Incentives and support

Scan the QR code to be informed on the incentives and support provided to the companies

investing in TRNC.

Investment advantages

Cyprus Turkish Investment Development Agency’s (YAGA) website https://yaga.gov.ct.tr provides information on the investment advantages TRNC offers.

Denktaş declared to the world

TRNC’s Founding President, Rauf Denktaş, uttered the following words forty years ago in the proclamation of the Republic: “As the translator of the Turkish Cypriot’s legal and irrefutable wish and will, we proclaim the foundation of the Turkish Republic of Northern Cyprus as an independent state before the world and history.”

We believe in a prosperous future

Ersin Tatar, President of TRNC, shared the following messages in his statement to Istanbul Commerce: “Along with the Republic of Türkiye celebrating its 100th anniversary of establishment, as TRNC, we are celebrating our 40th anniversary of foundation with pride and joy. These two noteworthy milestones signal the opportunity to reflect on the past and walk towards a powerful future together. The 100th anniversary of the Republic of Türkiye has been a great milestone. Our unity is not only defined by geographic borders but also it is reinforced by historical and cultural ties. Considering the 200th anniversary, we strengthen our belief in a step towards a more powerful and prosperous future in our blue homeland as the vigorous Republic of Türkiye and the strong foster-land TRNC. Two countries advocating world peace and struggling for peace will continue to be the architects of a peaceful environment that will assure a bright future. We are entering a stage where we will work determinedly to build a future where both countries will be more powerful together, to protect our common values and carry them further. This collaboration will contribute to our present state and future generations living in a more powerful world.”

UN persistent on not recognizing TRNC

The United Nations Security Council did not recognize TRNC’s independence. UN Security Council’s Resolution No.541 regards TRNC’s independence as legally invalid and considers TRNC part of the Republic of Cyprus. The number of countries that abstained from recognizing TRNC is 193. The countries recognizing the republic are as follows: Türkiye, Azerbaijan, Pakistan, Libya, Bangladesh, Gambia, Kosovo, Somalia, Syria, Oman and Yemen.