how to open a company in north cyprus?

cypruschauffer


Joined: 26/09/2007
Posts: 234

Message Posted:
15/09/2009 07:26

what do you need to open a company here.

ataturk


Joined: 09/09/2008
Posts: 712

Message Posted:
15/09/2009 07:51

Nothing I have one for sale. its dormant and never been used you can do 99% of most trades in North Cyprus if you are interested give me a call 0533 8617172

tulik


Joined: 14/07/2009
Posts: 220

Message Posted:
15/09/2009 08:43

I think you need a TC partner to open company here, the share would be 51%.

TRNCVaughan


Joined: 27/04/2008
Posts: 4578

Message Posted:
15/09/2009 08:55

A TC partner is only needed if the business deals in construction or land/property.

millzer


Joined: 12/04/2007
Posts: 978

Message Posted:
15/09/2009 08:58

Vaughan, when you say land/property, is this only the development and selling of? What about if you owned on a communal site and owners wanted to set up a company to maintain their own site for non profit.



Just curious

TRNCVaughan


Joined: 27/04/2008
Posts: 4578

Message Posted:
15/09/2009 09:01

I believe it is land/property sales. Property maintenance would not come under that, I think.

yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
15/09/2009 10:10

What a load of nonsense again.

Stubs


Joined: 01/07/2008
Posts: 641

Message Posted:
15/09/2009 10:20

Cyprus chauffer



You dont need a TC partner that is a falicy. Many people have though purely and simply because they didnt have or were not prepared to invest the $100k.



Take the advice of a good accountant who will go through the various procedures with you.



Be aware of buying an existing company though. Even after your accountant goes through his due dilegence if the tax office decide that the company owed them money from before your tenure you have to pay, not the previous owner. It is much safer to start and establish your own company.

millzer


Joined: 12/04/2007
Posts: 978

Message Posted:
15/09/2009 10:53

Yorguzlu, can you tell us how it is then please?



Cheers

millzer


Joined: 12/04/2007
Posts: 978

Message Posted:
15/09/2009 10:56

Stubs can you recommend any good accountants over there, ones that actually KNOW what they are talking about and can give PROPER advise and not if's/buts

yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
15/09/2009 11:09

millzer;

Cant be bothered.

But the forum is not the place,thats for sure.

sienna


Joined: 09/01/2009
Posts: 1627

Message Posted:
15/09/2009 11:47

oh butt out yorgozlu take your issues elsewhere if you have nothign constructive to say dont say it

bellapasta


Joined: 12/03/2009
Posts: 99

Message Posted:
15/09/2009 12:47

hi cypruschauffer



u need a character certificate from your homeland before you start setting your company.

after u go to the company house in Nicosia to start your name search and get the forms. the companys setting value must be at least 100,000 USD worth of YTL which roughly we count as 150,000 TL. You have to get a bank guarantee for it, then you and your partners passports, the address that you are going to do your bussiness etc.. also a company document has to be prepared showing what bussinesses you can do with the company, name, you and your partners shares etc..

every accountant or solicitor would tell you that they prepared one specially for you but actually its the same document changed a little bit.

with all your documents and forms you filled, you go to the company house againg, pay your fee for the company which is about 1200 TL, and then you have to register the company to every government house..



if you need to ask anything else about it feel free

Cyprusraider


Joined: 08/04/2009
Posts: 99

Message Posted:
15/09/2009 13:56

Why bother?? Simply apply to act as a "Sole Trader"

millzer


Joined: 12/04/2007
Posts: 978

Message Posted:
15/09/2009 14:13

Cyprusraider that's the question I was thinking.



Can a foreigner just become 'self employed' in the TRNC? Surely you don't need to have 100,000 dollars to weed someone's garden or clean their pool!!

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
15/09/2009 14:23

My company is a registered Trade Name. If you have a Limited Company you have to employ an accountant to submit your accounts to the tax office and they have to obey intructions from the tax man. Membership of Turkish Cypriot Chamber of Commerce as a Trade Name is cheaper that a Limited company which is another bonus. You must be a member of the chamber before you can have an importers license.

ismet

http://www.elkocyprus.com

ladylittle


Joined: 09/03/2008
Posts: 498

Message Posted:
15/09/2009 14:26

Cyprus raider, dont think a foreinger can open a small business, may be wrong, be glad if I was....

bellapasta


Joined: 12/03/2009
Posts: 99

Message Posted:
15/09/2009 16:25

cyprus raider, surely you can't open a small bussiness...

in TRNC you can only open a small bussiness if u r turkish cypriot. otherwise you have to have a company and this rule is the same for turkish people as well.

the main idea underneath this law is to protect Cypriot Turkish people who don't have as much money as the foreign investors have. this may sound wrong to you but nearly in all non-eu countries its the same

yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
15/09/2009 16:54

It looks like no one wants to work for others in lovely,sunny Cyprus for 1000 tl a month!!

Stubs


Joined: 01/07/2008
Posts: 641

Message Posted:
16/09/2009 01:23

Millzer



Ive sent you an email off board

ladylittle


Joined: 09/03/2008
Posts: 498

Message Posted:
16/09/2009 14:33

Stubs, would be very interested if you had any advise re this topic x

millzer


Joined: 12/04/2007
Posts: 978

Message Posted:
16/09/2009 15:32

Stubs, thank you.

Stubs


Joined: 01/07/2008
Posts: 641

Message Posted:
16/09/2009 16:41

Sarah



What would you like to know?

ladylittle


Joined: 09/03/2008
Posts: 498

Message Posted:
16/09/2009 18:05

The way to open a company without a foreign partner?? always thought it was near on impossible...

Stubs


Joined: 01/07/2008
Posts: 641

Message Posted:
16/09/2009 19:42

Sarah



Ive just emailed you off board.