OFFSHORE COMPANY FORMATION

Offshore Company Formation in North Cyprus will take approximately 15 days under the law of Turkish Republic of North Cyprus. The following requirements are needed to be fulfilled in order to register an offshore company in North Cyprus.

• The company must be owned by a foreign person. At least %51 shares must be owned by a foreign person or must be a TRNC citizen who is living abroad.
• Cannot operate in Gambling and Banking industries.
• The minimum paid-up share capital is EUR 20,000.
• EUR 500 non-refundable registration fee.
• The operation fee to maintain an office in TRNC is EUR 2000. (If you want) Otherwise, you need to pay EUR 5000 of operation fee per year.
• The operation fee can be paid after 30 days of registration and at the end of each calendar year.

You will need to provide us following documents in order to form an offshore company

1. A list of company names that you would like to check at the registrar of companies. You need to suggest at least 5 names.

2. There need to be at least two company members. A minimum one Director, minimum one Secretary is required. A member can act as a director or secretary. Therefore, you need to provide full names of the members with their ID and a certified passport copy and recent utility of them.

3. Declaration from a person you will nominate as your Proxy.

4. Declaration from a person you will nominate as your Legal Representative.

5. A positive bank reference from your current bank.