Economy & Business

The Registrar of Companies in North Cyprus: A Complete 2025 Guide Looking to start a business in Northern Cyprus? One of the first and most important steps is understanding the role of the Registrar of Companies . Whether you’re a foreign investor, a local entrepreneur, or simply researching how businesses operate in the TRNC, this guide breaks down everything you need to know — clearly and simply. __________________________________________________________ ❓What Is the Regist

The Story of Panama Home: A Dream 30 Years in the Making The Story of Panama Home: A Dream 30 Years in the Making Every business has a story, but some stories carry a special kind of warmth — the kind that comes from perseverance, passion, and a lifelong dream finally coming true. Panama Home, the newest home textiles and décor store in Esentepe, is one such story. At its heart is a woman named Emne Mutlu , born in 1973, whose life has been shaped by hard work, family values,

Why Every Business in North Cyprus Should Be on Google Maps and Have a Google Business Profile If you own a business in North Cyprus, there’s one free, powerful tool that can dramatically increase your visibility — Google Business Profile (GBP) , formerly known as Google My Business . Whether you run a café in Kyrenia, a hotel in Famagusta, or a trades service in Nicosia, being listed on Google Maps  ensures both locals and visitors can easily find you. ______________________

Why Every Business in North Cyprus Needs a Website In the fast-moving world of digital marketing, your online presence  is the modern-day shopfront of your business. For many businesses in North Cyprus , social media platforms like Facebook  and Instagram  seem like enough — until they’re not. Relying solely on social media is like renting a shop: you don’t own the building, you can’t control the rent, and one day, it could close overnight. Your own website  gives you indepen

Central Bank of the Republic of Türkiye (CBRT)   cuts key one-week repo rate from 40.5% to 39.5% . 🏦  On 23 October 2025 , the Central Bank of the Republic of Türkiye (CBRT)  announced a 100-basis-point rate cut , bringing its key one-week repo rate down from 40.5% to 39.5% .The move was smaller than previous cuts earlier in the year, reflecting caution amid stubborn inflation and economic headwinds. According to Reuters, the CBRT signalled it was still focused on promoting

Fruit & Vegetables on Sales at a Local Market in North Cyprus Introduction Although the costs of living in Northern Cyprus have traditionally remained moderate compared with many European destinations, recent months show key signs of pressure when it comes to fresh fruit and vegetables. This article focuses exclusively on the local market in Northern Cyprus, drawing on the most recent surveys, news-reports and market observations to portray current pricing, trends, and what t

Minimum Wage Increased by 17.79% in North Cyprus The Minimum Wage in North Cyprus is set by the Minimum Wage Determination Commission and usually reviews the minimum wage twice a year. At its most recent meeting the minimum wage was increased 17.79%, which is in line with the most recently announced subsistence level. The new minimum wage is now: Monthly 51,202 Weekly 11815.84 Daily 2363.16 Hourly 295.39

If you're visiting or relocating to Northern Cyprus, one of the first practical questions you'll ask is: Where should I exchange my money for the best rate? Here’s everything you need to know to make sure you’re getting good value on currency exchange . 💱 What Currency Is Used in Northern Cyprus? The official currency is the Turkish Lira (TRY) .However, euros, pounds, and US dollars  are widely accepted in tourist areas, property markets, and by many businesses. Still, for d

📈 April 2025 (Flat‑rate residential tariff) 0–250 kWh: 4.804 TL/kWh  (~€0.109) 251–500 kWh: 9.912 TL  (~€0.225) 501–750 kWh: 10.657 TL  (~€0.242) 751–1000 kWh: 11.552 TL  (~€0.262) Over 1000 kWh: 13.807 TL  (~€0.314) Plus, a fixed monthly service charge of approximately 79 TL  (~€1.80) Comparison with Republic of Cyprus & EU In the Republic of Cyprus, household electricity costs about €0.325/kWh  (as of mid‑2024) Northern Cyprus is generally slightly cheaper , but the gap h

North Cyprus Cost of Living The Statistical Institute reported that the Consumer Price Index (CPI) increased by 1.42% in June 2025 compared to the previous month. The six-month increase in the cost of living was 17.79% , and the annual increase of the index was 35.78% compared to June 2024. Trends by main expenditure groups The highest monthly increase was recorded in the category "Restaurants and Hotels" — 8.14% . Changes in other categories: Clothing and Footwear —

Opening a new bank in Northern Cyprus (TRNC) Establishing a bank in the Turkish Republic of Northern Cyprus (TRNC) is governed by the Banking Law  and overseen by the Central Bank of the TRNC . The process involves several key requirements and steps: 🏦 Key Requirements to Open a Bank in Northern Cyprus Legal Structure The bank must be established as a public limited company  under the TRNC Companies Law. The company's name must clearly indicate that it will operate as a bank

Why North Cyprus Should Offer Long-Stay Packages for Retirees and Digital Nomads 1. Economic Impact with Low Infrastructure Strain Retirees and digital nomads spend money locally and consistently —on rent, food, transportation, entertainment, and services—without burdening public infrastructure like schools or healthcare (as short-term tourists might). They are high-value visitors who: Stay longer (1–6+ months) Spend steadily, not seasonally Prefer local businesses over resor

Cost of Living Guide for North Cyprus North Cyprus has long been a popular destination for holidaymakers, retirees, and expats thanks to its natural beauty, slower pace of life, and comparatively low cost of living. But what does it really cost to live here in 2025? Whether you're planning a short stay or a permanent move, here’s a practical breakdown of what to expect. 🏠 Housing & Rent Accommodation is one of the biggest factors when calculating monthly expenses. Here's wha

Dima has continued its expansion operations and opened a new store in the Esentepe area. Situated opposite the entrance to Turtle Bay, the store allows local residents to stock up on groceries and many non-food items without having to go into Girne or Lefkosa. Congratulations to Dima on their new store. Dima Esentepe

Iskele Coastline in North Cyprus Executive Summary Iskele, North Cyprus, has emerged as a premier destination for investors, retirees, and tourists due to its stunning coastline, rapid development, and strategic location. Rebranding Iskele as "The Iskele Riviera" would enhance its appeal, positioning it alongside other world-class Mediterranean destinations. This white paper outlines the benefits, strategies, and key considerations for successfully executing this rebranding

Executive Summary North Cyprus faces a range of monetary challenges stemming from its limited recognition, reliance on foreign currencies (primarily the Turkish lira), and restricted access to global financial systems. A Central Bank Digital Currency (CBDC) could offer a strategic tool to enhance monetary sovereignty, boost financial inclusion, modernize the payments system, and increase economic resilience. This white paper outlines the potential benefits, considerations, an

Executive Summary In an age of constant digital stimulation and increasing urban noise, writers and artists are actively seeking serene, affordable, and inspiring places to focus and create. North Cyprus, with its Mediterranean charm, cultural depth, and unspoiled landscapes, offers the perfect backdrop for artistic retreats. This paper explores the reasons North Cyprus is uniquely positioned to become a leading hub for creative residencies and individual artistic escape. Int

Turkey supplies electricity to Northern Cyprus primarily through undersea electricity cables , a major infrastructure project aimed at enhancing energy security and reducing dependency on expensive and polluting diesel-powered generation on the island. Key Details: Undersea Cable Project : A submarine power cable  is being developed between mainland Türkiye and Northern Cyprus. The cable will transmit high-voltage direct current (HVDC) , which is more efficient over long dist

Executive Summary As the global workforce becomes increasingly location-independent, destinations that offer a blend of infrastructure, lifestyle, and affordability are emerging as digital nomad hubs. North Cyprus—blessed with natural beauty, strategic location, and low living costs—is uniquely positioned to benefit from this trend. This white paper outlines the key advantages North Cyprus offers to digital nomads and highlights how businesses, governments, and communities ca

Introduction North Cyprus, officially known as the Turkish Republic of Northern Cyprus (TRNC), has long faced political and economic challenges due to its lack of international recognition. As global perception plays a crucial role in tourism, investment, and diplomacy, a strategic rebranding of its name to "Kıbrıs"—the Turkish name for Cyprus—could provide significant benefits in multiple areas. This paper outlines the advantages of adopting the name "Kıbrıs" and explores ho