Legal, Government & Residency

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

Importing a car to North Cyprus involves several steps, from preparation in your home country to registration on the island. Here's a clear step-by-step outline of the process: Importing a car to North Cyprus 🚗 1. Check Eligibility Car age limit : Typically, only cars under 5 years old (from date of first registration) are allowed to be imported by private individuals. Driving side : Ensure the vehicle is right-hand drive (as traffic in North Cyprus drives on the left). 📄 2

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

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

Prime Minister Ünal Üstel has announced significant amendments to the residency system for foreigners. Key Changes Now in Effect: Prime Minister Ünal Üstel 1. 5-Year Residence Permit for Property Owners – No Income Requirement: Foreign nationals holding a title deed (proof of property ownership) will now be granted a five-year residence permit without the need to prove income equivalent to the minimum wage. 2. Extended Residence Permits for Contract Buyers: Foreigners who pr

Executive Summary The Turkish Republic of Northern Cyprus (TRNC) has functioned as a de facto independent state for over four decades. The United States, a global leader in advocating for democratic values and regional stability, should reassess its Cyprus policy and consider recognizing the TRNC. Recognition would not only validate political realities on the ground but would also serve American strategic interests in the Eastern Mediterranean, uphold democratic self-determin

Executive Summary This white paper proposes that the United Kingdom officially recognize the Turkish Republic of Northern Cyprus (TRNC) as an independent state. Recognition would not only bring diplomatic clarity to a long-standing geopolitical issue but would also benefit the UK strategically, economically, and morally. The failure of reunification efforts, ongoing embargoes harming ordinary Turkish Cypriots, and evolving global geopolitics demand a reassessment of the UK's

Introduction The longstanding division of Cyprus has created political, economic, and social challenges for both Greek Cypriots and Turkish Cypriots. While Greece has historically aligned itself with the Republic of Cyprus, recognizing the Turkish Republic of Northern Cyprus (TRNC) could offer substantial benefits. This paper outlines the strategic advantages of Greek recognition of North Cyprus, exploring economic growth, diplomatic opportunities, and regional stability. Eco

Executive Summary North Cyprus, with its unique geopolitical situation and limited access to global financial systems, faces challenges in trade, banking, and financial inclusion. A Central Bank Digital Currency (CBDC)  could provide a transformative opportunity—modernizing its financial system, enhancing transparency, and supporting sustainable economic growth. This white paper outlines the key benefits, potential use cases, and implementation considerations of introducing a

Year Inflation Rate (%) Notes 2015 7.67 Stable inflation amid moderate growth. 2016 7.78 Slight increase due to political uncertainty. 2017 11.14 Double-digit inflation returns after several years. 2018 16.33 Currency crisis leads to sharp price increases. 2019 15.18 Inflation remains high despite policy measures. 2020 12.28 Pandemic-related disruptions impact prices. 2021 19.60 Monetary easing contributes to rising inflation. 2022 72.31 Inflation surges amid currency depreci

Executive Summary North Cyprus is a hidden gem in the Mediterranean, offering pristine beaches, rich cultural heritage, and a warm climate. However, due to political complexities and limited global recognition, the region faces challenges in attracting international tourists. This white paper outlines strategic approaches to enhance North Cyprus tourism, leveraging digital marketing, infrastructure development, and sustainable tourism initiatives. 1. Strengthening Digital Pre

Embargoes on Northern Cyprus ❗ Why the Embargoes Exist The Turkish Republic of Northern Cyprus (TRNC)  is only recognized by Turkey . The rest of the world (including the UN and EU) recognizes the Republic of Cyprus  as the sole legal authority over the whole island. As a result, all official international trade, air travel, and diplomacy  must go through the Republic of Cyprus. The TRNC is considered occupied territory  by international law, following Turkey's 1974 military

1. Types of Elections Northern Cyprus holds regular democratic elections , including: Election Type Frequency Key Role Elected Presidential Every 5 years Head of state Parliamentary Every 5 years 50-member Republican Assembly Local Elections Every 4 years Mayors, municipal councils By-elections & Referendums As needed Specific issues or vacancies 2. Presidential Elections Voting System : Two-round system (if no candidate gets 50%+ in the first round, top two go to runoff). El

Benefits for Merchants in North Cyprus Who Accept Cryptocurrency 1. Access to a Global Market Cryptocurrencies bypass traditional banking restrictions , making it easier for merchants in an unrecognized territory like North Cyprus to engage in international commerce. Customers from abroad can pay without needing to convert to Turkish Lira or deal with intermediary banks. 2. Lower Transaction Fees Crypto transactions generally come with lower fees  than credit card processors

Executive Summary The Turkish Republic of Northern Cyprus (TRNC) has been under a long-standing sporting embargo that prevents its athletes and teams from participating in international competitions under their own flag. This white paper outlines the moral, political, and sporting reasons why the international community, particularly governing bodies such as FIFA, UEFA, and the International Olympic Committee, should reconsider this embargo. Lifting the ban would promote incl

The economy of Northern Cyprus is quite unique due to its international isolation , dependence on Turkey , and its semi-official status . Despite these challenges, it has developed a functioning economy driven by a few key sectors. GDP Composition of Northern Cyprus Here’s a breakdown of what makes up the GDP of Northern Cyprus : 💰 GDP Composition of Northern Cyprus While detailed and fully reliable economic data is hard to come by (due to its unrecognized status), the main

The recent U.S. tariffs could have significant economic effects for Turkey, affecting key sectors and potentially influencing the broader economy. ​ Impact on Key Export Sectors: Automotive Industry:  The U.S. has imposed a 25% duty on all automotive imports, directly impacting Turkey's auto sector, a major contributor to its exports. This tariff is expected to reduce the competitiveness of Turkish vehicles and parts in the U.S. market, potentially leading to decreased sales

The Turkish Republic of Northern Cyprus (TRNC) is a self-declared state that governs the northern part of the island of Cyprus. It is recognized only by Turkey , and its political and governmental systems reflect a parliamentary democracy, similar to many Western-style democratic systems, but with unique local features and limitations due to its international status. Here’s an overview of how the government works in Northern Cyprus: 🔸 Political Structure 1. Executive Branch

You may be surprised to know that the majority of expats in TRNC don't have a Will. Making a Will ensures all your belongings will go to who you decide. If you die intestate (i.e. without leaving a Will) your spouse won't automatically inherit your estate if there are surviving children. Under TRNC law, no Will means your spouse would get 1/6th of your estate  and the remaining 5/6th  would go to any surviving children . If there's no children, then other relatives will get a

Introduction The division of Cyprus since 1974 has resulted in a physical and psychological separation between the Greek Cypriot south and the Turkish Cypriot north. Currently, nine crossing points exist along the 180-kilometer ceasefire line, facilitating movement between the two communities. However, these crossings often experience congestion, highlighting the need for additional checkpoints. Expanding the number of border crossings between North and South Cyprus could yie