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BACKGROUND
North Cyprus (TRNC) enjoys a typical Eastern Mediterranean
climate with long hot summers and short mild winters. The northern
coastline, which borders the Kyrenia (Girne) mountain range, is
accepted as one of the most beautiful areas in the world in which to
live and is also host to the Caretta-Caretta and Green variety of
turtles. The natural beauty of the island, the lovely climate, the
warmth and generosity of the Turkish Cypriot peoples and the
abundant selection of fresh foods make the TRNC an unspoilt and
non-commercialised haven. There is virtually no crime to speak of,
and this country is reminiscent of UK standards long lost, where
hospitality, politeness and the general enjoyment of life are the
daily norm.
Geography
The TRNC comprises an area of 3,355 square miles and encompasses the
northern part of the island of Cyprus, which is the third largest in
the Mediterranean. Nearly half of coast-line of the island is also
part of the TRNC. About 45% of the area is arable land, 20% of which
is irrigated. Nearly 20% of the North Cyprus total area is wooded
and there are extensive re-forestation programes in progress. It is
situated at the crossroads of east-west and north-south navigational
routes, being only 70 kilometres south of Turkey and 385 kilometres
north of Egypt. Owing to the location of Northern Cyprus and its
proximity to the rich Middle Eastern countries, it provides an ideal
place for foreign investment.
Climate
The climate of North Cyprus is typically Mediterranean with long dry
summers and short, rainy winters. The average annual temperature is
19ºC (66ºF). The temperature in midsummer can soar to over 40ºC
(105ºF) with the warmest sea temperature in the Mediterranean,
averaging 21ºC (75ºF) . The winter weather is very mild and there is
an average annual rainfall of 500 mm.
Emergency Telephone Numbers
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Fire
199
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Police 155
·
First
Aid 112
Major Towns
The capital of The TRNC is Nicosia (Lefkoþa), which has a population
of approximately 35,000, and enlompasses the main administration and
business centres. Other major towns include : Famagusta (Gazi
Magosa) which is a flourishing tourist, industrial and commercial
centre, as well as being the country's principle port, Kyrenia
(Girne) a town of touristic importance with a wonderful yacht
harbour. Town maps and local information can be obtained from the
Tourism offices situated in all 3 Towns.
Language
Turkish is the official language and English is widely used and
understood in official and commercial circles. There are several
first-class Turkish language teachers available, and some British
residents avail themselves of their services.
Time
Local time is two hours ahead of Greenwich Mean Time (GMT).
Household items and Services
Most electrical household items can be bought in the contact
comparable prices to Europe and most well known international makes
and models are available including (Whirlpool, Kelvinator, Candy,
Philips, Pioneer, Panasonic, Siemens, Arthur Martin, Bosch, Tefal,
Beko, Sony etc).
Running costs
Living costs in the TRNC are much cheaper than the UK and most of
Europe. There is no official rates system at present, or community
tax. The main costs are electricity which costs 106.045 Turkish Lira
per KW which is the equivalent of 4 pence per KW. (approx. £ 15
monthly per house), water costs 5,500,000 Turkish Lira + 13% VAT for
0-20 Tons of water per month which is the equivalent of £2 for 0-20
tons of water per month and an annual council tax is less than £ 40
(£2.90 per month which includes waste collection, pavement and road
cleaning, etc.). Central heating is rare in North Cyprus but is
usually run on either LPG or oil. Most cookers are run on gas
canisters and//or electricity (1 gas canister costs approx. £6 and
lasts as long as 2/3 months).
Banks
& Currency
All types of banking services are provided and they are flexible
enough to satisfy the continually diversifying needs of the business
community. There are branches in many of the important trading
centres of the world. Numerous Turkish and Turkish Cypriot banks
(HSBC Bank has now opened branches in Nicosia and Kyrenia) operate
and they are open from Monday to Friday (except public holidays)
between 08.00-12.00/14.00-16.00 hours in the summer months (winter
times may vary). The New Turkish (YTL) lira is used as the local
currency. There is no restriction for the import of foreign currency
into Northern Cyprus, however, the export of currency is restricted
to 8000 US-dollars, or the equivalent in other currencies.
Exchanging all the currencies in banks, exchange offices and in
hotels at a government rate (which is set daily) is possible. Visa
cards, credit cards, master and euro cards, eurocheques, travellers
cheques, Sterling and Euros are widely accepted.
Consumer Market
There is a wide selection of consumer goods of good quality. In
addition to locally produced goods almost all foreign brands are
available on the market. It can be estimated that the cost of
foodstuffs generally is about half or even less than UK prices.
Items such as local brandy retail at around £1.20 sterling per
bottle. A loaf of bread (weighing 300 gr.) at £0.23, 1 Ltr of long
life UHT milk at £0,39, a pack of 20 B & H cigarettes at £0,69, etc.
Mains
Services
Mains
power is 220/240 volts AC. (British Standard 3 pin plugs are used)
Water is by mains supply and in some properties supplemented by
wells.The International telephone system plus facsimile and internet
facilities and widely available.
Traffic
As in the UK, traffic circulation is on the left. Road signs are
international. And the Speed Limit is 60 MPH.
Employment
There is no acute unemployment problem in the TRNC, and the number
of registered unemployed has declined steadily since 1978. The
official working week is 40 hours in the winter and 36 in the
summer. Foreigners must obtain a Government work permit if you
intend to work on the TRNC Economy.
Foreign Exchange
The TRNC follows a flexible exchange policy. Foreign currency
accounts can be opened with local banks, and foreign currency can be
brought into the country and taken out through the banks without any
restriction or control, and the source of such income is not
investigated. It should be noted that the Government are actively
encouraging the formation of offshore banks by foreign investors,
and are offering incentives such as relatively low set-up capital,
low Corporation and income tax etc.
Transportation
Visitors can travel to the TRNC by air or by sea. Ercan State
Airport is 7 miles (12 km) east of Nicosia (Lefkoþa) , which
operates flights by Cyprus Turkish Airlines (CTA) and Turkish
Airlines. There are several ferry-boat companies operating between
the ports of Kyrenia (Girne) and Famagusta (Gazi Magosa) in Northern
Cyprus and, the ports of Mersin and Antalya in Southern Turkey. For
local transportation, apart from taxis and private hire cars, there
are daily bus services between the major towns. Ercan airport
handles the bulk of the tourist traffic, whilst Gecitkale in the
North East serves as a back-up airport. Daily flights from many
mainland Turkish cities, as well as
flights from Europe, supply the majority of the visitors to the
island.
Pets
Pets can be brought into the country from Europe with little hassle.
The Ministry of Agriculture requires a certificate from a European
vet stating that your animal is free of major diseases. Quarantine
is approximately 4 weeks at the Nicosia (Lefkosa) kennels. Contact
Margaret Ray, Chairperson of Kyrenia Animal Rescue (KAR) for any
questions relating to your pets. (Tel: 0392 81 53 390-e-mail:
kar@kyreniaanimalrescue.org)
Accommodation
Northern Cyprus is tourist oriented and has a large selection of
accommodation units, from 5-star hotels, small family hotels,
motels, pensions, self-catering villas, and apartments and camping
facilities.
Tourism
The unique climate of The TRNC offers year-round opportunities for a
perfect holiday. Rainfall is concentrated in December and January,
and the average sea temperature is above 20 ºC for more than half
the year. Northern Cyprus is renowned for its wild flowers which
carpet the island in spring (there are more than 38 species of
orchid alone) and the scent of orange, lemon and grapefruit blossom
fills the air. The coastline of North Cyprus offers some of the
finest and safest bathing areas in the Mediterranean. Although most
holiday establishments have modern pools, the crystal clear waters
of the eastern Mediterranean are wonderful for swimming,
snorkelling, sailing and water-skiing. Most of the holiday complexes
are situated near the picturesque ancient port of Kyrenia (Girne) on
the north coast, or Famagusta (Gazimagosa) in the south coast. The
narrow fertile northern coastal strip is backed by the spectacular
Besparmak Mountains - also known as the Girne range, studded with
its medieval castles and fortresses. The rugged slopes are covered
with Aleppo pines, olives and carob trees, with small villages
nestling in the hillsides. Nearer the coast, most activity is
concentrated along the coast road. A legacy from the British
colonial days means that traffic drives on the left and since most
hotels can assist in car hire, travelling around is no problem.
Inland, behind the rocky Girne range and the imposing Five Finger
Mountain, stretches the huge fertile Mesaoria plain, Ercan airport
and the island's capital, Nicosia (Lefkosa). Along the east coast
lie the ancient fortified city of Famagusta (Gazimagosa) and the
nearby ruins of Salamis. To the north east, the landscape becomes
more broken and open fields give way to small pastures enclosed by
stone walls and interspersed with olive trees and rocky outcrops.
The beaches here are a blend of rock pools and sheltered sandy bays.
The exotic cuisine of Cyprus reflects its history and maritime
associations. Turkish Cypriot cooking is a fascinating blend of East
and West. Breakfast consists of luscious fruits, especially locally
grown melons, various local breads with cheese or jams and a
selection of eggs and local sausage. Traditionally, home-made
yoghurt is served with delicious local honey and if you want coffee,
then remember to ask for "Nescafe" - the local term for western
coffee with milk. "Kahve" means Turkish coffee: thimblefuls of that
wonderfully powerful brew that is a speciality of the Near East.
Evening meals begin with a sumptuous "meze" - horsd'oeuvres
consisting of as a many as 20 small dishes -before the main course.
Raki, aniseed spirit diluted with water is the traditional local
accompaniment, but wine and beer are also readily available and
excellent value and quality. Turkish Cankaya white wine is
particularly recommended. The Turkish Cypriot people are renowned
for their generous hospitality and when out shopping or enjoying a
meal, you are made to feel particularly welcome.
Investment Procedure
With reference to the registration of a company, the legal form
widely used for business undertakings in the TRNC, both by foreign
investors and by local businessmen, is the private limited company.
The provisions concerning the limited company are set out in the
Company's Law, Cap 113, which is almost identical with the UK's
Company Act of 1948.
Permission is obtained from the Council of Ministers for foreign
ownership of TRNC registered companies, usually within two or three
months of application. The foreign ownership can be up to 49%, with
the main share holder(s) being of TRNC citizenship owning at least
51%. A business permit is also required, which may be obtained from
the Immigration Office.
Visas, Permits and Licenses
The TRNC is persuing a policy of encouraging foreigners to come and
live and work in the TRNC, in particular to invest in businesses,
especially within the tourism sector. This, of course, opens up a
multitude of trades and businesses, from travel agencies, transport
companies (whether land, sea or air), hotels, bars, restaurants,
holiday villages, tourist related services such as water sports,
recreational land sports including tennis, golf, horse riding etc.
If
you require any further local knowledge then please do not hesitate
to contact us.
Sincerely,
Cyprus Pines.
 
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