Foreign Exchange

Foreign Exchange in North Cyprus

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.

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