Tourism Investments and Property Investments in North Cyprus
Tourism developments are actively encouraged by both the local government and the government of Turkey and therefore many incentives, funding assistance and tax breaks are available.
- An Interest Free Loan is available from the government. A percentage of the total development cost can be borrowed from the development bank which has annual funds of 100 million dollars at its disposal to aid such projects.
- The loan can be repaid over a ten year period with an initial two year repayment deferral.
- All profits made by the tourist developments are VAT and tax exempt for a period of ten years.
- There are no restrictions on how much foreign currency can be brought into and removed from the country.