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INVEST IN NORTHERN CYPRUS
invest in future
Derviş Besimler
Director
12nd April 2012 GİRNE, TRNC
TRNC PRIME MINISTRY
Agenda
Investment Climate
Benchmarking Data
Institution: YAGA
Investment Opportunities
Why TRNC ?
Investment Climate BENCHMARKING DATA
“GUIDING YOU”
www.investinnorthcyprus.org Source:Eurostat, TRNC -SPO
Growth Rate in EU Countries, Arab World and Northern Cyprus (%) (2003-2011)
5.98
5.104.94
1.24 1.34
3.81
3.42
2.50
1.71 1.81
4.52
3.74
0.80
1.32
0.00
1.00
2.00
3.00
4.00
5.00
6.00
TRNC
Ara
b W
orld
Turke
y
Ger
man
yUK
Bulga
ria
Cze
ch R
epub
lic
Sou
ther
n Cyp
rus
Spa
in
Mal
ta
Polan
d
Rom
ania
Gre
ece
EU 2
7
www.investinnorthcyprus.org Source:Eurostat, YAGA
Corporate Income Tax Comparison on Selected Economies (2011)
23.5
30
30
28
30
25
26
25
25
26.3
25
28
33.3
33
35
27.5
0 5 10 15 20 25 30 35
TRNC
Jordan
Morocco
Syria
Tunisia
Austria
Finland
Portugal
Denmark
Sw eden
Netherlands
United Kingdom
France
Belgium
Malta
Italy
0
5,000
10,000
15,000
20,000
25,000
30,000
North
ern C
ypru
s
Jord
an
Leba
non
Syr
ia
Alban
ia
Aze
rbaijan
Bulga
ria
Cro
atia
Sou
ther
n Cyp
rus
Gre
ece
Mac
edon
ia
Malta
Mon
tene
gro
Rom
ania
Turke
yUK
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
Total
Tourism
Visits in
000's
Tourism
Visits per
1000
Population
www.investinnorthcyprus.org Source: National Statistical Offices, TRNC-SPO
Tourism Visits (total and visits per ‘000 population 2010)
Tourism visits to TRNC, while low in absolute
number are among the highest relative to the
total population.
Source: ILOLaborstats, USAID, Eurostat, Croatia, Greek
Cyprus, and Albania figures are for 2005, TRNC-SPO
Among the less developed states, TRNC has high labour costs but still far
from developed economies and even Southern Cyprus.
www.investinnorthcyprus.org
Avarage Labour Cost (US$/per hour)
4.50
2.69 1.70 2.521.37
2.19
7.23
16.48
3.16 2.58
32.36
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
TRNC
Leba
non
Jord
an
Alban
ia
Aze
rbaija
n
Bulga
ria
Cro
atia
Sou
ther
n Cyp
rus
Mac
edon
ia
Rom
ania
UK
120
400
314 296 296226
462388 351
460
2236
0
500
1000
1500
2000
2500
TRNC
Leba
non
Alban
ia
Bulga
ria
Cro
atia
Sou
ther
n Cyp
rus
Gre
ece
Mon
tene
gro
Rom
ania
Turke
yUK
Source: Colliers International, TRNC-SPO
TRNC has the lowest level of office
costs of the benchmark locations.
www.investinnorthcyprus.org
Office Space Cost (USD per m2 per annum)
Source: Eurostat, National Investment Promotion Agencies, TRNC-SPO
The rate of VAT applied is slightly above
the average of the benchmark locations
www.investinnorthcyprus.org
VAT Rates on Standard Goods and Services (%)
16 16
10
18
10
20 20
18
20
23
15
16
18 18
24
1820
0
5
10
15
20
25
TRNC
Jord
an
Leba
non
Tunisia
Egy
pt
Mor
occo
Alban
ia
Aze
rbaija
n
Bulga
ria
Cro
atia
Sou
ther
n Cyp
rus
Gre
ece
Mac
edon
ia
Mal
ta
Rom
ania
Turke
yUK
Investment Climate “YAGA”
TRNC Prime Ministry
Cyprus Turkish Investment Development Agency
provides an extensive range of services to investors before, during and after with one-stop-shop approach in full confidentiality and free of charge
supports the investors in all their administrative processes dealing with bureaucracy such as obtaining licenses and starting a business
provides relevant information and consultancy on legal framework, investment climate, sector specific information and incentives to help investors take advantage of investment opportunities
... www.investinnorthcyprus.org
YAGA – Investment promoter, facilitator
...
acts as a facilitator in the provision of state land and investment incentives
conducts studies and provide recommendations and advocacy for improving the investment climate
carries out both local and international promotion activities with an objective of attracting Local and Foreign Direct Investments
directly linked with and reports to the Prime Minister
www.investinnorthcyprus.org
National Treatment to all global investors
No limitations on transferring proceeds
Access to Real Estate and protection of
property rights
Welcoming and supportive government
policy for investment
www.investinnorthcyprus.org
Legal Framework of FDI in Turkish
Republic of Northern Cyprus
Investment
Opportunities
Special Interest Tourism Investment
Health Tourism (including high standart Care Centres)
Conference Tourism Investments
Marina Investment
Agri-industry
Alternative Energy
Higher Education Investment
www.investinnorthcyprus.org
Investment Opportunities
“All investments are welcome”
Water Pipeline Project from Turkey
L-Organized Industrial Zone for Local and
Foreign Enterprises
TRNC Free Zones Project
Electricity Interconnectivity Project from Turkey
Extension of Bafra Tourism Project
www.investinnorthcyprus.org
Major State Project
Marina & Cruise Ship Wharf Investment
Yacht Building Investment
5 Star Hotel Investment
Special Interest Tourism Investment
High standart Touristic Care Centres
Techno Park Investments
Alternative Energy Investment
www.investinnorthcyprus.org
2012 Investment Areas
“All investments are welcome”
Why TRNC?
In Summary: Turkish Republic of
Northern Cyprus
www.investinnorthcyprus.org
In Summary: Turkish Republic
Northern Cyprus
www.investinnorthcyprus.org
In Summary: Turkish Republic of
Northern Cyprus
www.investinnorthcyprus.org
www.investinnorthcyprus.org Source:TRNC-SPO
Number of Tourists & Net Tourism Revenues
179
470
288
599
329
653
302
716
381
791
383
809
390
800
406
902
511
1022
0
200
400
600
800
1000
1200
2003 2004 2005 2006 2007 2008 2009 2010 2011
Net Tourism Revenues
(Million $)
Number of Tourists
(Thousand)
www.investinnorthcyprus.org Source:TRNC-SPO
Higher Education (Number of Students)
0
10,000
20,000
30,000
40,000
50,000
Nu
mb
er
of
Stu
den
ts
2007-2008 2008-2009 2009-2010 2010-2011 2011-2012
Education Terms
Thank you for your
time...
www.investinnorthcyprus.org
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