International Business Companies have at least two shareholders. The minimum number of directors of an International Business Company is one. There is no requirement for the nationality of the director. The particulars of International Business Companies are as follows;
International Business Companies Corporation Tax is 1 % on net profit. In order to be able to qualify itself as International Business Company due to tax reasons the operations of the company must be conducted outside the TRNC.
Personnel working in these businesses are not subject to the Foreign Exchange Laws of the Turkish Republic of Northern Cyprus and there is no restriction on money transfer.
It is ensured that the name of the true shareholders of international businesses (offshore) is kept confidential. The information provided to the Ministry responsible for the economy regarding the company and its real shareholders remains completely confidential.