One of our area of expertise is Free Port Zone Companies. The Free Port Zone Company, which has recently been the focus of attention of internet, advertising and software companies, is established in Famagusta.
Requirements of setting up such company is pretty much the same as local company’s.
The operations of companies operating in the Free Port zone are subject to certain exemptions: Unless they export their services to the TRNC, their earnings are exempt from Income Tax and Corporate Tax.
In terms of duty to pay customs duty, it is outside the State customs line and is completely free of customs duty.