Legal and tax conditions in Northern Cyprus
Northern Cyprus is one of the countries that is very popular these days among people interested in emigrating from the country. The conditions governing this country have made its popularity increase to such an extent. Simple and facilitated conditions for obtaining a visa and staying in this country, very good average income, low cost of living, favorable situation in the labor market, etc. are factors that have made many people to migrate and continue living abroad, Cyprus make North as one of their main candidates. The favorable and stable economic situation in this country is one of the important reasons that have made many people decide to invest by buying property in North Cyprus or starting a company and business.
The economic situation of Northern Cyprus
The basis of the economy in North Cyprus is based on the free market system, which includes export, import and tourism industry. The agricultural sector is also one of the most prosperous sectors in the country’s economy, with products such as potatoes, barley, wheat and citrus fruits being its main products. The agricultural sector in this country has been able to bring good economic prosperity to this country through the export of these products to other countries. Industrial products, clothing, handicrafts and tobacco are other products that have a special place in the export sector and have caused economic prosperity in this country.
Another pillar of the economy in Northern Cyprus is based on imports. Foodstuffs, oil and chemical products are among the most important products that are imported into this country. The tourism industry is another economic pole of this country, which has played an essential and important role in the economic process of this country. In recent years, this industry has received a lot of attention from the government and officials of this country, and the development of this industry has led to a very good economic boom in Northern Cyprus.
The average annual income of each family in this country, based on estimates, is around 30 thousand dollars. In recent decades, we witnessed the economic crisis in this country, which caused the unemployment rate to grow significantly. But paying attention to the tourism industry and the agricultural sector made the economy of this country take a growing trend in recent years. Areas such as IT engineering, communications, electricity, international investments, etc. are among the most important areas that have been able to generate good income for this country in recent years.
Northern Cyprus is considered a growing and developing country in the world, and considering the advances we see in the scientific and technical fields, attracting skilled labor is one of its basic needs. This is why the government of this country has put the recruitment of skilled foreign workers on its agenda in recent years. People who have experience and expertise in the tourism industry can easily earn significant income in North Cyprus.
Tax system in Northern Cyprus
One of the main reasons why North Cyprus is so popular for immigration, especially for those looking to invest by buying property in North Cyprus, is its simple tax system. The tax system in Northern Cyprus is very attractive for immigrants and foreign investors. The gross salary of people in North Cyprus is generally lower than in many European countries, but because the income tax in North Cyprus is at the lowest level in the region and in Europe, the net salary of a person due to the low level of tax expenses and Also, the low level of living expenses, the income is very suitable and good.
The attractiveness of the tax system of Northern Cyprus is one of the main reasons for attracting foreign investors to this country, especially for investing in the tourism industry. The corporate tax rate in Northern Cyprus is one of the most competitive tax rates among the EU countries. The basic income tax rate in this country is 10%. In this country, supply of goods and services, demand for goods and services and imports are subject to value added tax, which has 6 rates of value added tax. The average value added tax rate in Northern Cyprus for eligible activities is 16%.
One of the important reasons that make a country a popular destination for people seeking immigration is the conditions and economic system that governs that country. To
این دلیل که بسیاری از افراد به دلیل شرایط اقتصادی نامناسب در کشور خود تصمیم به مهاجرت میگیرند. کشور قبرس شمالی در سالهای اخیر با تمرکز بر بخش کشاورزی و صادرات محصولات کشاورزی به سایر کشورها و همچنین توسعه صنعت توریسم و گردشگری توانسته است رشد اقتصادی خوبی را تجربه کند. همین رشد و رونق اقتصادی در کنار نظام مالیاتی ساده و بسیار مناسب باعث شده است که بسیاری از افراد برای کار و سرمایهگذاری این کشور را به عنوان مقصد اصلی انتخاب کنند. نرخ پایین مالیات بر درآمد و هزینههای پایین زندگی در این کشور باعث شده است که با کمترین درآمد ممکن بتوان از رفاه نسبی در قبرس شمالی برخوردار بود.