Advantages

IBC’s and their personnel are exempt from TRNC Tax regulations.
Profits and funds are easily transferred to anywhere in world.
IBC’s are taxed on a fixed rate(i.e.%1), after deducting the expenses, depreciation and amortisations.
Compared to its south american rivals, TRNC is not only in a better strategic location between Europe, Asia and Africa, but also because of the time-zone differences, transactions in different continents can be finalised on the same date.
IBC’s setup in TRNC have Tax Free advantages when purchasing their office equipment, consumer electronics and cars.
Any income that is generated outside TRNC borders are not subject to any VAT or Corporation Tax.
Nominee shareholders can be chosen for additional security and confidentiality purposes.
In TRNC local banks are quite safe and trustable, also there are 7 Branches of Turkish Banks. (HALK BANKASI,GARANTİ,HSBC,TEB,İŞBANK,İNGBANK,ZİRAAT BANKASI)
Setting up an IBC in TRNC is very easy and quick, and it will provide great tax benefis for those companies whose supplying a service over the internet and travel agencies.