In  2005, the new International Business Company (IBC) laws have replaced the Off-shore laws which have enabled us to use TRNC as a base for international compaies. Some advantages of these IBS’s are as follows:

• 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.