Why choose Northern Cyprus for living and investments?

Northern Cyprus, a hidden paradise in the Mediterranean Sea, is attracting increasing attention from both travelers and investors. This unique place combines beautiful landscapes, ancient history, a mild  climate, and comfortable conditions for living and investing. What makes Northern Cyprus so attractive?

Cost of living in Northern Cyprus 

One of the main advantages of living in Northern Cyprus is the affordable cost of living. Northern Cyprus offers significantly lower prices for real estate,shopping ,food, services, purchasing a car, and entertainment compared to other European countries. A car in Northern Cyprus 2-3 times  less than in Turkey.

Even with an average income level, people can enjoy a comfortable life and save money. On average, one can expect to spend around 400-500 euro per month for two people, not including extra expenses such as medical treatment, car maintenance, or entertainment.

British law in Northern Cyprus

British law in Cyprus means that the same legal principles that you are familiar with from the United Kingdom are followed here. Such similarities with Western standards make the entire investment process, as well as the purchase and rental of real estate, more transparent and secure.

In Northern Cyprus, main language is English

Another advantage is the common use of the English language for communication in Northern Cyprus. Back on time Great Britain has big impact on Cyprus it self.

This facilitates the adaptation for foreigners and makes communication with the local population, doctors, teachers, and entrepreneurs easier and more effective. Almost every Turkish Cypriot speaks English fluently, so there are no communication problems. In addition, education in schools and universities is conducted in English, which makes it accessible to foreign students. All government structures, ministries, and tax authorities also speak English, which makes your life easier.

Ercan New Airport in Northern Cyprus 

An advantage for those who choose Northern Cyprus for investment is the introduction of the new Ercan airport. This means that you can now fly directly to Iran, Russia, and the United Kingdom, opening up huge opportunities for business and travel. 

TCRS is one of the safest countries in the world

Cyprus is known for its safe crime environment. According to Interpol, the crime rate in this part of the island is on average 6 times lower than in Western Europe, which is known for its tough fight against lawbreakers and immediate deportation. Here, you can safely leave your bag on the beach and return after an hour, and all your belongings will still be in place. In addition, the social level of the population in Northern Cyprus is above average. All citizens are thoroughly checked upon entry into the country, and a deposit in a bank is required to obtain residency, which minimizes the influx of low-income population to the island. Crime in Cyprus is low, which makes it very attractive for people looking for a safe place to live and invest.

Low taxes in Cyprus

Another factor to consider is the low taxes in Northern Cyprus. The Cypriot tax regime is very favorable for residents, as well as for entrepreneurs and investors. This can significantly increase your income and save you a lot of money. The low tax rates and the possibility of using installment plans when purchasing property make this region even more attractive for those who are starting their business or planning to invest in real estate. Even students can afford to buy their own homes with the help of favorable and affordable installment plans.

In Northern Cyprus, there is a simple legal system: both individuals and offshore companies, residents and non-residents, pay a small amount of taxes. Here, you will not find a large number of Syrian refugees, as in some other European countries. This makes the region particularly attractive for Europeans and foreign investors.

Real Estate Investments in Northern Cyprus

Northern Cyprus is attractive for real estate investments. Here, you can earn high rental income (up to 7-12 percent per year), and quick return on investment makes such investments even more attractive. The island is actively developing, with new transportation hubs, shopping centers, and educational institutions emerging. Over the past 5 years, Cyprus has undergone significant changes and has become similar to a metropolis. Large investments from Turkey, England, and Germany show that the island is a promising place for the development of a wide range of industries. The banking sector is actively developing, and new multi currency banks are appearing.

Alternative energy sources also play a significant role in international investment. Huge solar battery projects fully provide the island with electricity and attract major players from around the world. Over the past 3 years, property prices in Northern Cyprus have increased by 79 percent. Such capital growth is unmatched anywhere in Europe.

Medicine and Education in Northern Cyprus

Northern Cyprus can also boast of good medical facilities and a high level of education. Here you will find modern medical institutions and highly qualified doctors. Additionally, education in universities is more accessible and affordable compared to other European countries. Educational institutions have close ties with universities in England, Germany, France, Poland, and other countries. For example, after a couple of years of studying in Northern Cyprus, your child will be able to transfer to a top university in the UK and receive prestigious education.

All universities in Northern Cyprus are accredited by the Ministry of Education in Turkey and recognized worldwide. There are over 10 universities on the island. Higher education institutions in Northern Cyprus offer education in English and Turkish languages. In order to attract and increase the number of students from other countries, universities offer 50% grants, discounts for families with 2 or more students, grants for athletes, and winners of international and local competitions. This can be particularly attractive for families with children who want to receive quality education at more affordable prices.

Modern 4.5G Connectivity

Another advantage is access to modern 4.5G connectivity. In September 2023, the Minister of Public Works and Transportation, Erhan Arikli, announced that TRNC is transitioning to 4.5G. According to the minister, this project will contribute 1 billion 250 million Turkish lira to the country’s treasury. Northern Cyprus is implementing advanced communication and internet technologies, making it one of the most advanced regions in this regard.

Ecology and Nature of Cyprus

Studies on ecological efficiency have shown excellent air quality and water cleanliness in Northern Cyprus. The use of alternative energy sources, such as solar panels, is widespread, justified by the local climate with a significant number of sunny days, and is a big advantage for the island’s ecology. The cleanest beaches with fine white sand, recognized by Forbes magazine, a large number of eco-products, low levels of harmful emissions, and the absence of large plants and factories ensure the cleanliness of the environment and the health of the population.

Ideal for retirement

The island is ideal for retirees. Here, you can enjoy a peaceful and safe environment, picturesque nature, a warm climate, proximity to the sea, and a high standard of living and healthcare. The presence of Russian and English-speaking doctors makes medical assistance accessible to foreign residents. The climate on the island is moderate, with temperatures around +10-15 degrees in winter.

Convenience of Payments in Northern Cyprus

In Northern Cyprus, it is possible to use cryptocurrency or cash for property payments. The isolation of Northern Cyprus in the banking sector allows clients to keep their financial account information private. This frees you from having to prove the origin of your funds when purchasing property and enables transactions to be conducted quickly and efficiently. The island has a developed electronic payment system, and the transition to new communication technologies gives the island enormous potential for development.

Credits for Foreigners in Northern Cyprus

Unlike other foreign countries for investment, Northern Cyprus allows foreigners to obtain a loan to purchase property. The construction company makes concessions for the buyer, and the investor can pay the full amount of the property in installments at each stage of construction. Foreigners can expect a loan period of up to 5 years when buying property in Cyprus, without the need for a residence permit or Cypriot citizenship.

Which Area Of Northern Cyprus Is The Best To Live In?

The most popular resort cities on the island are Kyrenia and Famagusta.

Here are the top locations in Northern Cyprus according to our agency, UInvest Group:

• Iskele (Famagusta) offers beautiful beaches with fine white sand, numerous cultural attractions, and a rich history. The area is known for its beautiful medieval castle, Othello, the ruins of the ancient city of Salamis, and the ghost town of Famagusta with its ancient fortress and Baroque-style churches. Buildings dating back to the 12th century have been transformed into interesting museums that are worth a visit. It is a popular destination for tourists and locals.
• Lefkosa (Northern Nicosia) is the capital of Northern Cyprus. The area is rich in history, and its historic center is a mixture of Byzantine, Gothic, and Ottoman architecture. The city is home to numerous markets and outlets, and hidden within the city is the old quarter of the Ottoman Empire, Buyuk Han Bazaar.
• Kyrenia is a charming resort on the coast of Cyprus. The area is known for its beautiful beaches, picturesque harbor, and old town. Kyrenia has many historical attractions, including Kyrenia Castle, the old Venetian port structure, and Bellapais Abbey. Kyrenia is a city that never sleeps, with its unlimited number of casinos and clubs for nightlife enthusiasts. It is also home to many educational institutions, with Girne American University being the most popular.
• Esentepe is located in northwestern Cyprus and is a popular place to live. The area is known for its beautiful beaches, mountains, and vineyards. The area is considered elite, and due to its location, almost every property project offers breathtaking sea views. Esentepe offers a calm and relaxed atmosphere, as well as all necessary amenities such as shops, restaurants, and medical facilities.
• Tatlisu is a new top location for investment in eastern Northern Cyprus. The area is known for its picturesque nature, clean sea, and quiet atmosphere. The presence of a large number of historical buildings under the protection of the European Union makes this location even more valuable and attractive. It is the perfect place for those seeking a peaceful and secluded life surrounded by nature.

All locations in Northern Cyprus are open and suitable for obtaining a residence permit.

If you are interested in obtaining a residence permit in Cyprus, you can seek consultation from Uinvest Group. Our specialists will guide you proficiently on all legal matters related to relocation and legalization.

By choosing Northern Cyprus for living and investments, you obtain multiple advantages – from British law and a new airport to low taxes, a mild climate, safety, healthcare, education, and the opportunity to earn income from real estate. Northern Cyprus is actively developing, and huge investments in various sectors make it one of the most promising places in the Mediterranean. Whether it be business or retirement, Northern Cyprus offers ideal conditions for living and investments.