If you wish to operate a business in TRNC, the following procedure must be adhered to:

With reference to the registration of a company, the legal form widely used for business undertakings in the TRNC, both by foreign investors and by local businessmen, is a private limited company. The provisions concerning the limited company are set out in the Company's Law, Cap 113, which is almost identical with the UK's Company Act of 1948.

If you want to form a limited company, then you instruct an accountant to make the necessary applications on your behalf to the Council of Ministers, outlining the trading intentions of the company, share capital, directors etc.  The foreign ownership can be up to 49%, with the main share holder(s) being of TRNC citizenship, owning at least 51%. A business permit is also required, which may be obtained from the Immigration Office. The temporary capital deposit requirement is currently $100,000.

A fully foreigner owned limited company may also be formed, though this is at a higher cost and can take longer. A further application has to be made to the Immigration Department for an annually renewable business or employment permit, which is given once the Council of Ministers has given their approval. You must also go through a medical examination. Finally, you register yourself and your company with Social Security for health insurance payments, the tax Authorities, and the provident fund. Once all this has been done, you may commence trading.