Climate
Typically Mediterranean with long dry summers and short, rainy winters. The average annual temperature is 19°C (66°F). The temperature in midsummer can soar over 40°C (105°F) with the warmest sea temperature in the Mediterranean, averaging 21°C (75°F). The winter months are very mild and there is an average annual rainfall of 500 mm.
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Geography
An area of 3,355 square miles encompasses the northern part of the island, which is the third largest in the Mediterranean. Nearly half of the coastline of the island is also part of the TRNC. About 45% of the area is arable land, 20% of which is irrigated. Nearly 20% of North Cyprus total area is wooded and there are extensive re-forestation programs in progress. It is situated at the cross-roads of east-west and north-south navigational routes, is only 70 kilometres south of Turkey and 385 kilometres north of Egypt. Owing to the location of Northern Cyprus and its proximity to the rich Middle Eastern countries, it provides an ideal place for foreign investment.
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Language
Turkish is the official language and English is widely used and understood in official and commercial circles. There are several first-class Turkish language teachers available, and some British residents avail themselves of their services.
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Time
Local time is two hours ahead of Greenwich Mean Time (GMT).
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Household items and Services
Most household items can be bought in North Cyprus at about the same price as Europe. Most international makes and models are available (Whirlpool, LG, Sony, Candy, Philips, Pioneer, Panasonic, Siemens, Bosch, Tefal, etc). Auctions are also held monthly where a vast array of items can be purchased at reasonable prices.
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Running costs
Living costs in the TRNC are much cheaper than the UK and most of Europe. There is no rates system at present, or community tax. The main costs are electricity which costs the equivalent of approximately 4 pence per KW. (approx. £ 10-40 monthly per house), water costs the equivalent of £2 + %13 VAT for 0-20 Tons of water per month and annual council tax is less than £ 40 per year (£2.90 per month which includes waste collection, pavement and road cleaning, etc.). Central heating is rare in North Cyprus but usually runs on gas or oil. Most cookers are run on gas canisters (1 gas canister costs approx. £5 and lasts as long as 2/3 months) and/or electricity.
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Banks & Currency
All types of banking services are provided in Northern Cyprus and they are flexible enough to satisfy the continually diversifying needs of the business community. There are branches in many of the important trading centres of the world. Numerous Turkish and Turkish Cypriot banks (HSBC Bank has now opened branches in Nicosia and Kyrenia in TRNC),operate and they are open from Monday to Friday (except public holidays) between 08.00-12.00/14.00-16.00 hours. Turkish lira is used as the local currency. There is no restriction for the import of foreign currency into Northern Cyprus. Exchanging all the currencies in banks, exchange offices and in hotels, is possible. Visa card, credit card, master and euro cards, eurocheques, travellers checks etc. can be used in place of cash.
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Foreign Exchange
The TRNC follows a flexible exchange policy. Foreign currency accounts can be opened with local banks, and foreign currency can be brought into the country and taken out through the banks without any restriction or control, and the source of such income is not investigated. It should be noted that the Government are actively encouraging the formation of offshore banks by foreign investors, and are offering incentives such as relatively low set-up capital, Low Corporation and income tax etc.
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Consumer Market
There is a wide selection of consumer goods of good quality in North Cyprus. In addition to locally produced goods almost all foreign brands are available on the market. It can be estimated that the cost of foodstuffs generally is about half or even less than UK prices. Items such as local brandy, retailing at around £1.20 sterling per bottle, 1 loaf of bread (weighing 300 gr.) at £0.13, 1 Lt. of long life UHT milk at £0,39, a pack of 20 B & H cigarettes at £0,69, etc.
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Mains Services
Mains power 220/240 volts AC. (British Standard 3 pin plugs are used) Water is by mains supply and in some properties supplemented by wells. International telephone system plus facsimile and internet.
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Traffic
As in the UK, traffic circulation is on the left in Northern Cyprus. Road signs are international. Max. Speed is 100 km./hr. There is a large selection of car hire companies with a variety of vehicles at favorable rates, from £15 per day in the winter to £20+ in the peak season.
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Transportation
Visitors can get to TRNC by air or by sea. Ercan State Airport is 7 miles (12 km) east of Lefkosa, which enables flights of Cyprus Turkish Airlines and Turkish Airlines. There are several ferry-boats of different lines operating between ports of Kyrenia and Famagusta in Northern Cyprus and, ports of Mersin and Antalya in Southern Turkey. For local transportation, apart from taxis and private hire cars, there are daily bus services between the towns. Ercan airport handles the bulk of the tourist traffic, whilst Gecitkale serves as a back-up airport. Daily flights from many mainland Turkish cities, as well as flights from the Europe, supply the majority of the visitors to the island.
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Pets
Pets can be brought into the country from Europe with little hassle. The Ministry of Agriculture requires a certificate from a European vet stating that your animal is free of major diseases. Quarantine is approximately 4 weeks at the Lefkosa kennels.
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Tourism
The unique climate of Cyprus offers year-round opportunities for a perfect holiday. Rainfall is concentrated in December and January, and the average sea temperature is above 20°C for more than half the year. Cyprus is renowned for its wild flowers which carpet the island in spring (there are more than 38 species of orchid alone) and scent of orange, lemon and grapefruit blossom fills the air. The coastline of North Cyprus offers some of the finest and safest bathing areas in the Mediterranean. Although most holiday establishments have modern pools, the crystal clear waters of the eastern Mediterranean are wonderful for swimming, snorkelling, sailing and water-skiing. Most of the holiday complexes are situated near the picturesque ancient port of Kyrenia on the north coast, or Famagusta in the east. The narrow fertile northern coastal strip is backed by the spectacular Besparmak Mountains - also known as the Kyrenia range, studded with its medieval castles and fortresses. The rugged slopes are covered with Aleppo pines, olives and carob trees, with small villages nestling in the hillsides. Nearer the coast, most activity is concentrated along the coast road. A legacy from the British colonial days means that traffic drives on the left and since most hotels can assist in car hire, travelling around is no problem. Inland, behind the rocky Kyrenia range and the imposing Five Finger Mountain, stretches the huge fertile Mesaoria plain, Ercan airport and the island's capital, Lefkosa. Along the east coast lie the ancient fortified city of Famagusta and the nearby ruins of Salamis. To the north east, the landscape becomes more broken and open fields give way to small pastures enclosed by stone walls and interspersed with olive trees and rocky outcrops. The beaches here are a blend of rock pools and sheltered sandy bays.
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Cuisine
The exotic cuisine of Cyprus reflects its history and maritime associations. Turkish Cypriot cooking is a fascinating blend of East and West. Breakfast consists of luscious fruits, especially locally grown melons, various local breads with cheese or jams and a selection of eggs and local sausage. Traditionally, home-made yoghurt is served with delicious local honey and if you want coffee, then remember to ask for "Nescafe" - the local term for western coffee with milk. "Kahve" means Turkish coffee: thimblefuls of that wonderfully powerful brew that is a speciality of the Near East. Evening meals begin with a sumptuous "meze" - hors d'oeuvres consisting of as many as 20 small dishes -before the main course. Raki, aniseed spirit diluted with water is the traditional local accompaniment, but wine and beer are also readily available and excellent value and quality.
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Tourist sites
Accommodation facilities are to be found under three district regions: Kyrenia, the area of north coast between the sea and Besparmak mountains, where the majority of holiday complexes are found; Famagusta, the ancient port with its long open beaches; and finally, Lefkosa and GŸzelyurt: the capital city and the western coast famous for its citrus groves. The Turkish Cypriot people are renowned for their generous hospitality and when out shopping or enjoying a meal, you are made to feel particularly welcome.
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Investment Incentives
Foreign investment is actively encouraged, and those willing to invest in Northern Cyprus can be sure of a positive - Government attitude.
- Leasing of land for extended periods at favourable rates.
- Import duty exemptions for goods concerning the project.
- Government contribution to charter risk.
- Contribution to brochure/advertisement expenditure up to 75%.
- Exemption from income tax and corporation tax for a period of ten years in the case of investment in tourist accommodation units.
- For public companies which have shareholders in excess of 50, tax exemption can be extended.
- Annual interest and principal instalments of foreign loans enjoy a transfer guarantee.
- Tourism establishments or hotels may deduct each year 20% of their annual foreign exchange gross earnings from taxable income.
- Free transfer of proceeds in case of liquidity of investments.
- Repatriation of profits without restriction or limitations.
- Employment of foreign personnel who are not available locally.
- Transfer of net income earned by foreign personnel is free.
- Exemption of constriction license fee.
- Also deductible when calculating annual taxable profit are all travel expenses related to promotion and marketing, plus all kinds of advertisement, promotion and marketing expenses.
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Visas, Permits and Licenses
The TRNC is encouraging a policy of attracting foreigners to come and live and work in N Cyprus - in particular, to invest in businesses, especially within the tourism sector. This, of course, opens up a multitude of trades and businesses, from travel agencies, transport companies (whether land, sea or air), hotels, bars, restaurants, holiday villages, tourist related services such as water sports, recreational land sports such as tennis, golf, horse riding etc.
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Summary
It is true to say that retired people and families who come to live in Northern Cyprus enjoy a much higher standard of living than their UK counterparts, with pensions having a much higher purchasing power, and with the reassuring knowledge that one is living in a safe environment. For younger people with families, there can be no finer, safer and healthier environment in which to raise one's children, and being in a position to earn one's living in Northern Cyprus can only be considered a bonus. We hope we have been helpful with this extensive introduction and that we can be of any assistance whether it is our honest advice or property aimed guidance.
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