The Currency of Northern Cyprus: The Golden Key to Investment

Northern Cyprus Turkish Republic (TRNC) attracts attention not only with its crystal-clear sea, warm climate, and friendly people but also with its investment opportunities. How does the currency work here, and why does the British Pound (GBP) stand out in real estate investments? Let's explore the economic structure of Northern Cyprus together.

1. Currency in Northern Cyprus: TRY or GBP?

The official currency of Northern Cyprus is the Turkish Lira (TRY). You can comfortably make daily purchases, restaurant, and market expenses in TRY. However, for major expenditures, especially real estate investments, the British Pound (GBP) is preferred.

2. Why is the British Pound so Popular?

• Maintains its value: Due to frequent fluctuations in the TRY, investors view the Pound, which retains its value over time, as a safe haven.
• International recognition: GBP is a strong currency in Europe and worldwide, making it attractive for foreign investors.
• Real estate sector relies on the Pound: When buying, selling, or renting property in Northern Cyprus, prices are mostly displayed in Pounds.

3. What to Consider When Investing?

• Take precautions against currency fluctuations: If you earn income in TRY, consider the currency risk.
• Evaluate Pound-based investments: Investments made in Pounds, especially in real estate, may be safer in the long term.
• Utilize tax advantages: Northern Cyprus offers low tax rates and investor-friendly procedures across multiple sectors.

4. Profitable Investment Areas in Northern Cyprus

• Real estate: Villas, apartments, and commercial properties are gaining value daily.
• Tourism: Small hotels or tourism businesses are ideal for earning foreign currency income.
• Student investments: Due to the high number of universities, student dormitories and rental apartments offer significant profit opportunities.

5. Advantages of Investing in Northern Cyprus

• Reduced risk of devaluation due to Pound-based pricing
• Rising trend in the real estate sector
• Low tax rates and easy investment procedures
• High potential in tourism, education, and commerce

Northern Cyprus stands out on investors’ radar as both a safe investment environment and an opportunity for sustainable profit. Pound-based investments serve as a golden key for those seeking protection from economic fluctuations.