Currency of Northern Cyprus

Currency of Northern Cyprus: The Golden Key to Investment

The Turkish Republic of Northern Cyprus (TRNC) attracts attention not only with its deep blue sea and friendly people, but also with its investment opportunities. So how does money work here? Why is everyone talking in British Pounds when buying real estate? Let's take a tour of the economic world of Northern Cyprus!

1. Currency in Northern Cyprus: Turkish Lira or British Pound?

The official currency of Northern Cyprus is the Turkish Lira (TRY). So you can make your daily purchases in TRY. But when it comes to big expenses, especially real estate and investments, the British Pound Sterling (GBP) comes into play. So why?

2. Why is the British Pound so Popular in Northern Cyprus?

• 01 It maintains its value: Since fluctuations in TL are frequent, the British Pound gives confidence to the investor.
• 02 International recognition: The British Pound attracts foreign investors as it is a strong currency in Europe and around the world.
• 03 The real estate sector depends on this currency: If you are looking to buy, sell or rent a house, you will most likely see prices in British Pounds.

3. What to Consider When Investing in Northern Cyprus?

• 01 Take precautions against currency fluctuations: If you are earning in TL, calculate the income-expense balance well.
• 02 Consider investments based on British Pounds: Especially the real estate sector offers great opportunities in this sense.
• 03 Take advantage of tax advantages: Taxes are low in many sectors in Northern Cyprus and there is an investment-friendly economy.

4. The Most Profitable Areas to Invest in Northern Cyprus

• 01 Real Estate: Villas, apartments and commercial properties that are increasing in value every day.
• 02 Tourism: Tourism in North Cyprus is growing every year. You can earn foreign currency by opening a small hotel or tourism business.
• 03 Student Investments: Due to the high number of universities, student dormitories and rental apartments can be a serious source of income.

5. Advantages of Investing in Northern Cyprus

• 01 Protection from depreciation thanks to the British Pound-based pricing
• 02 The ever-rising trend in the real estate sector
• 03 Low tax rates and easy procedures
• 04 Great potential in the fields of tourism, education and trade