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Free Port and Zone: capital and earnings may be freely transferred abroad

Rule record · last verified 20 September 2026

In force. Start date not confirmed in this record.

Rule

A company licensed to operate in the TRNC's Free Port and Zone regime (Gazimağusa or Gemikonağı) may freely transfer qualifying foreign currency, profits and capital abroad, without restriction, under the Free Port and Zone Law's own exchange-transactions provision.[1]

Exceptions

  • This Rule states the REPATRIATION right only. It does NOT state, and must not be generalised to, ordinary TRNC companies outside the Free Port and Zone regime — no formal capital-import/repatriation-certificate regime was located for ordinary companies, a separate and unresolved question (see q-invest-capital-central-bank-import-regime-absence).
  • This Rule does not address the Free Port and Zone Law's separate income/corporate-tax and customs-duty exemption provisions (Articles 16-17) — see freezone-income-and-customs-tax-exemption for that separate finding.
  • Does NOT confirm, and must not be read to confirm, any '0% VAT' figure for Free Zone sales — the primary law text contains no VAT-specific provision; that claim remains secondary-only and unverified.

Where this rule comes from

Instrument
Free Port and Zone Law, No. 26/1983, consolidated through amending Laws 41/1988, 37/1996, 37/2002 and 28/2011, Article 28(3)
Authority
Assembly of the Republic (Cumhuriyet Meclisi), TRNC
Jurisdiction
Turkish Cypriot administration (TRNC)
Basis
Legislation · asserted by us within this jurisdiction
Verification
Primary source verified. We read the primary text ourselves on 20 September 2026.
Legal review
Not yet reviewed by a named legal reviewer.

Editorial note

This rule deliberately covers a narrower scope than the underlying research found; see this rule's version history above for the fuller picture.

History of this rule

  • — Split out to publish only the repatriation finding (Art. 28(3)); the tax/customs exemption findings (Art. 16-17) from the same research are not published here — see freezone-income-and-customs-tax-exemption. (version 1, First published)

Sources for this rule

Numbered in order of first use. Each entry names the kind of source it is and the day we read it.

  1. [1]
    Free Port and Zone Law, No. 26/1983, consolidated through amending Laws 41/1988, 37/1996, 37/2002 and 28/2011

    Famagusta Free Port and Zone Directorate, TRNC · Legislation and gazettes · 24 March 1983 · original in Turkish · accessed 20 September 2026 · source record

Cite this record

https://northcyprusreference.com/en/rules/freezone-capital-repatriation-freedom

Identifier freezone-capital-repatriation-freedom · Open data · challenge this rule