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The International Business Company regime: an offshore-only, 2.5%-tax vehicle

Rule record · last verified 22 September 2026

In force. Start date not confirmed in this record.

Rule

TRNC's International Business Company regime, under Law 38/2005, is a separate, offshore-only corporate vehicle taxed at 2.5%, available only to foreign persons or TRNC citizens resident abroad — not the default route for an operating TRNC business.[1]

Exceptions

  • Real-world uptake or practical popularity of this vehicle was not researched.

Applies to

Who:
Investors · Company shareholders

Where this rule comes from

Instrument
International Business Companies Law, No. 38/2005 (as amended by 27/2007), Articles 4, 5, 9-10, 13, 17-18
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 22 September 2026.
Legal review
Not yet reviewed by a named legal reviewer.

History of this rule

  • — Published following Founder approval. (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]
    International Business Companies Law, No. 38/2005 (as amended by 27/2007)

    Ministry of Economy and Energy, TRNC · Legislation and gazettes · original in Turkish · accessed 20 September 2026 · source record

Cite this record

https://northcyprusreference.com/en/rules/ibc-regime-offshore-vehicle-overview

Identifier ibc-regime-offshore-vehicle-overview · Open data · challenge this rule