The procedure for forming up a company in the T.R.N.C, depends on the intended objects of the company. If the company is being set up with the object of holding immovable property, the company should not be controlled by non-T.R.N.C citizens i.e. the majority of the company’s shareholders and directors should not be foreign nationals.
For more information please open the link to Naomi Mehmet & Partners law firm:
http://www.nmplegal.com/assets/docs/guide-to-forming-a-company-in-northern-cyprus-270815.pdf