The Turkish Republic of North Cyprus (TRNC) is an emerging market place where many new businesses are flourishing after the recent opening of border controls. This is a very lucrative market to be involved in and with a rise in property prices in the region of over 50% in the last 3 years you can see a sustainable growth for the foreseeable future. The obvious main income source in North Cyprus has traditionally been the tourism trade however this has now been comfortably out stripped by the construction sector and all its facets. This has seen a tremendous growth in not only building supply merchants but also for the more adventurous the DIY stores. For those of us who have taken the plunge the change over the last few years has been nothing short of a miracle, from limited supplies of imported goods at extortionate prices to now an abundant array of western European merchandise. This makes the transition to moving to North Cyprus that much easier.

Again another growth industry in North Cyprus, which after some severe tests in 2000 have seen a careful and sustained consolidation, with some sensible and necessary guidelines enforced by the Turkish Cypriot government. The traditional ‘boom and bust' economy of this area has lead to a well structured and effective banking system which has close ties with many UK foreign banks including Barclays, Royal Bank of Scotland and HSBC. It is a very easy and simple process to open an account in North Cyprus banks. Your account can be set up in your choice of currencies including Sterling, US Dollars, Euros and the New Turkish Lira.

For more in depth information on banks in North Cyprus please do not hesitate to contact us at www.cyprusroyallake.com