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TRNC Limited Company - Nominee

Most overseas investors will eventually decide that the most appropriate form of business model for work in North Cyprus will be a TRNC Limited Company. Moreover, it will be registered as a Local and not a Foreign Owned Limited Company.

Once this decision has been made, then the question arises of finding a suitable person to be the Nominee Shareholder for 51% of the Company Shares and also a Shadow Director, if one is required.

Lawyers are available who will offer businessmen such a nominee service.




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The problem with using a lawyer to act as a Nominee Shareholder and possibly a Shadow Director are well known.

Firstly, it will be clear to anyone who looks at the list of Directors and Shareholders, which is maintained at the TRNC Companies House, that the company is obviously foreign owned with lawyers acting in a nominee capacity. This can lead to a challenge from the TRNC authorities concerning the true status of the company.

Secondly, lawyer fees for this service will vary dramatically. Some will wish to levy an annual fee and this is likely to increase every year. Others will quote a one off fee for the life of the company. Whichever option is selected, it is likely that the costs to the foreign businessman or woman will be significantly greater than expected or agreed.

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Thirdly, there are unfortunately cases where unscrupulous lawyers and their associates have used the nominee powers entrusted to them by a foreign businessman or investor for their own advantage and to the detriment of their clients. The foreign businessman should think long and hard before placing the company shares into the name of a nominee. The greater the funds invested in the company, then the greater will be the risk.

Another option is to use a British person who has become a TRNC citizen as a Nominee Shareholder and Shadow Director. Such people do exist, but are not numerous.

Leslie Hardy is such a British businessman with wide experience of company formation and administration in the UK. He has also formed companies in the USA, and South Africa. In TRNC, he is the Director and majority shareholder of Wellington Estates Ltd.

For most of his professional life, he has worked in UK University Business Schools and been engaged in Enterprise Activities, including the formation and management of College Companies.



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For more information and a confidential consultation, please contact us on 0044 1446 760105 or email us at

There are several pages of information on this topic -

North Cyprus Company

North Cyprus Limited Company - Distinctive Features

TRNC Company - Nominee

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