Holidays in the Turkish Republic of Northern Cyprus (TRNC) are serene relaxation in a heavenly corner of the Eastern Mediterranean. Every year Northern Cyprus attracts the attention of tourists from around the world, which in turn forms a favourable investment climate in the country, which already has a number of exclusive advantages in comparison with similar resort countries of the region.
Some business analysts consider the special diplomatic status of a partially recognized state in terms of investment liquidity a disadvantage of the TRNC, although this is precisely what constitutes the exclusive highlight for advanced businessmen who place large capital here. Elite commercial real estate in Northern Cyprus, such as operating hotels and casinos offered for sale in sufficient quantities, is of particular interest to large investors from all over the world, since it is the specific international status of the state that protects the activities of offshore companies in the country from the ubiquitous monitoring of external financial institutions.
Of course, the developed network of operating casinos in Northern Cyprus attracts VIP tourists from Europe, Asia, the Middle East and even the United States, which is rapidly developing the gambling industry on the island and attracting special interest of foreign capital in this segment of commercial real estate.
Gambling in TRNC is completely legal forms a key part of the national GDP, which is why it is strongly supported by the state.
If you want to clarify the details of the purchase of a casino in Northern Cyprus, then feel free to contact the our company specialists for an expert, confidential, completely free consultation. Just send a request using any of our contact details right now and our experts will immediately get back to you.
The process of buying a casino in Northern Cyprus
If a potential investor decides to buy an operating casino on the island to conduct the most profitable business in the resort and entertainment sector of Northern Cyprus, our company offers a standard collaboration scheme towards achieving this goal from the first consultation to the conclusion of a contract for the purchase of a gambling club or casino hotel.
The programme of work with clients for the acquisition of commercial real estate is not fundamentally different from that for purchasing housing stock and includes standard procedures, in particular:
- Operational processing of the application and initial consultation with the client in a way that suits them;
- After our dedicated specialist receives the information from the buyer or his representatives about the specification of the property of interest (casino hotel or gambling club) and the estimated investment budget, our experts carefully select and provide a list of available purchase options in this segment of the TRNC commercial real estate market;
- After negotiating and approving a specific property in which the buyer is interested, our company representatives conduct preliminary negotiations with the seller or his representatives about the intention to purchase in order to identify all the details of the casino presented for sale, as well as for available conditions of purchase and possible price negotiations.
- The next stage involves obtaining the consent of both parties to the transaction for direct negotiations with the participation of lawyers representing the interests of the buyer and seller, with the agreement of the date of the meeting and arrival on the island of the buyer or his representatives to inspect the property;
- After the approval of the date of arrival of the buyer and his representatives in Northern Cyprus for all preliminary procedures and the completion of a contract to purchase the casino, details regarding the organization of transfers and accommodation are agreed;
- In the event that all preliminary procedures are successfully completed and the potential investor decides to proceed with the transaction, our lawyers negotiate with both parties a date for signing the contract for the purchase of a casino and organize the transaction procedure, including legal support from our company lawyers in order to comply with all existing rules and local law requirements;
7. After the successful transaction for the purchase of a gambling club or casino hotel, our managers will provide the buyer or his representatives with a full package of necessary consultations as part of the after-sales service in order to help the investor settle in TRNC and start conducting a successful business on the island
Existing casinos for sale
In Northern Cyprus, dozens of casinos of various classes and formats are successfully operating and developing. Many gambling clubs are integrated into an extensive range of related services of large five-star hotels, including restaurants and bars, spa salons, water parks and pools, equipped beaches, etc.
Most of the existing casinos in Northern Cyprus have a regular clientele and are very popular among foreign tourists and the local population, including residents of the south side of the island.
Local casino clubs are deservedly popular with lovers of social entertainment, thanks to the regular organization of various entertainment events and the drawing of progressive jackpots, which often top £4,500,000.
Casino tours to Northern Cyprus – an effective element in the work of the gambling industry of the island
The gambling industry of Northern Cyprus occupies an established position among the countries of the Euro-Asian region with a highly developed gambling entertainment sector, thanks to the exclusive direction of the sector’s development, which consists of special casino tours from classic group tours to personal VIP tours of premium class casinos for the particularly discerning customer.
In general, the intensive development of the gambling business in Northern Cyprus is due to the following factors:
- Lawfulness of doing business in the gambling industry;
- Lack of competition in the Mediterranean region and strong demand for gambling;
- Affordable value of commercial real estate and related services of the resort sector in comparison with European prices;
- Low taxes and various state programmes of support for gambling.
Optimizing the work of your own casino in TRNC
After buying a casino on the island, the new owner of the club needs to maintain a decent level of service, organize all kinds of entertainment events that attract an additional flow of visitors and keep abreast of new trends in the gambling industry for the timely introduction of modern innovations in the work of their own institution.
Our experts are always ready to provide the most relevant information on the casinos presented for sale and other commercial real estate in Northern Cyprus, thanks to regular monitoring of the local market in this area and many years of experience in selling large resort real estate for business.
Taxes and expenses for maintaining a casino in Northern Cyprus
The cost of maintaining a casino in Northern Cyprus depends on the geographic location and floor space of the gambling club, the number of slot machines, roulette and poker tables, as well as the number of staff employed.
Conducting this type of business in the TRNC involves an annual license renewal, with an estimated cost starting from around £500,000, as well as the payment of tax on gaming machines, the cost of which directly depends on the profit received by the institution.
Where the casino club is located in a hotel, of course, the staff increases, but at the same time hotel rooms are rented not only to gamblers, but also to ordinary guests visiting the island for the purpose of tourist trips and beach holidays.
Visitors to the casino living in a club hotel use the entire existing infrastructure of the resort and entertainment complex of the institution:
- Restaurants and bars;
- SPA salons;
- Beauty salons;
- Beaches and swimming pools;
- Water rides.
For detailed information on the conditions of purchase of a gambling establishment in Northern Cyprus, please leave a request for a free consultation through any contact form available in our virtual office. After receiving the request, our specialist will contact you at the time and in the manner of your choosing and provide detailed answers to all your questions regarding the purchase of a casino or any other commercial real estate.
Casinos of Northern Cyprus occupy an important place in the entertainment industry on the island
The casinos of Northern Cyprus are the most important component in the entertainment and nightlife of the island, with an annual increase in trust and popularity among customers from around the world. Gambling clubs and casino hotels are scattered throughout the northern part of the island and are most densely concentrated in the largest tourist cities of Kyrenia (Girne) and Famagusta.
It is important to note that in Northern Cyprus there are large gambling clubs that are in serious competition with world famous casinos in terms of scale, fashionable design in the best traditions of the gambling industry and the level of premium service, which begins with meeting customers at the airport and their transfer to the hotel casino by executive car.
In northern Cyprus, there is an unofficial programme for the construction of a Mediterranean Las Vegas on the east coast of the island, which has already become famous among many foreign visitors, thanks to several large and super fashionable casinos, some of which are chain clubs.
Interested in investing in the gambling industry of Northern Cyprus and getting comprehensive, up-to-date information on the existing clubs and casino hotels offered for sale in TRNC? Then fill out a form right now and get a full package of expert consulting services for acquiring casinos and any other commercial property in Northern Cyprus today!