Turkish Republic of Northern Cyprus is an island country, covering the northern part of the Cyprus Island, which is the third largest island in the Mediterranean Sea, having an area of 9.251,5 km2 whereas Northern Cyprus has an area of 3.355 km2.
It is located at the crossroads of Europe, Middle East, Africa and Asia. Northern Cyprus’s strategic location is one of its main attributes, with its neighbors Southern Cyprus, Turkey, Syria, Egypt, Israel, Lebanon and Greece.
Cyprus Island lies about 71 km south of Turkey, 98 km west of Syria, 340 km northwest of Israel and 384 km north of Egypt.
In recent years, the economy of Turkish Republic of Northern Cyprus has presented impressive growth figures, with the help of the stability achieved in Turkish Lira. The real economic growth rates for the years 2010, 2011 and 2012 are 3,6%, 4,3% and 4,0% respectively.
Turkish Republic of Northern Cyprus applies a free market economy approach and Northern Cyprus authorities support the new investments by providing a number of incentives and a business-friendly environment.
North Cyprus has the characteristics of Mediterranean climate. It has warm to hot, dry summers and cool, wet winters. The average temperature in the summer is 320C, while it is 130C in the winter.
North Cyprus enjoys one of the benefits of being a Mediterranean island by having plentiful sunshine, about 300 days of sunshine per year.
The total population is 294.906 in Northern Cyprus, according to 2011 records.
Turkish is the official language and English is also widely used on the island.
Turkish Lira (TRY) is the official currency in Turkish Republic of Northern Cyprus.
In PortISBI Famagusta Free Port and Zone, every payment is made with convertible currencies.