Non EU Country Turkish Cyprus gets re-discovered as Euro-free Haven.
The great news for visitors to non EU country Northern Cyprus is that the currency in North Cyprus is the Turkish Lira (TL). In addition, the pound sterling is widely used. The current financial problems with the Euro in the South of Cyprus – widely publicised in the media – do not apply in the North. Many new visitors are unaware of this and banks in the North are experiencing a boom as savers look for a safer haven for their funds. Being a non EU country, North Cyprus attracts those who are willing to get a better value for their hard-earned money.
The TRNC (Turkish Republic of Northern Cyprus) has its own government and financial system. The banks are both Turkish mainland banks (such as Turk Bank and Garanti Bank) and local TRNC banks. All of these are functioning normally and offer very favourable rates of interest. The Turkey mainland economy is very strong and this has a positive knock-on effect on the North Cyprus economy.
If you are visiting the TRNC you can change your pounds to Turkish Lira (TL) either before you set off, or upon arrival. In addition, if you bring pounds sterling (notes) you will find these easy to spend in restaurants and shops – the change will be given to you in local currency. You will discover that eating out, sightseeing and shopping are all very affordable. ATMs are widely available, and banks can be found in all of the main centres. Credit cards are also widely accepted throughout the TRNC.
Being a North Cyprus property owner in this Non EU country adds even more benefits as property prices are far more competitive in the North, too. Go Back