Expansion of Multinational Corporations in de-facto States: The Case of Turkish Republic of Northern Cyprus

This article studies the dynamics of existence and expansion Multinational Corporations (MNCs) in North Cyprus (Turkish Republic Northern Cyprus, or TRNC) within context embargoes non-recognition international area. Therefore, we try to offer a better understanding on what mechanisms MNCs use expand their operations all over world against extraordinary political situations. In this regard, main research questions study are: ‘What are TRNC as an unrecognized state?’ ‘How, by using which tools do exist, evolve, operate, capital market?’ mechanisms, tools, processes used operating TRNC, forces behind investing despite risks illegality were investigated conducting field study. The was conducted through semi-structured in-depth interviews with nine participants who represented thirteen establishments different TRNC. findings show that order legalize investments