FAQs

Is the cost of living low in Cyprus?

Yes, the cost of living in Cyprus is one of the advantages that brings many people here to invest. Cyprus, based on statistics, has one of the lowest costs of living within a developed nation while providing a high European standard of living.

How is the weather in Cyprus?

The weather in Cyprus is excellent throughout the year with sunshine almost 95% of the year

How is the education in Cyprus?

There are many reputable schools in Cyprus, Greek and English speaking schools. All major towns have international schools of high reputation offering GCE and other examinations.

What languages are spoken in Cyprus?

Greek is the primary language but the majority of the population speaks and understands English very well. Other languages spoken are Turkish, Russian, French and German.

What currency is used in Cyprus?

As of January 1st 2008, Euro is the official currency.

What are the tax advantages in Cyprus?

Cyprus has treaties for the avoidance of double taxation with Austria, Bulgaria, Canada, China, Czech Republic, Slovakia, Denmark, France, Germany, Greece, Hungary, Ireland, Italy, Kuwait, Norway, Poland, Romania, Russia, Sweden, U.K, USA and Yugoslavia. The main purpose of these treaties is the avoidance of double taxation of income earned in any of these countries. E.g. UK citizens may take advantage by receiving pensions and investment income in Cyprus free of UK withholding tax.

Do I need permission to purchase a property in Cyprus?

Yes. A written application must be provided to the Council of Ministers after the agreement is signed. However, permission is granted to all more or less.

Can a foreigner get employed in Cyprus?

Non-Cypriots that wish to work in Cyprus must have a work permit as a formality, which it's easy to get.

What am I allowed to purchase in Cyprus as a foreigner?

Purchasing property in Cyprus is very easy as you are allowed to purchase a house or an apartment, a plot of land not exceeding 4000 m2, or a villa on a building site not exceeding 4000 m2.

What are the prices and payment methods?

Prices vary based on size, location, and specifications. As far as payment methods, almost all banks offer mortgage facilities.

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