Living And Working In Cyprus

Safe Cyprus enjoys an extremely low crime rate compared to other European holiday destinations and that is why it has become so popular with potential investors who have seen Cyprus as a secure investment when it comes to purchasing property. You will notice immediately the relaxing tone that life in Cyprus endures, where crime is not a day to day problem and some compare the Island to pre war Britain.

All European citizens have the right to seek work in most EU Member States. The Republic of Cyprus has not adopted a transitional period, and thus the principle of the freedom of movement of workers between EU countries is applicable in full.

Any European Citizen who decides to Work in Cyprus will have to register at the Alien Central Register. Once you have registered you can look for work either at the job centre or privately. A residence permit must be applied for within the first three months of living there.

If you do purchase a property in Cyprus you may consider making a few economic savings. Solar heating is an cheap alternative and its adoption is relatively inexpensive, having a payback period of approximately 5 years. If you will have a garden, it is advisable to drill a borehole for watering as the water charges rise more than proportionately with consumption. This will cost around 360 for the borehole and the pump, although it will depend on the depth of the borehole. The drilling of a borehole requires a Government permit first.

If you would like to start your own business in Cyprus, purchasing a property for commercial use is not a problem at all. Another advantage in Cyprus for permanent residents is that the income tax rate is one of the lowest in Europe, although you do have to declare your worldwide income, but this is an ideal tax haven for retired people.

By European standards, Cyprus is inexpensive to set up home and live in, and you can get by very comfortably on a smaller budget than you would in many other countries and all these factors along with special tax incentives offered by the Government, explain why so many people from abroad choose to live in Cyprus.

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