Whether you are a ‘digital nomad’, newly or soon to be retired, a company director or entrepreneur, Cyprus must be the most attractive place to live in Europe.
With a year-round desirable climate and average winter temperatures of 22-23° C. During the day Cyprus weather is the warmest in Europe. Many expatriates that moved to France, for example, are often surprised by the harsh winters, even in Provence as it can reach sub-zero temperatures. Cyprus boasts of around 340 days of sunshine each year!
In addition to the climate, Cyprus has so much to offer international expatriates. It is a beautiful island surrounded by crystal clear seas and a stunning coastline. The people are welcoming, friendly and very sociable. The food is amazing with regional cuisines to satisfy every pallet and a thriving wine industry – what more would you want?
Properties are now incredibly good value, but more about that later……
From a financial perspective Cyprus has benefits that are without doubt the most attractive in Europe.
- No income tax on company dividends
- A corporation tax rate of just 12.5% (with an innovative tax break that can lead to a reduced rate of just 2.5%)
- Pensions attract an income tax rate of just 5% (yes 5%!!!)
- Income tax only levied on income over €19,500 pa
- No inheritance tax
In addition to low living costs, Cyprus was recently voted the 5th safest place to live.
But perhaps one of the most fascinating draws to overseas residents is the Cyprus Permanent Residency Programme whereby purchasing a property for a minimum value of €300,000 you can gain a permanent residency permit.
There are numerous benefits attached to this scheme including no physical residence requirements, just a minimum 24 hour stay every 2 years! Even more incredible is the fact that the Cyprus Permanent Residency programme has a 100% approval rate……
Anyway, back to the properties – whether you want a hotel, apartment, town house, villa or rural property, there has never been a better time to buy!
If you are looking for a new build, resale or investment property in Cyprus we can help. Contact us or take a look at available listings here: