Cyprus

Cyprus is situated in the far Northeast corner of the Mediterranean and due to its location, enjoys probably the best Mediterranean type climate.

It is the crossroads of Western and Eastern civilization, its local architecture and theme of life take on the best of what the two worlds have to offer. It is a place where everybody feels at home.

Climate

This plays an important part in ones plans for living overseas. Cyprus, is probably the only destination in the world that you can enjoy skiing at the snowing mountains of Troodos and at the same time you can enjoy the sun and the beautiful beaches while swimming.

Standard of Living

A few days on the island will help you realize that Cyprus enjoys a high European standard of living whilst the cost of living is low.

Shopping

Currency : The Currency of Cyprus is the Cyprus Pound which is divided into 100 cents.

the notes and coins currently in circulation are as follows:

Bank notes : C£20, C£10, C£5, C£1

Coins : 50 cents, 20 cents, 5 cents, 1 cent and 1/2 cent

Weights and measures :

Weights and measures used are those of the metric system.

Food

Food in Cyprus is excellent. Vegetables, fruit, meat and fish are always fresh and the supermarkets are well stocked with important commodities. Prices are very reasonable with fruit and vegetables being particularly inexpensive. Fruits like bananas, kiwis, oranges, mandarins, apples, grapes, melons and avocados are very common in Cyprus.

Alcohol and tobacco

Cyprus wines and spirits are of excellent quality and very reasonably priced. for example, a good red or white wine can be purchased for just C£1. Cyprus brandy costs between 70 cents and C£3 per bottle. Cigarettes are around C£1 per packet of 20.

Medical Services

Health care in Cyprus is of a very high standard and not expensive. The majority of Doctors have qualified in the UK of USA. Hospitals in Cyprus are equipped with the latest medical and surgical technology from UK and the USA. Hospital fees are low and for those who prefer private treatment, there are many private clinics and medical centers with highly qualified doctors covering every field of medicine.

Language

Language is another important consideration when one is considering living overseas. Cyprus was once a British colony resulting in over 90% of the population speaking English. Clearly, this factor means that it is far less of a strain living in Paphos than it would be in other locations in Europe. It is also useful to note that all street signs, direction signs and shop signs etc. are written in English.

Banking Standards

The Banking system in Cyprus is modeled on the British System. The banks have many convenient branches and they are very efficient, modern and well equipped with the latest technology. Non Cypriot citizens may open foreign currency and local deposit accounts without difficulty. Many international banks have branches throughout the island.

Legal System

The legal system in Cyprus has been mainly based upon the British legal system. The Land Registry in Cyprus is probably the most advanced and reliable system in the world and is also based upon the British equivalent.

Taxation

Cyprus is unique when it comes to the taxation aspects of living on the island. Cyprus has conducted treaties for the avoidance of double taxation with countries like France, Germany, Greece, Ireland, Italy, Norway, Russia, Sweden, UK, USA, etc. The main purpose of these treaties is the avoidance of double taxation of income earned in any of these countries.

For example, UK citizens may take advantage of the double taxation treaty existing between the UK and Cyprus. This enables you to receive your pensions and investment income in Cyprus FREE of UK withholding tax. this treaty is unique to Cyprus since it includes both public and private sector pensions.