Cyprus Faqs

Below are some of the most common questions asked by purchasers who are considering the merits of north and south Cyprus for their next property investment.

Why should I choose Cyprus?

  • The property market is one of the fastest growing in European Union. Prices in some areas are increasing by an annual average of 20%.
  • Property prices are still lower than in many other European countries, particularly in the north.
  • Increase in the number of golf properties available. Golf property prices fetch up to 40% more.
  • Comparatively low tax rate, including a Double Tax Treaty with southern Cyprus and the UK.
  • Capital Gains Tax of only 20% and Corporation Tax for Cypriot limited companies (through which you can own your property) at only 10%.
  • UK pensions can be received tax free in Cyprus.
  • Foreign residents permanently residing in Cyprus pay only a 5% flat rate of income tax.
  • 340 days of sunshine a year make it a comfortable and enjoyable place to live.
  • High standard of living, with good facilities, including top class golf courses.
  • Low cost of living.
  • Comparatively low crime rate and friendly people.
  • Excellent medical facilities, education and offshore business advantages.
  • Tourism is predicted to grow by 4.6% over the next 10 years, contributing some 13.9% to the country´s GDP by 2014.
  • British based legal system, where English speaking lawyers abound.
  • British based banking system in southern Cyprus, making choosing mortgages and managing your money similar to “back home”.
  • Member of the Eurozone from January 2008.
  • Northern Cyprus is set to join the EU when Turkey meets the requirements.
  • Very efficient land registry with straightforward and well administered procedures.
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