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.