Cyprus has become increasingly likely to become a more permanent residence for many British expats. So, what exactly is it that makes Cyprus so very appealing?
Cyprus is a popular island for holiday makers, but over recent years, Cyprus has become increasingly likely to become a more permanent residence for many British expats. So, what exactly is it that makes Cyprus so very appealing to the Brits, Particularly in a post-Brexit climate?
Well, it will not come as any great surprise that the British simply love the Cyprus weather. With around 340 days of sunshine every year, you simply don’t get those months of dull, dreary cold and rain that you get in the UK. Being in the sun just makes everyone feel better.
Some lucrative tax benefits
Life in Cyprus is idyllic, but it doesn’t just stop there. You can also take advantage of some very good tax benefits. Cyprus has established double tax treaties with many countries, and rates of tax are low, for example, corporation tax is just 12.5% and there is zero income tax to pay on any income from dividends, and income tax allowances and rates are in general very generous. A couple of other tax incentives are zero tax on foreign income received in Cyprus and zero inheritance tax & estate duty.
A fast and easy residency programme
Applying to become a permanent resident in Cyprus is much simpler than it is for many other countries, thanks to the Cyprus Permanent Residency Programme. The scheme has lower financial requirements than many other similar programmes with the safety net of a European country. The benefits of your successful application can be enjoyed by your whole family, your children (up to the age of 25) and even your parents. The status is for life, even for your children, and once you have Cyprus residency, you can then go on to apply for a Cypriot passport.
The beaches in Cyprus are world class. For anyone who enjoys water sports, diving or simply just relaxing with a good book or soaking up a breath-taking view, the beaches of Cyprus are ideal. Add to this the fact that Cyprus is a small island, so you’re never really too far away from a beach, and it’s the perfect location.
A safe environment
Everyone wants to feel secure and to have peace of mind that their family is safe. Cyprus has one of the lowest crime rates in all of Europe. While other countries many have similar delightful climates and other positive points, a low crime rate really is vital for your mental wellbeing, particularly when you’re relocating with your family.
A warm welcome
The Cypriot people are well known for their friendly demeanour, so you’ll feel at home as soon as you arrive. Because nearly all people in Cyprus speak good English, you won’t have any problems with language barriers here either. In addition, there’s a large expat community already established on the island so you’ll find friendly Brits on hand to answer any questions you may have about your new life in Cyprus. Additionally, we also have a similar legal system and our laws are translated in English, making business in Cyprus effortless.
A great new life in Cyprus
If you’re looking for the perfect home in Cyprus, then take a look at our portfolio of luxurious properties. With over 60 years of experience with all aspects of property development, you can rest assured that all Domenica Group homes are finished to the very highest standards and specifications. We have properties available to suit all tastes and requirements in a variety of locations, so do check out our website or get in touch if you have any questions.