Discover Living In Northern Cyprus
You will pleasantly surprised to hear that Cyprus has one of the lowest crime rates in Europe and this is what makes the island so attractive to anyone wishing to invest in the Cyprus Property market. Apart from feeling secure on the island you will notice the very relaxed atmosphere amongst the local residents, so much so it has been compared to pre war Britain.
In some ways the European community is fantastic, especially that you can now go and work in any member state. Cyprus is no exception, so now buying a property in Cyprus doesn’t just mean buying a holiday home as you can work and live there all year round.
Those European residents who wish to try a new working life in Cyprus will need to register at the Alien Central Register. Having registered you may either look for work at the local job centre or on your own accord. You are obliged to make an application for a residents permit during the first three months of living there.
If you do purchase a property in Cyprus you may consider making a few economic savings. Solar heating is an cheap alternative and its adoption is relatively inexpensive, having a payback period of approximately 5 years. If you will have a garden, it is advisable to drill a borehole for watering as the water charges rise more than proportionately with consumption. This will cost around 360 for the borehole and the pump, although it will depend on the depth of the borehole. The drilling of a borehole requires a Government permit first.
Permission will be granted to a company for the acquisition of property, provided that it is for its own use. Offshore companies could therefore acquire property within the above limits. If you live permanently in Cyprus, you will have to pay Cypriot income tax on your worldwide earnings. However, the good news is that tax rates are some of the lowest in Europe, especially for those who choose to retire there.
Compared with the majority of other European Countries, Cyprus remains on the least expensive places to live in and you will find that it is relatively cheaper as regards living expenses. Many of the previous points outline just why so many people are choosing to come and live in Sunny Cyprus.