Is it worth moving to Cyprus as a pensioner?
Yes, and for various reasons! Here are a few:
1) To receive the gross pension and pay only 5% of taxes, or even 0% if the gross annual income does not exceed € 19,500 (no tax area).
2) The lovely climate that offers more than 300 sunny days a year, a very long summer from April to October, sea water temperature that can reach 32 degrees. Of course, one must know how to choose the best areas and thus avoid the hottest or wettest cities. Cyprus Services consultants will be able to provide you with a tailor-made advice and help you choose the area that best suits your needs and expectations.
3) Low crime rate and a general sense of security.
4) Cost of living lower than in most part of Europe of at least 20% (depending on the location chosen - get advice from Cyprus Services). In any case, here are, for example, some advantages that are independent of the chosen area: cheaper petrol cost, road tax and car insurance, dinner at typical restaurants at competitive prices, even in some tourist areas.
How does the health service work?
Cyprus has 8 main hospitals located in the 5 provinces and 25 smaller clinics. To these are added many private clinics, some of which are of the highest level, which offer services at competitive prices.
Since June 2020, the public health system has been completely and even more efficiently reorganized.
Each citizen chooses his own general practitioner. The costs for medical and laboratory services are as follows: 1 € for each item of laboratory tests; 1 € for pharmaceutical products; 6 € for specialist visits; 10 € for radiology / radio diagnostics, cytology and pathological anatomy; € 10 for first aid services.
How much does it cost to rent a house on average?
Bearing in mind that the cost of rent varies according to multiple factors (location, proximity to the sea, services, year of construction, finishing, etc.), you can still expect to find accommodation with an excellent quality / price ratio. In some cases you will be really surprised.
For example, you can find a delightful two-bedroom apartment, in a residence with swimming pool, 10 minutes drive from the sea, furnished and complete with all comforts (a/c, lift, washing machine, dishwasher, etc.), for 450-500 euros/month.
Is it worth buying a house?
Due to the effects of the COVID19 pandemic, it is now even more advantageous to buy, as the availability of properties on the market has increased and prices tend to fall to entice the purchase.
The aforementioned two-bedroom apartments (referred to in the previous question) that you could rent could be purchased with 80-120k euros. Cyprus Services is at your disposal to help you choose the best solution and most in line with your needs. Trust our experience, we know how to distinguish a deal from… an opportunity to be gladly missed!
What are the paperwork to be completed for the transfer?
The first thing to do is to find an accommodation (rented or owned), as an indispensable criterion for obtaining a residence permit.
After 182 days from the issue of the residence permit, you can proceed with registration at the local Revenue Office (necessary, for example, to request the tax exemption of the pension).
Cyprus Services has been providing assistance to retired and non-retired customers for 5 years to complete all the bureaucratic procedures for the transfer, and much more. Find out which services we can offer and ask for a quote (info@cyprus-services., +357 95121272).
Why setting up a company in Cyprus?
First, for a highly improved tax regime compared to most of the other European countries. Secondly, because the bureaucracy is leaner and the accountant's costs are reasonable (especially for small-medium enterprises with a relatively low number of annual transactions).
Moreover, Cyprus is part of the European Community, with all the benefits from this.
Contact us for more information and to find out if your business can be relocated to Cyprus (firstname.lastname@example.org, +357 95121272).
Which are the most frequent air connections with Cyprus? *
There are two airports in Cyprus: Larnaca and Paphos.
The most air connections are with the following countries: UK, Russia, Germany, Italy, Scandinavian countries, Israel, Egypt and many more.
* information subject to possible variations during and after the COVID19 pandemic, not necessarily in terms of reduced flights, but also vice versa.
How is the political situation between the Republic of Cyprus (Greek Cypriot side to the south) and the Turkish Republic of Northern Cyprus?
Some will remember that in Cyprus, in 1974, the ethnic conflicts between the Greek Cypriot population and the Turkish Cypriot population, together with a complicated political situation, led to the invasion by the Turkish army and the occupation of 36 % of the territory.
For more than 46 years, in fact, the island has been divided into the Greek-Cypriot part in the South (Republic of Cyprus) and the Turkish-Cypriot part (Turkish Republic of Northern Cyprus), separated by a buffer zone (the so-called green line) under the control of the UN.
In 2003 the first border crossings (checkpoints) were opened, recently arriving at a total of ten located in various points of the island **; through them, one can now pass from one part of the two territories to the other by displaying the passport or identity card.
When it comes to Turkey, the first instinct is to be at least wary, but you must know that the Turkish Republic of Northern Cyprus is quite another thing than the continental state, as it enjoys a wide autonomy. Suffice it to say that there are casinos, anyone can drink alcohol, and the Muslim religion has a very liberal imprint.
The reason why we at Cyprus Services organize and recommend a visit to North Nicosia (now the last capital in the world divided in two) or to Famagusta is precisely to show how unfounded any alarmism is and to see how much these places are interesting to visit.
The first sensation is peace and tranquillity, a security given by the relaxation of the people who lead an existence at a much slower pace than ours and a palpable atmosphere of other times.
North Cyprus offers a wide variety of beautiful and characteristic places to visit: castles, historic centres, marinas, beautiful beaches, etc., not to mention that it is less exploited for tourism so the impression is that of travelling back in time by at least twenty years ... But don't think that in terms of comfort, services and technology in North Cyprus something is missing! From this point of view, everything is the same as in the rest of Europe, but with the considerable cost of living up to 50% lower than in most of the European countries (thanks also to the favourable Euro / Turkish Lira exchange rate). If you decide to move to Cyprus, you will do like many fellow countrymen resident here: you will often and very willingly go "over the border" to get petrol at € 0.80/liter, to have a sumptuous breakfast for two for about 5 euros, to dine well abundantly with less than 10 euros each, and for shopping and various purchases. ***
** closed during the COVID19 pandemic
*** prices fell further during the COVID19 pandemic, mainly due to the devaluation of the Turkish Lira
Any other useful information?
1) In Cyprus, we drive on the left side of the road. But don't worry, you will get used to it very quickly!
2) It is the ideal place for sport and lovers of outdoor activities. In addition to swimming in the splendid sea and to all the so-called water sport activities (parasailing, canoeing, stand up paddle, sailing, windsurfing, diving, etc.), the sports that can be practiced are: running, trekking, climbing, horse riding, mountain biking, tennis, skiing (yes, it snows on the Troodos Mountains in winter!) and much more.
Not to mention motorcycling, dune buggy and quad rides!
The advantage is above all that almost all of these sporting and adventurous activities can be practiced all year round, thanks to the favourable climate.
3) Are you not sporty and afraid of getting bored? No problem! In addition to meeting friends for a coffee or dinner at the restaurant, you can visit typical villages, archaeological sites, museums and art galleries, attend festivals, concerts, folkloristic events, all kinds of events, go dancing or sign up for courses of painting, yoga, meditation and much more!
4) If you have a pet and you obviously do not want to part with it, your beloved dog or cat will be able to move with you. All you have to do is provide it with the special vet passport and check that the chosen airline carries animals. Most importantly, when choosing a house to rent, you must ensure that it is pet-friendly. In this case, too, Cyprus Services can help you.