Cyprus enjoys a remarkably low crime rate 1/6 of the European average another reason for its popularity with foreign buyers for whom security has become a key element in the property world. Visitors are invariably surprised and reassured by this relaxed aspect of life on the island, where crime is virtually unheard of and theft not commonplace.
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.
Any European Citizen who decides to Work in Cyprus will have to register at the Alien Central Register. Once you have registered you can look for work either at the job centre or privately. A residence permit must be applied for within 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.
If you would like to start your own business in Cyprus, purchasing a property for commercial use is not a problem at all. Another advantage in Cyprus for permanent residents is that the income tax rate is one of the lowest in Europe, although you do have to declare your worldwide income, but this is an ideal tax haven for retired people.
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.
Tags: Cyprus Living
