Cyprus is a Mediterranean Island that is both a member of the EU and the Commonwealth. This beautiful Greek Island essentially positioned in the Eastern Mediterranean, the most Southern EU Member, enjoys a lovely climate and a great lifestyle. Being a Commonwealth member, Cyprus offers English as a working language, spoken by almost all. It is also the safest country within the EU and amongst the three safest countries in the world with little to no crime. Cyprus also offers two very attractive immigration programs which does not require a minimum stay in the Island. By making a qualifying investment one is able to obtain a Permanent Residency or full Citizenship ( EU Passport) without having to spend much time on the Island.
18 Things you need to know about the beautiful island of Cyprus
Cyprus is an independent republic, a vibrant democracy boasting long and proud history.
Most Cypriots are Greek Orthodox and the culture and first language are Greek.
There is total freedom and tolerance of all religions, ethnicity and civil rights. The northern part of the Island is under Turkish occupation since 1974 and whereas talks between the parties are taking place, it remains a very peaceful Island with no security issues.
Cyprus is one of the most stable countries in Europe with a robust economy and significant foreign investment. A hitch in 2013 resulting from over exposure to Greek bonds caused some upheaval leading to a banks closure (merger into another bank) and an EU bailout program introduces, which was paid our in full three years ahead of deadline. Since scrutiny and banking regulations have been tightened and the economy is booming once again.
Being an EU Member State all EU regulations in all fields are applied to and adhered to.
The Population of Cyprus in circumstances 1 Million.
The infrastructure in Cyprus is excellent! highways, roads, telecommunications etc are first class. Cyprus has two international airports which offer excellent European routs (and some other) at competitive prices and attractive frequency.
The standards of education is superb, public schooling is free and there are a variety of private British and other international schools throughout the Island, which are reasonably priced. There are many extra mural opportunities for children, whether in sports, arts or extra lessons. There are also several local universities and international branches of foreign universities. Foreign students are welcome and do study in Cyprus. Cyprus boasts a particularly high level of academic graduates per capita.
The Healthcare system is very good and reasonably priced. There is a good private sector with clinics and hospitals throughout the Island. Medical insurance is mandatory and extensive in cover.
Cyprus has and exceptionally attractive tax regime. Corporate tax is 12.5%, There is no Inheritance tax and non (tax) residents are not liable for tax on income derived from abroad, including on dividends. Within the EU, trade is VAT exempt for European entities. Cyprus has and extensive network of Double Tax Treaties making in attractive to trade and operate through Cyprus companies worldwide, including with and in South Africa!
The cost of living in Cyprus is relatively low, even in comparesent to SA. Labour costs are low as well. Professional costs are moderate in costs, whilst the standards are very high.
Cyprus is a member of the Commonwealth and Cypriot law is Common law based on English Law. English standards and practices are mostly followed. Fiduciary and Trust law are very developed in Cyprus. In excess of 365,000 foreign businesses are incorporated in Cyprus and operated from the Island. Cyprus is a hub for tax planning.
The pace of life in Cyprus is relaxing and peaceful, a result of the climate, scenery and beaches, low density and open roads (with very little traffic) and the hospitable, open and warm nature of Cypriots.
Tourism is the leading sector in the Economy. There its a large variety of hotels, guest houses etc reasonably priced on average. The standards of service are high as is that of cuisine. Other leading sectors of the economy are the Financial Services, Shipping, energy (oil and gas recently discovered offshore).
There is a thriving cultural and entertainment scene in Cyprus catering for all ages and tastes. Paphos was European capital of Culture in 2017.
Whilst the Island isn’t very big, it is diverse in nature and landscape, ranging from beautiful blue flag beaches, clipped beaches, Trudos mountains, which peak at over 2,000 meters, with a ski slope and lift on the peak of the Olympus. Within 40 minutes, one could be at the coast, swimming in the warm Mediterranean and reaching the snowy mountains!
Cyprus has four world class Golf courses (one of which was actually designed by Garry Player), all in the Paphos region and in fact is the only European country in which one could play gold year round, thanks to the moderate winters. These golf courses have beautiful up market housing developments within.
There is a growing South African expat community in Cyprus, especially on the Paphos area, where there are many other expat groups. Ocean Basket restaurants are available in all cities.