Cyprus is a part of the "Pet Passport" scheme. Pets may be brought into the country, provided that all the required vaccinations have been curried out and a permit has been issued by the Department of Veterinary Services in Nicosia. Thereafter a period of 6 months "House Quarantine" will be required.
Yes, Cyprus has a high standard health and medical care, which is not expensive. National Hospital fees are low and for those that prefer private treatment there are many private hospitals, clinics and medical centres covering all medicine fields.
Greek is the main language spoken in Cyprus but as Cyprus was a British Colony over 90% of the population speaks English. Akreo Property Consultants and Estate Agents have associates that speak apart from Greek and English, also Italian, German, French and Russian.
Under the Aliens and Immigration Law, non-Cypriots wishing to take up employment in Cyprus are required to have a work permit. EU citizens can acquire one very easily, just by having the approval of the Ministry of Labour. As a formality they are required to complete an application form.
What does the Cypriot Education System has to offer?
Apart from Local schools Junior and Secondary there are also Private Junior, Secondary and Collages for non-Cypriots students of very high standards, which follow the UK curriculum and achieve excellent GCSE and A Level results. The cost of such schools is average around £2,500 per annum. Additionally there are Collages of higher education that co-operate with Universities around the world and the University of Cyprus.
From the 1st May 2004 Cyprus became a full member of the EU and one of the main treaties was to avoid double taxation to income earned. So as a Citizen of the EU if you stay in Cyprus for a period of 183 days continuously you are considered as a resident and you will be subject to taxation on your worldwide income.
For example, you may take the advantage of the double taxation treaty. This means pensions and investments income can be received in Cyprus free of your own country withholding tax. This treaty is unique due to that Cyprus treaty includes both public and private sector pensions.
Taxation in Cyprus is still low comparison to other Countries.
Pensioners who become residents in Cyprus are taxed on their pensions received from abroad at the rate of 5%, for amounts exceeding £2,000 annually. No tax is paid in the country of origin if a double taxation treaty exists. As for Cypriot residence annual income up to £10,000, tax is exempt.
Double taxation treaties were made in order to avoid paying taxes in two countries. This gives the option to the citizens living in Cyprus to take advantage of the lox tax rate in Cyprus.
The following countries have double-tax treaties with Cyprus ( an* indicates that the treaty is awaiting ratification) :
Armenia*, Austria, Belgium, Bulgaria, Canada, China, CIS (ex-USSR), Czech Republic, Denmark, Egypt, Germany, Finland*, France, Greece, Hungary, India, Ireland, Italy, Japan*, Kuwait, Lebanon, Malta, Mauritius islands, Norway, Poland, Romania, Russia, Singapore*, Slovakia, South Africa*, Sweden, Seychelles*, San Marino*, Syria, Thailand, Ukraine*, United Kingdom, United States, Yugoslavia ( Serbia and Montenegro ).
Are Properties loaded with VAT when purchased in Cyprus?
A 15% VAT on new build properties is added to the asking price ( Sometimes is included ) with an exception of projects and buildings which have already applied for the planning permit prior 1st May 2004. The 15% VAT affects all new projects coming into the market, but the price increase is closer to 5% due to a law which refunds 10% of the VAT to the first time buyers on a certain defined criteria for prices, size and years residency. Land and building sites are for the time being exempted from VAT. It is estimated that VAT will be added to land and building sites somewhere from 1/1/2008 to 1/6/2008.
Crime rate in Cyprus is very low nearly inexistent. That’s why Cyprus is such a popular destination for tourists and immigrants. Street criminality is absent.
Yes it is advisable to make a will in any country where you have immovable assets that you would like to pass on in a certain way, why should Cyprus be an exemption? However Inheritance tax has been abolished in Cyprus.
By Law, a non-Cypriot who owns property in Cyprus in entitled to a residence permit, but is not required to hold a permanent residence permit. For EU citizens there are no restrictions. As a formality, they are required to complete an application form at the Immigration Office; they then automatically receive their residence permit. For non-EU citizens there is a straightforward procedure to be followed. However, permanent residence is easy to obtain.
The applicant needs to submit an application and provide proof that he and his family are self supported. The following documents must accompany the application:
A copy of the sale/rental agreement
Copies of pension/retirement income
Any other documents relevant to income
Three photos and passport.
The application for permanent residence may be submitted to the local Immigration Office in the area of residence.
