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Living Standard
Cypriot residents enjoy a high standard of living at an amazingly low cost
compared to other parts of Europe. Add low level taxation and a unique agreement
allowing UK pensions to be received free of UK withholding tax and it's
easy to see why your money will go a lot further on the island.
Clearly, independent tax advice should be sought, but overall the total
tax liability for many overseas residents residing on Cyprus can be very
low. Foreign residents living on the island pay income tax at just 20% with
the first CT£10,000 of income exempt.
The Cypriot economic performance has been good of recent years, with inflation
less than 3% and economic growth exceeding 4%, the economy is in robust
health.
But quality of life is not just about cost. It is generally recognized that
a stress-free existence coupled with a good diet will prolong your life
and Cyprus abounds in life-enhancing cultural influences from Europe, Africa
and the Middle East.
Currently, unleaded petrol costs CY£0.52 per litre and diesel just
CT£0.42 per litre. A good bottle of locally produced wine is just
CY£2.40.
Typical Cypriot dishes include "Meze" a buffet meal of up to 20
different dishes designed to share. Other specialities are "Stifado"
(A meat casserole) and "Souvalki" (A marinated and grilled kebab).
Check out our Eating Out Section.
Whatever your taste, Cyprus caters for it. The island's long history with
the UK ensures that all of your favorites are available. There is even a
Mothercare, Woolworths and Marks & Spencers on the island. |
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| Featured
Property |
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Exclusive
- Off-plan development of
luxury bungalows and villas in Innia Village
- Polis - Paphos - Cyprus
This development of 6 luxury bungalows and
2 villas is situated on the outskirts of Innia,
one of the most traditional and beautiful
villages in the Paphos area
View
property |
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Click Here to Explore
Cyprus.
Our Latest Cyprus Newsletter
partners
Investment Property In Cyprus - Partner Programme
Overseas property ownership jumps
45%
Over the last two years the number of overseas property owners
has increased by a staggering 45%, with 250,000 more households
now owning an overseas property than in June 2004.
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