A brief introduction to Cyprus
Cyprus, the third largest island in the Mediterranean, and
for thousands of years a trading centre due to its location
at the crossroads of Europe, Africa and Asia, has become
a leading holiday destination, due to its excellent climate
with very warm, dry summers and mild winters, combined with
a wide variety of natural beauty, famous historical sights,
rich culture, and above all, friendly and welcoming inhabitants,
which combine to offer a safe environment for residence
and investments.
A short-listed potential member of the next group of countries
to join the European Union, Cyprus offers unique opportunities
for those wishing to acquire real estate at extremely favourable
prices with excellent future investment potential, and in
a most desirable location.
The
Climate
One of the healthiest and sunniest anywhere in the
globe including the four seasons cycle, with temperature
ranging from 10° C (50° F) in January the coldest month
to 38° C (100° F) in August the hottest month. The main
rainfall occurs during December-March with snow on the montains
giving a lush and colourful spring time, with no rainfall
between June and September, the end of the summer can be
parched and dusty leading to rich Autumn colours.
System of Government
Cyprus is an independent and Sovereign republic
with the elected president (5 year election cycle) as head
of state. The legislation power lies with the elected House
Of Representatives and appointed council of ministers. The
legal system is based on the British/European system with
independent power exercised by the judiciary. Cyprus is
a member of the U.N. the British Commonwealth, the non-aligned
movement, world bank and I.M.F. with associate membership
of the EEC (full membership negotiations taking place).
Languages
Obviously the main language to be spoken in Cyprus
is Greek
Cypriot, but over 85% of the population speak English, as
Cyprus was once an English colony. Most of the shop signs,
street signs and road markings are all in English.
Currency/Banking
The Cyprus banking system is very similar to the
English system. As a foreigner you will need to open an
external Bank Account.
There are many International banks throughout the Island.
Most credit cards are accepted and used in Cyprus such as
Visa, American Express, Diners club and Master Card. Once
you have become a permanent resident then you can open an
Internal Bank Account. It is also advisable after purchasing
your property and opening a Bank Account to make arrangements
to have all your bills paid by Standing Order, as this method
of payment is especially convenient, when not permanently
residing in the country. The currency system is a decimal
with one Cyprus pound made up of 100 cents. Coins are issued
from 1 cent to 50 cents with bank note denominations of
1, 5, 10 and 20, the exchange rate in relation to other
currencies is issued daily by the central bank. There are
both domestic and foreign banks operational within Cyprus,
to international standard offering a range of services,
from investment, H.P. to mortgage facilities. Banks are
normally open between 8.30-12.30, Monday-Friday.
Weights and Measures
In Cyprus the weight and measures system used is metric
(Kilos, Litres, Kilometers and Meters).
Shopping in Cyprus is less hectic than in most European
countries and it is a casual and relaxed experience offering
you time to browse around at your own leisure.
Food
Cyprus offers an excellent variety of fresh and
inexpensive fruit, vegetables meat and fish. Also the large
hypermarkets offer a wide selection of imported commodities,
because of the Paphos climate an abundance of fresh fruit
and vegetables grow throughout the year such as, bananas,
oranges, mandarins, apples, melons, avocados, tomatoes,
cucumbers and potatoes.
Alcohol and Tabacco
Cyprus offers an excellent selection of local and vintage
wines and spirits and they are very reasonably priced. A
good bottle of red wine for example Othello can be purchased
for £CY 2.00 and a good medium sweet wine can be purchased
for £CY 1.70.
Another speciality of Cyprus is the brandy you can buy a
good quality brandy for £CY 3.00.The price of cigarettes
range from £CY 0.90 to £CY 1.60 for a packet
of twenty.
Clothing
Most of the clothes can be bought at very reasonable prices
a
made to measure suit will cost £CY 50.00. Children's and
baby clothes are reasonably priced too. Also men and women's
leather shoes are of very good value and quality and start
from around £CY 10.00 a pair.
Domestic Appliances
A wide variety of electrical appliances with leading
brand names are available and for the last few years have
become very competitive in price for example a Washing Machine
£CY 150.00, Tumble Dryer £CY 170.00 and a Fridge
Freezer £CY 190.00. All reputable companies offer one-year
warranty, on their electrical products.
Medical Services
Medical Health Care in Cyprus is at very high standard and
the Doctors, Physicians and Surgeons are very highly qualified
the Private Medical Clinics cover every field in medicine,
and Private Health Care Insurance is relatively inexpensive
and can be arranged through an Insurance company or through
your Bank. Also the General Hospital offers Health Care
to Foreigners once you have become a permanent resident
for a small annual fee. Pharmacists are very well informed
and may save you a trip to the Doctor. Most pharmaceutical
products in Cyprus can be brought directly over the counter.
Air Travel
In Cyprus there are two International Airports at Larnaca
and Paphos. This is why Paphos is an ideal place for permanent
or vacation purposes being only a 20 minutes car journey.
Communications
Telephone and Postal communication is efficient and reasonably
priced. International calls, cheap rate period is after
8 pm and all day Sunday with calls costing as low as 16
cents per minute. Mobile telephones are very easily excisable
and International rates are very low. Telephone cards can
be purchased from Kiosks and Supermarkets and the costs
are £CY 3.00, £CY 5.00 and £CY 10.00. Postal
costs Internationally are 26 Cents for a Post card and 31
Cents for a letter.
Church Services
Cyprus is mainly a Greek Orthodox Country, but other religions
such as Anglican and Catholic hold regular Sunday services
and special Religious services at Christmas and Easter.
Duty-free
Services
You are allowed to purchase a duty free car, yacht and all
of your household personnel effects free of import levy,
when moving to Cyprus.
Education
In Cyprus there are Kindergarten Schools, Junior and Secondary
Schools catering for Cypriot and foreign students, but if
you want your child to attend a Government School then a
comprehensible knowledge of the Cypriot language is essential.
The International School in Paphos is a very well established
School with excellent results of achievement.
The Family Pets
If you wish to bring your pet dog or cat from a European
country, then they must have had all the necessary vaccinations.
This system may change as the system of pet tagging with
a computer microchip placed in the animal's ear by a Veterinary
Surgeon has started to take over. This system is enforced
by the EEC as this form of animal identification is known
as a "pet Passport," allowing animal owners to travel freely
around Europe with their pets.
Low Taxation
Cyprus has a unique treaty when it comes to tax. Take advantage
of the Double Taxation Treaty. This enables United Kingdom
Citizens to receive their pensions and investment income
in Cyprus free of UK withholding tax. So whether you have
a private or public pension this includes both. Insurance
pensions can also be paid the same Tax-free system basis,
and these are index linked by Reciprocal Agreement.
