Why it’s time to make your move
Moving to Cyprus / January 12, 2021 / 3 min. read
Why move to Cyprus from UK ?
If you’ve been considering moving to Cyprus for some time or are curious to find out more, here is a good place to start!
Many people before you have made the great decision to move themselves, their business, and/or their family to the sunny Mediterranean island of Cyprus. For the longest time Cyprus has been an ideal destination for UK nationals to base themselves because of the great weather, quality of lifestyle, affordability and much, much more.
If you’ve been considering your next move, here is a top 5 list of reasons why you should make the move to Cyprus from UK in 2021.
Top 5 Reasons to Move to Cyprus in 2021
1. Expat Community
Amazing weather. Easy going lifestyle. High quality of living.
These are just a handful of many reasons why 60,000 British already call this Mediterranean island home. As a former British colony, a good part of Cyprus’ modern identity took shape as a result of their former colonial ruler’s presence (like driving on the left hand side and widely spoken English). The English style of pubs, clubs, cuisine, culture and language has made its mark in Cyprus.
A solid community of British expats makes Cyprus feel like a home away from home.
2. Optimise Your Taxation
Cyprus is probably the best destination in Europe for individuals or businesses to enjoy a healthy mix of work and pleasure.
In Cyprus, you enjoy the freedom of accessing your UK pension taxed at a flat rate of only 5% on amounts exceeding EUR3,420 per annum. Furthermore, with 0% Cyprus Inheritance Tax and Gift Tax, there will not be any tax when you want to transfer your Cyprus property to your loved ones.
Cyprus also offers a favourable environment for business relocation and development. Cyprus is one of the lowest European tax jurisdictions, with corporate business profits taxed at 12.5%.
3. Keep Yourself in the EU!
Although Brexit remains a divisive issue in the UK, the benefits of living in the EU cannot be ignored.
Cyprus Residency allows for you and your family members the freedom to travel to other countries within the European Union (as you had enjoyed pre-Brexit). Along with being one of the safest countries in the world, Cyprus also offers a unique strategic location at the crossroads of Europe, Asia and Africa.
After 7 years of uninterrupted residence in Cyprus, you can also apply for a Cyprus passport for you and your family (dual citizenship is permitted).
4. Great Weather All Year Round!
We all know Cyprus has great weather but it must be said!
It comes as no surprise that the majority of Cyprus based Brits live within close proximity of coastline. Cyprus enjoys well over 300+ days of sunshine per year, and offers snow in the Troodos mountains (for those of you who love to mix it up). Average annual coastal temperatures range from 24°C in the day to 14°C in the night.
An unbeatable combination of sun, sea and mountains ensures Cyprus’ status as one of the top liveable destinations in the Mediterranean.
5. Promising Economic Future
Despite losing substantial revenue from axing the Cyprus passport program, the economic future in Cyprus looks bright.
With development of world class Marinas and Golfing Resorts, coupled with discoveries of large natural gas reserves in the Mediterranean, these projects look set to contribute billions of Euros to the Cyprus economy.
Thinking of your next move?
There are many great reasons to move to Cyprus from the UK but every individual case is different. Many different aspects of moving must be considered before making the move to Cyprus. Moving can be a difficult process but it doesn’t have to be.
If you’re thinking of your next move get in contact with us today to see how we can help you.
I’M CONSIDERING MOVING TO CYPRUS
