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Reasons to move your business to Cyprus
Cyprus lies where history, continents, rich scenery and quality of life meet. The island has received a lot of foreigners during the last years and it has attracted millions of tourists, becoming a...
Cyprus lies where history, continents, rich scenery and quality of life meet. The island has received a lot of foreigners during the last years and it has attracted millions of tourists, becoming a must-see destination in Europe. It is known to be one of the ultimate summer destinations as eternal summer is taking over. With 300 to 340 sunny days a year, Cyprus climate is considered to be a healthy environment to “embrace” everyone who commits to it. It is one of the countries with the lowest air pollution in the European Union to add a string to the bow.
Moving abroad can be a tough and challenging experience in life. Philosophers and modern writers have been stating that leaving the comfort zone equals broadening the horizons and turning to a new chapter but sometimes these quotes are less than applicable. However, if we take into careful consideration the fact that Cyprus has developed into a business-oriented factor that has been rapidly expanding its impact, attracting numerous investors, across the world, we will realize that there might be several important reasons for modern entrepreneurs to direct their attention to Cyprus.
What’s more is that Cyprus has been rapidly advancing during the last decades, skyrocketing its potentials to attract investors and entrepreneurs, along the way.
To set the scene, high living standards, top-notch quality of life and above all, safety and a sense of security are prevailing, making Cyprus one of the best destinations to be integrated into.
Apart from what’s been mentioned above, Cyprus has always been a landing place for retirees who want to spend their time in a peaceful island, with short distances, amicable residents, an excellent life quality, healthy weather and modern facilities that are tailored to their needs. Cyprus is, in every way, a distinctive destination to write home about and has a lot to offer to its residents, regardless of its small size and when it comes to communication there are no issues whatsoever as English is widely used and spoken all over the island, especially in the business sphere.
Quality of life in Cyprus
The little jewel of the Mediterranean Sea offers an exceptional life quality all-round as the standard healthcare system is excellent, providing for everyone who resides in the island, even for those who are foreigners with free medical care.
Food is more than enough and quality is the unit of measurement. Services are well-established. People are friendly. The island is a fusion between mountains and the seaside. Distances are short and therefore, routes become flexible. Prices are normal and the economy is gradually growing. As a result, quality is part of almost everything the island has to offer to those who choose it.
As a result, quality is part of almost everything the island has to offer to those who choose it. In addition to this, people in Cyprus prioritize and balance their personal and their working life. It comes as no surprise that Cypriots are always into enjoying all experiences and that life is too short not to enjoy the finest things of it. Coffee breaks and brunch are prevailing in the to-do list usually with the company of friends and family. Moreover, the low crime rates make life even safer and better, mostly for those who have families. It would be a serious omission if we didn’t elaborate a little more on the ample sunshine and the warm environment that surrounds the island in every sense, as both locals and the weather are equally warm and friendly.
Food is more than enough and quality is the unit of measurement. Services are well-established. People are friendly. The island is a fusion between mountains and the seaside. Distances are short and therefore, routes become flexible. Prices are normal and the economy is gradually growing. As a result, quality is part of almost everything the island has to offer to those who choose it.
As a result, quality is part of almost everything the island has to offer to those who choose it. In addition to this, people in Cyprus prioritize and balance their personal and their working life. It comes as no surprise that Cypriots are always into enjoying all experiences and that life is too short not to enjoy the finest things of it. Coffee breaks and brunch are prevailing in the to-do list usually with the company of friends and family. Moreover, the low crime rates make life even safer and better, mostly for those who have families. It would be a serious omission if we didn’t elaborate a little more on the ample sunshine and the warm environment that surrounds the island in every sense, as both locals and the weather are equally warm and friendly.
Weather in Cyprus
Eternally blistering summers cover the island almost all year long, spiriting the mood up and transforming the scenery around into a view feast, full of lights, colours and warmth. Sunshine is a constant phenomenon, reaching 340 days of sunlight, winters are fairly mild and one can engage in activities from taking a dip into the crystal-clear sea to climbing onto Troodos mountain for trekking or even skiing in the winter.
Cyprus climate is considered to be a healthy environment to “embrace” everyone who commits to it, plus it is one of the countries with the lowest air pollution in the European Union to add a string to the bow.
Cyprus climate is considered to be a healthy environment to “embrace” everyone who commits to it, plus it is one of the countries with the lowest air pollution in the European Union to add a string to the bow.
Tax in Cyprus
The attractive tax system, with one of the lowest corporate tax rates in the European Union (12.5%) encourages foreign investment in the island. There are no succession taxes and there’s also an exemption from tax on gains from the disposal of securities which facilitate the thought of investment even more.
Investing in Cyprus
Cyprus is undoubtedly an investment on its own. This small diamond of Southern Europe is at the intersection of three continents, Europe, Asia and Africa and it plays a major role when it comes to investments.
Tourism and hospitality have traditionally been significant factors that add to the growth of the economy in the island. It’s been a premium touristic destination for a long time now and the industry has been unceasingly accelerating its development more than ever, during the last decades.
A lot of other industries are on the rise regarding investments, such as Real Estate which attracts a great number of investors across the globe.
In sight of innovations, Cyprus has the potentials to develop into an energy hub in the Mediterranean Sea collaborating with more markets and expanding its influence among others.
Tourism and hospitality have traditionally been significant factors that add to the growth of the economy in the island. It’s been a premium touristic destination for a long time now and the industry has been unceasingly accelerating its development more than ever, during the last decades.
A lot of other industries are on the rise regarding investments, such as Real Estate which attracts a great number of investors across the globe.
In sight of innovations, Cyprus has the potentials to develop into an energy hub in the Mediterranean Sea collaborating with more markets and expanding its influence among others.
Is it safe to move to Cyprus?
Cyprus is considered to be one of the safest places in Europe to live in, with extremely low crime rates as it is a family-oriented country. The island is a top choice for families as children are safe and protected. It is highly possible for children to engage in outdoor activities and play outside without their parents having to worry about them. Other than that, locals, expats and tourists need to exercise the necessary precautionary measures that anyone anywhere would.
Is living in Cyprus expensive?
Compared with the rest of Europe, the cost of living in Cyprus is generally average which comes down to good news. People can build a fairly good life in the island, once they move there, find a stable job and settle. Food is fairly cheap, while housing prices might vary depending on the city and the zone one opts for.
Electricity rates are quite high in the island as the demand is enormous whereas water is relatively cheap. Internet is also average depending on the company. Transportation means is developed but there’s always room for improvement. Locals prefer to own a car and move around instead of taking a bus unless there’s a serious reason to do so. Last but not least, healthcare is accessible to everyone. There is a deduction from the salaries that directly goes for public health.
Electricity rates are quite high in the island as the demand is enormous whereas water is relatively cheap. Internet is also average depending on the company. Transportation means is developed but there’s always room for improvement. Locals prefer to own a car and move around instead of taking a bus unless there’s a serious reason to do so. Last but not least, healthcare is accessible to everyone. There is a deduction from the salaries that directly goes for public health.
All in all, Cyprus has a lot to offer to those who want to enjoy a contemporary lifestyle in a safe environment, under warm weather and surrounded by friendliness and cosiness. It is an amazing place for youngsters, families and retirees and it all depends on a combination of different factors mentioned above along with individual circumstances. But let’s be honest… it is better to make money, enjoy the sunlight and take a dip in the Mediterranean sea at the same time instead of waiting for this to happen during days off or holidays.
Some closing thoughts about moving to Cyprus? Well, if you have the chance to do it, you can always go ahead and try it out. Chances are that whenever you try to go to Cyprus, sunlight will be there to welcome you. No second thoughts.
Gregoris Philippou
Managing Partner
Managing Partner with a distinguished career in corporate and commercial law, trust law, tax law, property law, litigation, and immigration law. First-Class LL.B. from the University of Leicester and LL.M. from the University of Cambridge.
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