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Buying a Home in Cyprus
30
A Practical Guide to Successful Real Estate Purchase - Top Tips Supplement

Top Tips for those planning to emigrate
It used to be the case that the majority of British expatriates living in
Cyprus were mature couples looking to enjoy their retirement in the sun.
The majority of these were retired professionals and former service
personnel who had sufficient financial resources to enjoy the ‘good life’.
In addition, Cyprus attracted many offshore companies due to its
favourable tax regime. These included overseas branches of foreign
businesses operating in the region, import/export companies, etc. The
majority of those running these business make a very good living and
many have settled here permanently with their families.
Other enterprising individuals, realising that there was a hole in the
market, moved to Cyprus and set up various trade and services
companies focusing on the needs of the expatriate community.
But things changed in 2004 when Cyprus acceded to the European
Union. Britons and other EU citizens wishing to work in Cyprus found it
much easier to do so as the laws and processes involved in obtaining
work permits were either relaxed or removed completely. As a
consequence younger people, often with families, moved to the island
hoping to enjoy a better lifestyle and a better environment in which to
bring up their children. Their experiences and successes have been
mixed.
Some of the newer arrivals have visited Cyprus on holiday and believe
they will be able to get off the plane and walk into a job. The reality,
unfortunately, is somewhat different. Finding well-paid employment in
Cyprus can difficult if you do not have a good command of the Greek
language or a specialist skill. But if you have the necessary drive,
determination and ambition, you can make a living here, although typical
salaries are lower than those in the UK.
© Nigel Howarth
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