Moving to Cyprus - All you need to know

Moving to Cyprus - All you need to know

Although geographically Cyprus is closer to the Middle East, culturally, politically, historically and economically, it belongs to Europe. The country is a developed country in Europe, with a high per capita income and a very high rate of human development, and is one of the most important tourist destinations in the Mediterranean. All this significant growth that has taken place in recent years has magnetized many young people who have decided to stay permanently in this beautiful Mediterranean country. If you are thinking of taking this critical step in your life, you need to know some essential things.

Moving to Cyprus - All you need to know. Image Credits: Pixabay

Before you go

Ideally, before leaving for a permanent establishment in Cyprus, someone will have already found a job. Applications can be submitted electronically (here, here and here only some sites with jobs), while the same applies to interviews. So you should avoid an early installation in the country without first arranging all the other actions of your work.

​Work in the country

The economy of Cyprus is based on the tertiary production sector, and the sectors that are flourishing (mainly due to the Russian clientele) are the financial and legal services. Also, excellent knowledge of English is evident for all specialities. Especially for lawyers wishing to deal with local jurisdiction, they will have, for the most part, the comparative advantage over their English-educated colleagues, mainly in the handling of language and terminology in both written and spoken language.

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​Wages and taxation

The salaries of Cyprus mainly depend on the market in which you are. Civil servants' wages (government) are generally good (despite the cuts they have suffered), while their quality of life simply does not compare to the private sector. In general, the level of salaries is reasonable, and they offer the possibility of a comfortable living in the country. The salaries of Cyprus are flattered by the very favourable tax regime (especially in relation to Greece). With a tax-free amount of 19,500 euros, very reasonable contributions for immigrants within the first five years of settlement, the net income is not far from the gross and leaves a valuable breath for a decent living.

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​Creating a business

If you want to receive all the benefits of starting a business in the country of Cyprus, then you need to plan your every business activity carefully. The tax advantages offered by the country in combination with the continuous growth of the economy gives dozens of opportunities for young professionals to increase their profits through innovative business ideas. If you are considering setting up your own business there, you should consider all the necessary country legislation governing your overall business. This means that you should turn to the help of business lawyers in Cyprus that will represent you and work for your benefit.

​Transportation

In Cyprus, you will need a car. Life without a car is problematic (to say the least). A few  public transportation options are still in development which is doubtful when it will be completed. For the first time and for road transport from airports and cities see here and here. Car prices vary depending on what you want to buy. Also, in Cyprus, people rarely walk to get around. This is mainly due to the fact that the cities are sparsely populated and spread out in adverse weather conditions in summer.