10 reasons to move to Cyprus

1) Cyprus Climate.

With over 300 days of sunshine a year with an average of 11.5 hours per day during the summer, Cyprus is a top destination those looking to enjoy a Mediterranean climate. Here is what you would expect year round:

• Summers (May to September): Long, dry, and hot. Temperatures can be high, especially in the central plain, reaching 30°C or higher.
• Winters (November to March): Mild and relatively wet. Average temperatures range from 13-15°C. Rainfall is more common during this period.
• Spring and Autumn: Short transitional seasons with rapid weather changes.
• Sunshine: Cyprus enjoys a very sunny climate. The average number of hours of bright sunshine for the entire year is 75% of the time the sun is above the horizon, according to the Ministry of Foreign Affairs.
• Rainfall: Average annual rainfall is around 375 mm, with more precipitation in the mountainous western regions and the highest amounts on the Troodos Mountains.
  Wind: Wind is usually gentle, but it can be stronger during the winter months.
• Humidity: Air humidity is generally higher in winter (60-80%) and lower in summer (40-60%).

2) Cyprus Taxation

Personal Tax Benefits

• Tax-Free Allowance: Individuals can earn up to €19,500 annually without paying income tax.
• Progressive Tax System: Income is taxed at rates ranging from 20% to 35%, based on income level.
• Non-Domicile Benefits: Non-domiciled individuals are exempt from the Special Defence Contribution (SDC) on foreign income including dividends, interest, and rental income for up to 17 years.
• Favourable Pension Taxation: Foreign pension income above €3,420 annually is taxed at a flat rate of 5%, with the alternative option to be taxed under standard income tax rates.
• Capital Gains Tax Relief: No capital gains tax is imposed on the sale of shares, securities, or overseas property.

Corporate Tax Benefits

• Low Corporate Tax: Company profits are taxed at a flat rate of 12.5%.
• Attractive IP Box Regime: Qualifying income from intellectual property benefits from an effective tax rate of just 2.5%.
• Dividend Income Exemption: Dividends received are exempt from tax, subject to specific conditions.
• Capital Gains Exemptions: No tax is levied on profits from the sale of securities.
  Group Loss Relief: Losses incurred by one group company can be used to offset profits of another group company within Cyprus.

VAT Advantages

Cyprus follows the standard EU VAT framework with additional benefits for businesses:

• Reduced VAT Rate: A lower rate of 5% applies to specific goods and services.
• VAT Registration Exemptions: Businesses with low annual turnover or those engaged exclusively in exports may be exempt from VAT registration requirements.

3) Healthcare

Cyprus has an excellent healthcare system which is deemed by the World Health Organisation to be on a par with those of other developed countries. It is inexpensive and trusted not only by local residents, but also by foreign nationals who travel to Cyprus for health reasons.

4) Education

The Cyprus education system (which is based on UK standards) is centrally managed by the Ministry of Education and Culture (MoEC) and offers public and private education at all levels. This includes pre-primary, primary, secondary and higher education. Compulsory education spans from the age of four years and eight months to fifteen years.

5) Crime

Cyprus generally has a lower crime rate than many other EU countries, particularly regarding violent crime, leaving to relax and enjoy your new life on the island.

6) Property Prices

Accommodation costs remain relatively low compared to the UK.

7) Legal and Banking

Cyprus boasts a well-regulated banking sector overseen by the Central Bank of Cyprus (CBC), which adheres to EU regulations and international standards. The Cyprus legal system is based heavily on the English model, incorporating the principles of common law and equity. As a member of the European Union, Cyprus is subject to EU law.

8) English is widely spoken

It might come as a surprise, but English is widely spoken across Cyprus. For many considering a move abroad, language barriers are a common concern—but in Cyprus, that’s rarely an issue.
Today, English is commonly used in everyday life, from business and education to public services, often at a high conversational level. That said, picking up some basic Greek is always a good idea. It’s a great way to connect with locals and build good relationships in your community.

9) Plenty of fresh air with low pollution levels

Cyprus has very little heavy industry so there aren’t many industrial contaminants in the air, land, or water. People with respiratory disorders like asthma may even see a reduction in their symptoms and the air generally feels cleaner.

10) People drive on the left side of the road

Cyprus is right-hand drive (on the left side of the road) and has well-known traffic laws and road signs because of its UK ancestry, which makes it simple for UK migrants to become used to the road conditions.