Very straightforward process, with Cyprus banks modeled on the British ways. Makes overseas investment in Cyprus an easy option. Very modern, Internet banking becoming widely used.  As a foreign citizen, you may open foreign currency or deposit accounts as required.

Financial services are becoming more sophisticated in line with European counterparts, mortgages and re-mortgages are available with very attractive rates. Both offplan and re-sale opportunities are to be found through Oneworld Properties.  Subject to status mortgages are available up to 80%, with repayment schedules up to forty years. Oneworld Properties offer free independent financial advice to all potential clients.

Cyprus has a high standard of living compared to its’ European counterparts,  approximately 30% cheaper than the European average.

As a non resident, there is a formality of applying in writing to the Cypriot Council of Ministers. This is granted to all genuine buyers as a matter of course.

Foreign citizens residing in Cyprus are taxed at the rate of 5% on all incomes from pensions and overseas investments, such as savings, stocks and shares etc. The first 3419 Euros of income from these sources is tax exempt.

Yes, and there are a number of established rental and property management companies in Cyprus who will able to help you advertise your property for either long term rentals or holiday lets. Oneworld Properties will happily advise you if you need help.

No. According to the Laws of Cyprus, both Cypriot and Non Cypriot owners may sell their property to Cypriot and Non Cypriot buyers without restriction.

This generally depends on the location and size of the property.  The first legal consultation should be offered freely, at which time fixed charges may be negotiated, together with the services covered.  Charges should include submitting contracts to the Land Registry Office. As a guideline an average sliding scale would be from 855 euro – 2564 Euros according to size and location. Pricing for villas in Paphos would be higher than the equivalent villas in Larnaca, for example.

There are no inheritance or gift taxes  for property in Cyprus . British citizens are advised to seek clarification however, in case the British government attempt to levy UK inheritance tax.

Cyprus is within the European Union, therefore any European citizen may live and work in Cyprus.  Non E.U. citizens however will require a residence permit.