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About Cyprus
Cyprus is a mediterranean Island. It's called 'Island of Aphrodite', 'Island of Venus', 'Island of Sunshine', but locally it's called 'Kypru'.
Cyprus is located in the north-eastern corner of the Mediterranean and enjoys a warm climate with an average of 340 days of sunshine a year throughout 4 distinct seasons. Daytime coastal temperatures range from about 15°C in January to about 35°C in August. The mountain areas reach an altitude of 6300ft, offering much cooler temperatures from 4°C to 25°C in the same periods. There are daily flights from most of the main European airports.
Cyprus offers a rich and diverse landscape dominated by two mountain ranges, those of Pentadactylos in the north and in the central area is the Troodos range. 9000 years of history have inevitably left their mark and the island is rich with ancient Greek and Roman ruins, historical castles and fortresses that date back to the Crusaders. Most archeological sites are beautifully preserved and in many cases restored to use. Every town has museums, showing the best finds from the historical sites.
Cyprus has all that a sunny Mediterranean island should offer; blue skies, a clear sea, awarded with the "blue flag", sandy beaches, mountain forests and huge areas of unspoiled countryside. Its geographical location places it within a few short hours flight from most European cities and more than 35 airlines operate scheduled flights to the two international airports at Larnaca and Paphos.
With an area of 9251 sq.m and a population of 650,000, Cyprus is not densley populated. Most of the population resides in and around the 4 main towns od Nicosia, the Capital, Limassol, Larnaca and Paphos. The size of the island makes all areas within easy reach.Due to the wonderful climate and variety of scenery, the island offers endless opportunities for recreational activities. From comprehensive sports facilities to an endless choice of resturants, tavernas, pubs and clubs.
The island's greatest resource is its people, who are renowned for being friendly and hospitable. Cypriots have established a high standard of living for themselves, whilst retaining the traditional qualities of yesteryear, an indication of the very low crime rate on the island.
Climate
The mornings are deliciously warm - straight from bed to breakfast in the sunshine on the terrace, where another beautifully
warm morning awaits. You can sit in the sun watching the first sailboats leaving the harbour to catch the offshore breezes and start planning your day.
Cyprus has one of the healthiest climates on the planet. 340 days of sunshine every year and warm days of 16°C - 30°C from winter to summer.
Most rainfall occurs between November and March and the wettest month is generally January, which might have 10 days of rain.
Between May and September there is nornally 300 hours of sunshine a month, and often no rain in July and August. Solar heating is becoming popular as a result of this.
Safety and Security
Cyprus is one of the safest places in Europe. Cyprus has very low rates of both violent and street crime. Crime rates here are extremely low - a sixth of the European average - it's a very safe and law abiding place to visit and live. The law is based on the same principles as English law, with most laws translated into English.
Language
English is taught at most schools for two years and given the long association with Britain, there is a very warm welcome for British visitors and residents. Most road signs are bi-lingual and there are English newspapers and radio stations. Satellite TV is available.
Currency
The Cyprus pound is supported by a good banking system, with five major banks. These all adhere to the British method of banking. Weights and measures are metric. There is a well developed insurance industry on the island, which can handle all types of cover.
Healthcare
A wide range of medical practioners, specialists and consultants practice in private clinics and government hospitals throughout the island. All medical personnel are highly qualified from European and American Universities and Hospitals.
Medical care is available at both government hospitals and private clinics. Emergency rooms offer adequate care to stabilise patients, most of whom are then transferred to private hospitals. Many of the private sector doctors have been trained in the UK.
Education
There is a wide choice of school from nusery to secondary levl of a high standard. Colleges and Universities have a curriculum based on the British, Greek and French systems.
Food and Drink
The style of food is rather hearty than overcomplicated. It's better away from the tourist areas in the major resorts. Country tavernas generally offer the best menus. Portions are usually generous. The excellence of the wine is a real bonus and at good prices, so a night out tends to be inexpensive and a lot of fun. All the markets in Cyprus produce plentiful and inexpensive food. There are large supermarkets that are well stocked with local and imported food. Feeding 2 people for a week would cost you around J60.
Restuarants are not expensive - you should be able to eat and drink for around J7 per head.
Local wines and spirits are good value, and beer will cost around 50p a bottle, cigarettes J1 per packet. There are around 50 different labels from the vineyards and these are increasing steadily but with attention to quality.
The cuisine is best enjoyed at the invitation of a local person, never turn down down an invite. Souvia is very popular, a piece of chicken or lamb cooked slowly on an outside charcoal fire for 90 minutes, with the chance to try out the local wine. Try red Orthello, or white Alina. Greek salad is well known and the sheftalia sausages are always found in kebab resturants.
Breakfast tends to be light, and of the continental variety. Snacks are not a cypriot thing, so local snack bars are rare.
Shopping
Labelling is always in English and Greek in the supermarkets. Local dairy products are popular and you will find breakfast and picnic meals on display.
The central markets are recommended for farm produce and meat, there are bust street markets around for them. Bargaining is not
usual, though if goods are unmarked you can try for up to 20%.
Banking
Banking practices and the range of services available are similar to those in the UK and continental Europe. Well known, inetrnational banks are represented in Cyprus.
Cyprus has a double tax treaty, providing financial incentives for the expatriate community and offshore businesses. International accounting firms are well represented in this
country.
VAT/Tax
The government has backed down from introducing a full 15% VAT rate on new house purchases, agreeing on a 5% lower rate.
The government will submit proposals for special grants for first time buyers, depending on income levels and the size of the house. If these
satisfy the house, MPs may agree to up the rate to 15%, although this appears to be easier said than done.
The new indirect tax package has come in and the zero VAT rate on basic goods has been scrapped in line with undertakings made to Brussels. Under EU VAT rules, Cyprus was obliged to impose its current maximum rate of 15% for gas bottles, children's clothes and footwear.
For the others, the government opted to apply the lower arte of 5%, rather than the higher rate of 15%.
These are part of a list of 17 goods and services that may be subject to reduced rates of VAT under EU rules. Most EU member states apply low VAT rates in these cases because the goods and services involved are considered basics.
The cost of living will be affected slightly with 5%VAT imposed on water supply, books, magazines and newspapers, bus fares and equipment for invalids following the approval of the last batch of EU-related bills.
Two other basic goods included on the list are foodstuffs and pharmaceuticals where Cyprus has secured a derogation of 0% VAT until December 31, 2007. Nicosia has also secured a temporary derogation to applu only 5% on resturant bills until the end of 2007, and has already applied the minimum 5% permitted for hotel accomodation.
Offshore Companies
With more than 25,000 offshore entities registered in Cyprus, the island is now established as one of the world's primary financial and commercial
offshore centres. The Cyprus government has given a number of incentives for the formation to offshore companies. These include:
A low tax rate of 4.25% applicable to the net profits earned by the offshore companies and the total tax exceptions for the partnerships.
Duty free allowances for the companies and tehir expatriated personnel.
A low tax rate for the expatriated employees.
These advantages combined with the provisions of the Cypriot double tax treaties which regulates the tax relations of Cyprus, with over 40 countries
can produce unique opportunities of reduction in tax.
Retirement
Many people have chosen Cyprus as a place to retire. Easy living conditions, warm weather and a series of incentives given by the Cyprus Government to retired people has made the country an ideal location. These include duty free facilities and low taxation on their income which emanates from abroad. These poeple may also benefit under certain circumstances from the Double Tax Treaty which regulates the tax relations of Cyprus with over 40 countries.
The island's strategic position puts it within a few hours flying time from most European cities, Gulf countries and former Eastern bloc countries. More than 40 major airlines operate over 250 scheduled and chartered flights throughout the international airports of Larnaca and Paphos.
Communications
Telecommunications are amongst the best in the world and the postal services are fast and reliable. Many of the large international courier companies also operate on the island.
Media
The Cyprus Weekly is an English paper, rivalled by the Cyprus Mail. The Sunday 'What's On' section is particulary useful (chemist and petrol station details appear in here). Forgein newspapers
are pricey, prehaps J1.20 for the Times.
BBC WOrld Service is at 8.89FM. The forces broadcast in English on a number of frequencies, and you can even find the Archers
(24 hours broadcasting programme 1 on 92.1 and 99.6).
The local TC stations do feature a lot of forgein material with its original soundtrack, so you will find a lot of English programmes.
Festivals/Bank Holidays
Business hours operate around a typical siesta at midday.
Opening hours in summer are meant to be 0800-1300 and 1600-1930, with no afternoon opening on Wednesdays and Saturdays. In winter this becomes 0830-1800.
Public holidays tend to be religious in origin. When the dates fall on a Sunday, the Monday is usually the bank holiday.
Green Monday - comes at the end of 10 days of carnival, notably at Limassol. Easter is a major event, with parades bonfires and fireworks. The Festival of the Flood celebrates Noah, with people running into the sea and sprinkling one another with water.
There are non-bank holiday events such as flower festivals in May. The Limassol Wine Festival runs in the first half of September.
Government holidays are:
| 1 January | New Years Day |
| 6 January | Epiphany |
| 10 March | Green Monday |
| 25 March | Annunciation |
| 1 April | Southern Republic Day |
| 25 April | Good Friday |
| 28 April | Easter Monday |
| 1 May | Labour Day |
| 16 June | Festival of the Flood |
| 14 August | Assumption of the Virgin |
| 1 October | Cyprus Independence Day |
| 28 October | Greek National Day |
| 25 December | Christmas Day |
Sports and Entertainment
There are plenty of sporting activities. Exclusive clubs and health clubs offer a variety of indoor and outdoor sport facilities. Horse trekking is available and all the water sports - windsurfing, snorkelling, scuba diving and sailing. For the most adventurous, handgliding, paragliding and parachuting are all available at a short distance.
There are excellent diving opportunities and the rocky coves offer good snorkelling in the clear waters.
Golf is avilable at two new courses and it's possible to pre-book for a visit. Tennis is available in many places, it's very popular inj Cyprus.
Walkers, photographers and painters can all take advantage of the history, archeology and natural beauty of the island,a good way to see the island as well as enjoy a hobby.
Mountain biking is an excellent sport to enjoy in the Troodos. There are a number of marked trails, aiming at a one day trip. Hiking is equally as good.
In winter there is a ski resort at Mount Olympus and the snow can last until April. Four ski lifts operate in the peak season.
The mountains of Troodos offer endless ideas for leisure activities, long rambles through the pine forests, horse riding, picnics, angling in the streams and reservoirs.
Cost of Living
Cyprus has one of the highest per capita GNP in the Mediterranean. The cost of living is substantially lower than in most countries, yet reflects a comparable standard of living
and quality of life. Add a very low crime rate, low pollution ans you have an extremely attractive package.
Then take into account the tax advantages, duty free opportunities and a modest income will go much further in Cyprus.
A couple living in Cyprus can expect to require an income of about CYJ6K.
The first CYJ2000 of any investment income from forgein residents is tax free, including pensions,with the remainder subject to a flat rate 5% tax. Interest earned from forgein capital is excempt. The double taxation treaty with the UK means you do not pay UK tax if you reside in Cyprus.
Utilities
The costs are relatively inexpensive:
Electricity is charged as when you use it, with a minimal standing charge of two months. The supply is 240 volts and in most places the familiar square 3 pin sockets, though in some older places there could be older "Chelsea"
round 2 pin sockets. Expact an annual cost to be typically about J150.
Water is precious, and although there is a standing charge per two months of about J4, you can use a set amount and after that pay a minimal amount per gallon. Say CYJ32 per quarter.
The telephones is charged as you use, with a standing charge of about CYJ1.40 per month.
Sewers and street lighting is paid annually and generally is around CYJ40 to CYJ50, according to house size.
A one off connection charge is usually payable.
