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Have you ever dreamed of swapping the UK’s grey skies for the sunshine of Cyprus? The Mediterranean island has quickly become an excellent option for those looking to begin a new life phase. With its vibrant culture, stunning landscapes, and affordable living, it’s no surprise that thousands are moving to Cyprus each year.
In fact, according to recent data from the Cyprus Ministry of Interior, more than 25,000 people relocated to Cyprus in 2024. Whether for work, retirement, or just a change of scenery, people are moving to Cyprus from UK in record numbers. This comprehensive guide will provide expert tips, practical advice, and detailed insights on everything you need to know.
The island boasts over 300 days of sunshine annually, making life in Cyprus for expats always perfect. The island’s dynamic culture, picturesque surroundings, and warm-hearted locals make it an inviting place for newcomers. According to the Expat Insider 2024 survey by InterNations, Cyprus ranks among the top 20 countries globally for expats due to its combination of economic advantages, high quality of life, and strong expat communities.
Here are the opportunities the island gives to foreigners:
To work in Cyprus as a foreigner, you’ll need a valid work authorization, typically arranged with your company’s help. Start your job search on platforms like CyprusJobs.com or through recruitment agencies, and ensure you have the necessary permit before starting your job.
Cyprus offers an attractive range of benefits for retirees, making it one of the top destinations for those looking to enjoy a peaceful Mediterranean lifestyle. The country’s tax regime is particularly favorable for expats and retirees.
Why Move to Cyprus?
The island boasts over 300 days of sunshine annually, making life in Cyprus for expats always perfect. The island’s dynamic culture, picturesque surroundings, and warm-hearted locals make it an inviting place for newcomers. According to the Expat Insider 2024 survey by InterNations, Cyprus ranks among the top 20 countries globally for expats due to its combination of economic advantages, high quality of life, and strong expat communities.
Here are the opportunities the island gives to foreigners:
Employment & Salaries
Working in Cyprus as a foreigner is very attractive. Salaries are competitive, particularly in finance and IT. For example, a financial analyst earns an average salary of €30,000–€40,000 per year, while a software engineer can earn around €40,000–€55,000 annually. The cost of living is low enough for expats to enjoy a comfortable lifestyle, even on moderate salaries. Learn the table before the next move:| Job Title | Average Annual Salary | Details |
| Financial Analyst | €30,000 – €40,000 | Competitive salaries in the finance sector, with good growth opportunities. |
| Software Engineer | €40,000 – €55,000 | High demand for IT professionals, especially in the tech industry. |
| Accountant | €25,000 – €35,000 | Steady demand in both corporate and small business sectors. |
| Civil Engineer | €35,000 – €45,000 | Growing construction and infrastructure projects drive demand. |
| Teacher | €20,000 – €30,000 | Popular among expats, especially in international schools. |
| Hospitality Manager | €25,000 – €35,000 | The thriving tourism industry offers many opportunities in this sector. |
Business Opportunities
The low VAT rate and significant tax incentives for foreign investors are well-known. More than 4,000 new businesses were established in Cyprus in 2024, as we trust the Cyprus Chamber of Commerce and Industry. Popular sectors for expat entrepreneurs include tourism, property, finance, and information technology. Expats interested in starting a business can expect an easy process with minimal paperwork.
- Corporate Tax Rate: Cyprus maintains a competitive corporate tax rate of 12.5%, one of the most affordable in the European Union.
- Dividend Income: According to PwC Tax Summaries, dividends are tax-free in Cyprus if the company is a tax resident and the dividends come from a company that pays at least 6% tax in its home country, along with a few other conditions.
- Capital Gains Tax: Cyprus charges capital gains tax only when you sell land or buildings in Cyprus or sell shares in a company that owns land or buildings in Cyprus. If you sell anything else, like stocks in companies that don’t own property in Cyprus, there’s no capital gains tax.
- Double Tax Treaties: Cyprus has deals with over 60 countries, including the US and the UK, so you don’t get taxed twice on the same income. These agreements ensure that if you earn income in one country, you won’t be taxed on it again in another.
Benefits for Retirees
Cyprus offers an attractive range of benefits for retirees, making it one of the top destinations for those looking to enjoy a peaceful Mediterranean lifestyle. The country’s tax regime is particularly favorable for expats and retirees.
- Non-Domiciled Tax Regime: Expats can take advantage of the non-domiciled tax regime, which provides significant exemptions for foreign income. This includes a dividend and interest income exemption for up to 17 years, making Cyprus especially appealing for those with investment income or pensions.
- Favorable Pension Taxation: Pensions from abroad are taxed at just 5% after the first €3,420, which is highly attractive to retirees looking for a low-tax destination. This benefit helps preserve a more significant portion of pension income.
Cost of Living in Cyprus
Low living costs in Cyprus are one of its main attractions. Housing, groceries, and services are significantly cheaper than in many Western European countries, mainly the UK. Citizens of the EU, the US, Asia, and the UK are drawn to Cyprus for its combination of a high quality of life. But how much does it cost to live there? Let’s compare it with the UK.
- Housing: Rent for a one-bedroom apartment in the city center ranges from €650 to €1,000 per month, while in the UK, especially in cities like London, it typically ranges from £1,400 to £2,500 per month.
- Dining Out: A three-course meal costs around €25 per person in Cyprus, whereas in the UK, it usually costs between £30 and £60 per person, depending on the city.
- Healthcare: Cyprus offers high-quality healthcare. The General Healthcare System (GHS) is affordable, and expats can access it through the public system. Private health insurance is also an option, with costs typically ranging from €50 to €150 per month for an individual.
- Utilities: Monthly utilities (electricity, water, heating, garbage, etc.) for an 85m² apartment in Cyprus typically cost €100 to €150 per month, which is much lower than the £200 to £350 you’d normally pay in the UK.
- Monthly Expenses: In Cyprus, monthly expenses typically range from €1,200 to €1,500, depending on lifestyle, while in the UK, expenses for a similar lifestyle can range from £1,800 to £2,500, excluding rent.
Can I Move to Cyprus from the UK?
Moving to Cyprus is an appealing option for many, but the process depends on where you’re coming from. Here’s a simplified guide for people from different regions:- EU Citizens: If you’re from an EU country, you’re in luck! You don’t need a visa to move to Cyprus. You can live, work, and study here with minimal paperwork. If you plan to live in Cyprus for over 90 days, you must notify the Civil Registry and Migration Department after a few months.
- US Citizens: US citizens need a visa to move to Cyprus. You can apply for a work visa, student visa, or residency permit, depending on your plans. When submitting a visa application, be prepared to show proof of how you can support yourself financially.
- Asian Citizens: If you’re from Asia, the rules vary based on nationality. Most Asian citizens must apply for a visa for employment, education, or family reasons. It’s advisable to contact the Cyprus embassy for specific details based on your country of origin.
- UK Citizens: After Brexit, UK citizens need a visa to move to Cyprus, just like other non-EU nationals. If you want to stay long-term, you’ll need a residency and possibly a work permit if you plan to work.
Long-Term Stays
If you’re from outside the EU and plan to stay in Cyprus long-term, you must submit an application for extended stay residency. This means you’ll need to show that you can support yourself financially (for example, with a job or savings), have health insurance, and have a place to live. For EU citizens, the procedure is less complicated. You don’t need the same paperwork, but you’ll need to register with the local government office after a few months to stay longer.Necessary Documents
In addition to the standard set of documents, which typically includes your passport, photo, proof of financial stability, and confirmation of where you will be living, you may also need the following:- Visa: If you’re from outside the EU and want to stay in Cyprus for over 90 days, you’ll need a visa. You can easily apply for one at the Cyprus embassy or consulate in your home country.
- Work Permit: If you plan to work in Cyprus and are not from the EU, you’ll need a work permit. Your employer can usually help with the process, or you can apply directly at the immigration office.
- Residence Permit: If you plan to live in Cyprus for an extended period, you must get a residence card. Non-EU citizens can request it at the local immigration office after arriving.
Key Steps for Relocating to Cyprus
Relocating to Cyprus involves several key steps that ensure your relocation goes smoothly. These steps will help you stay organized and prepared, from securing the necessary documentation to finding a home. Whether you’re moving to Cyprus for work, retirement, or business, this section breaks down the steps to help you get settled without hassle. Here are the essential tasks for a successful move:- Organize Your Documents: Ensure you have all necessary documents, such as a valid passport, proof of health insurance, and financial statements. If you plan to work, secure a job offer and work permit in advance.
- Find a Place to Live: Cyprus offers various housing options, including traditional homes, apartments, and modern villas. Research areas to find a location that suits your lifestyle and budget.
- Hire a Relocation Service: Many people find that hiring a relocation service can save time and reduce stress. These services help with the logistics of moving, like shipping belongings, navigating local regulations, and settling in.
Is Cyprus Right for You?
Relocating to Cyprus offers various benefits, from its sunny climate and stunning landscapes to its affordable living costs and the growing job market. Whether you’re seeking new career opportunities, a peaceful retirement, or simply a change of pace, Cyprus stands out as an ideal place for expats. Thousands of people moved to Cyprus in 2024; now, it could be your turn. You can visit the Cyprus Government Portal and the Cyprus Tourism Organization for more detailed information on residency, visas, and living in Cyprus.
