Information on Retiring in Cyprus
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Cyprus is becoming a popular place for retirement because it has many advantages including the easy going lifestyle and the warm weather. Being able to escape from the dreary British winters is a big plus for many people, particularly for people whose health is affected by the cold and damp. Cyprus is known to be safe, as it has a low crime rate compared to many other European countries. It has a low cost of living, in fact is among the cheapest in Europe and excellent medical treatment is available. Private doctors and specialists are easy to find and government hospitals are excellent, offering low cost medical treatment.
The warm weather throughout the year and the low cost of living are huge attractions for those wishing to retire to Cyprus but it has many other advantages. The banking and legal systems are almost the same as the system in the UK and will be easy to use for those from the UK. The transition to Cyprus is thus much easier. There are also tax incentives which allow British citizens in receipt of a pension or investment income to receive them tax free.
Throughout Cyprus, English is spoken, usually extremely well, therefore you won’t have communication problems. The infrastructure is modern with excellent facilities on a par with those in other European countries. You will find plenty of fresh fruit and vegetables, grown locally and the lifestyle in this ideal climate, with moderately low humidity is conducive to good health. This may be specially significant for sufferers of rheumatism or any other problems that worsen in the damp, cold winter in the UK.
Official Procedures for Retiring in Cyprus
Paperwork needs to be filled out and submitted so that you can become a permanent resident of Cyprus. Initially you will need to apply at the Migration Department of Cyprus for a residency permit. In Cyprus you will need to fill out an M67 form, obtainable from the local immigration office to apply for permanent residency. For those who are retiring the category needed is F. You will need to provide evidence that you have sufficient income to support yourself such as income from investments or a pension,
Being approved as a category F immigrant means you cannot work, even voluntarily, or operate a business so you must have ample funds to sustain yourself and any dependents. pensions from the UK can be paid directly into a local bank account in Cyprus and, through an agreement with the UK government will be index linked so all pension increases will be paid in the same way as if you were still living in the UK.
In Conclusion
Cyprus is increasingly becoming popular as a retirement destination for those from Northern Europe and the UK. The lifestyle is familiar, although more relaxed, and the transition is relatively trouble free. If you are considering retiring somewhere in the sun, investigate Cyprus as an ideal location to enjoy a relaxed retirement.
To find out more about Cyprus or for information on retiring in Cyprus visit Property for Sale in Cyprus
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