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Cyprus, the sunlit island in the Mediterranean, blessed with 300 days of sunshine a year, picturesque sandy beaches, and a rich cultural history, is drawing an increasing number of Germans eager to begin a new chapter in their lives. Yet, relocating to Cyprus entails more than just an extended holiday. It demands thorough preparation and an understanding of the lifestyle and work environment on the island. In this article, we’ll provide you with a detailed guide on what to expect should you decide to make the move to Cyprus.
Important points at a glance:
Living in Cyprus
Weather: Cyprus is known for its pleasant climate. The island enjoys warm and sunny weather, which is ideal for lovers of the Mediterranean lifestyle.
Population: With a population of around 1.2 million people, Cyprus offers a community rich in culture and history.
History: Cyprus has a fascinating history dating back over 10,000 years. The island was a melting pot of different civilizations, from the Egyptians to the Greeks.
Living in Cyprus
Living in Cyprus offers a variety of options, from close to the beach to rural areas. The capital cities such as Nicosia, Limassol and Paphos offer the most job opportunities and a high quality of life.
Would you like to buy a property in Cyprus? A wide range of real estate is on offer.
Nicosia is the capital and cultural heart of Cyprus, while Limassol is known for its modern ambience and beaches. Paphos attracts many emigrants with its historical significance and picturesque landscape.
|
City |
Special features |
|
Nicosia |
Cultural center, capital city |
|
Limassol |
Modern coastal city, popular with expats |
|
Paphos |
Historical significance, picturesque surroundings |
Accommodation in Cyprus
Traffic and public transportation
Although Cyprus does not have a railroad system, getting around by bus or car is relatively easy. Most residents own a car, as this is the most flexible option. Public transportation is limited, but available in the larger cities.
Working in Cyprus
Cyprus has developed into an attractive location for various industries. The normal cost of living, combined with a corporate tax rate of just 12.5%, makes the island particularly attractive for tourism, outsourcing, i-gaming, IT and finance.
Industries with potential for emigrants:
Reasons why Cyprus is attractive for entrepreneurs and the self-employed
In recent years, Cyprus has established itself as an attractive location for entrepreneurs and the self-employed. The island not only offers a pleasant climate and a high quality of life, but also numerous economic and tax advantages that make it an ideal place to set up and run a business. Here are some reasons why Cyprus is particularly attractive for entrepreneurs and the self-employed:
Cyprus offers one of the lowest corporate tax rates in the European Union. With a tax rate of only 12.5% on company profits, Cyprus is an attractive country for entrepreneurs who want to minimize their tax burden. This low tax rate can significantly improve the profitability of companies and offers a strong incentive to set up a business on the island.
Cyprus’ geographical location at the crossroads between Europe, Asia and Africa offers strategic advantages for companies operating in international markets. The island serves as a gateway to these regions and offers entrepreneurs access to a broad market. Cyprus is also a member of the European Union, which facilitates trade with other EU countries.
The Cypriot government actively supports the development of start-ups and innovative companies through various funding programs and initiatives. These include tax incentives, financing options and support for research and development. These measures aim to create a favorable environment for innovation and entrepreneurship.
Setting up a company in Cyprus is relatively simple and straightforward. The country has taken measures to reduce bureaucratic hurdles and speed up the company registration process. This makes it easier for entrepreneurs to start their business activities quickly.
In addition to the economic advantages, Cyprus also offers a high quality of life. The island is known for its beautiful beaches, pleasant climate and rich culture. This not only makes Cyprus a great place to live, but can also help to attract and retain a highly skilled workforce.
Cyprus has a well-trained and multilingual workforce. The high education rate and the availability of skilled workers in various sectors make it easier for companies to find qualified employees.
As an EU member state, Cyprus offers legal security and access to the benefits of the single market. Companies benefit from the free movement of goods, services and capital as well as from harmonized legislation within the EU.
In summary, Cyprus offers a combination of economic, strategic and quality of life advantages that make it an attractive location for entrepreneurs and the self-employed. The low taxes, the strategic location, the promotion of innovation and the high quality of life are just some of the reasons why more and more business people are choosing to emigrate to Cyprus.
Work environment and culture
The working culture in Cyprus places great value on personal relationships and hospitality. The typical working week is 38 hours and employees are entitled to 20 to 24 days’ annual leave. Salaries are generally aligned with the cost of living, and from January 2024 there will be a minimum wage of 1,000 euros per month.
Taxes
Cyprus offers attractive tax rates for residents. There is no income tax for income below EUR 19,500, and progressive tax rates apply above that. The social security contribution is borne by employees and employers and amounts to 8.3% each.
For more information on living and working in Cyprus, visit the official website of the Federal Foreign Office and Living and Working in Cyprus for detailed insights.
Residence and registration procedure
Upon arrival in Cyprus, one of the first things you need to do is register with the local Residents’ Registration Office. EU citizens who wish to stay in Cyprus for longer than three months must apply for a registration certificate. This certificate confirms your residence status and is a simple process that is carried out at the local immigration office.
Entry and customs
As an EU citizen, you enjoy freedom of movement within the member states, which means that you do not require a visa to enter Cyprus. However, when importing removal goods and personal effects to Cyprus, you should familiarize yourself with the Cypriot customs regulations to ensure that you have all the necessary documents ready and know which items can be imported duty-free and which items may be subject to tax.
Work and employment
Job opportunities in Cyprus vary greatly depending on the sector and qualifications. It is advisable to find out about the labor market situation before emigrating and, if necessary, to make contacts or register with the Cypriot employment agency. Recognition of German educational qualifications is possible in many areas, but it is important to clarify this in advance.
Taxes
Cyprus offers attractive tax rates and has a double taxation agreement with Germany to prevent you from being taxed in both countries on the same income. Inform yourself thoroughly about your tax obligations both in Germany and in Cyprus to avoid any surprises.
Social affairs and health
The Cypriot healthcare system offers both public and private healthcare services. As an EU citizen working in Cyprus and paying social security contributions, you are entitled to state healthcare benefits. However, it is also advisable to find out about additional private health insurance options to ensure comprehensive cover.
Education and training
For families with children, there are various educational opportunities in Cyprus, including public and private schools, as well as international schools that offer classes in different languages. Universities in Cyprus offer a wide range of degree programs that are attractive to international students.
Living
The real estate market in Cyprus offers a variety of housing options, from urban apartments to rural houses. It is important to be aware of local laws and regulations regarding the purchase or rental of real estate.
Vehicle maintenance
If you are planning to bring your vehicle to Cyprus, you need to familiarize yourself with the rules for importing vehicles and the driver’s license requirements. Cyprus has specific requirements for the registration and licensing of imported vehicles.
Frequently asked questions (FAQ)
Can I work in Cyprus as a German? Yes, as an EU citizen you have the right to work in Cyprus. However, it is important to find out about the labor market situation and possible recognition of qualifications in advance.
Do I have to pay taxes in Cyprus if I emigrate there? Yes, if you are resident in Cyprus and earn income, you are liable to pay tax. Find out about Cypriot tax laws and the double taxation agreement between Germany and Cyprus.
How can I rent or buy an apartment or a house in Cyprus? There are numerous real estate agencies and online platforms that can help you find an apartment to rent or a house to buy in Cyprus. It is advisable to find out about the legal requirements before making a purchase.
Is the healthcare system in Cyprus accessible for expats? Yes, the Cypriot healthcare system is accessible to all residents who pay social security contributions. There are both state and private health services.
In summary, Cyprus, with its warm Mediterranean climate, rich cultural history and diverse work and living opportunities, is an extremely attractive destination for emigrants from Germany and all over Europe. The island not only offers a high quality of life and a comparatively low cost of living, but also numerous opportunities for entrepreneurs, the self-employed and skilled workers in various sectors. With its strategic location, low corporate taxes and a supportive environment for innovation and start-ups, Cyprus has established itself as a dynamic and prosperous location that offers economic and personal development opportunities.
In addition, the Cypriot healthcare system, combined with an excellent educational infrastructure, enables a carefree lifestyle for families and single people alike. The friendly and welcoming community, where personal relationships and hospitality are emphasized, makes settling in and integrating into Cypriot society an enriching experience.
Those who emigrate to Cyprus will not only find a new home, but also a wealth of opportunities to enjoy life to the full – whether it’s exploring the breathtaking landscapes and beaches, taking part in the lively cultural life or simply enjoying the relaxed Mediterranean lifestyle. Cyprus is therefore not just an option for those looking for a change, but a real opportunity to start a new chapter in one of the most beautiful and liveable places in the world
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