With alluring beaches and mountain peaks, vineyards studded with olive trees and citrus groves, the Republic of Cyprus is not only a popular destination for holiday makers but has a long history of expatriates settling and making a good life on the Mediterranean island. With offshore companies establishing on the island it also makes for an exciting destination to pursue a career.
The island is situated in the Eastern Mediterranean Sea, just south of Turkey. Cyprus’ pristine beaches and popular holiday resorts are balanced with rugged mountains, traditional villages and medieval castles to give a truly East meets West appeal. The capital of Cyprus is Nicosia and there are direct flights from the UK that take approximately 4 hours.
Cyprus is the hottest, driest island in the Mediterranean. It enjoys more sunshine than any other Mediterranean resort - typically 340 days of sunshine a year. The rainy season is from November to March, with most of the rain falling between December and February. Average summer temperatures are 86°F/ 30°C and in winter, they rarely fall below 61°F/ 16°C.
Cyprus gained independence from the UK in 1960 and became a member of the EU in 2004. It has a population of approximately 855,000. Due to its highly developed infrastructure, Cyprus has been sought as a basis of several offshore businesses.
Living and working in Cyprus
Life in Cyprus can be both rustic and cosmopolitan. The Mediterranean charms of village life and coffee shops in piazzas are very much still adhered to. New residents of Cyprus will only have 20% income tax within their first three years. Corporation tax is the lowest in the EU at 10%. At work, professionals will work closely with their clients in an environment where they will be treated as a valued member of the team. Due to the size of the island, commuting distances are negligible which mean there is more time to enjoy outside work pursuits.
As a member of the EU, relocation to Cyprus happens often. Professionals can expect to be better off considerably in real terms due to the levels of income tax and cost of living. Relocation expenses and temporary accommodation and transport are also included as standard in most packages.