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Life in Cyprus - Incentives for Investing and Living Cyprus

Contributed by Oxford Tax Solutions
March 30, 2017

Cyprus grants you a relaxing, safe and friendly environment to enjoy life’s comforts to the fullest. Cyprus is a small-sized island meaning that everything is close by while at the same time the island boasts with life, cultural and natural attractions waiting to be discovered and explored. The island’s amazing coastline attracts tourists from all over the world while its snowy mountains are ideal for skiing during the winter months.

Cyprus offers a world of choices. During the long summer season, most enjoy lazing on the fine beaches, swimming in crystalline waters and trying thrilling water sports. Others explore unspoilt nature trails and ancient landmarks. The island is also reputed for its lively and vibrant nightlife boasting with traditional taverns, international restaurants, stylish bars, clubs and cafes as well as five star hotels. Cyprus provides quality lifestyle.


Blessed with all-year-round sunshine, the climate guarantees the ideal weather conditions for any occasion.


The education system in Cyprus is excellent. Both primary and secondary public and private schools are reputed for their high levels. Universities and colleges in Cyprus are reputed and internationally recognised making them the ideal choice for those looking to continue their studies abroad like in the UK or the USA.


Cyprus provides excellent healthcare services. Besides being state-of-the-art, the public healthcare system is one of the least expensive across Europe. Likewise, the private healthcare system in Cyprus is reputed for providing excellent services. The average cost per visit at private clinics and hospitals amounts to €40.


Cyprus is definitely one of the safest countries to reside in holding one of the lowest crime rates in Europe.

Cost of Living

Cyprus is one of the few countries that individuals enjoy a high level of standard of living with a low cost of living. The island is definitely a destination where its residents can enjoy life to the fullest at a low cost of living.

Strategic Location

The island is located on the crossroads of three continents, making it an ideal destination for business as well as pleasure. Cyprus is reputed as being a business hub since it is located in the centre of busy air and shipping routes. This fact has considerably contributed in the growth of the island’s international business and services fields.

Easy Access

Travelling to and from Cyprus is incredibly quick and easy since more than 30 direct scheduled and charter flights run daily. Connecting flights are also accessible across the EU and the Middle East to and from both of the island’s international airports located in Larnaca and Paphos.


Locals are known for their friendly nature and warm hospitality making it easy for everyone to feel home and make friends.


Even though Greek is the official native language spoken in Cyprus, English and Russian is also widely spoken. Bilingual and even trilingual menus, announcements and signs are the norm. 


Cypriote cuisine is delicious and preferred by many foreigners. The island boasts with local taverns serving meat and fish meze. Cyprus also overflows with restaurants serving international cuisines. 


Cyprus has always been famed for its vibrant nightlife. The island is home to trendy bars and clubs that meet everyone’s tastes. Matching the liveliness of famed Mediterranean resorts, live music scenes, DJs, lounge and piano bars as well as upbeat bars and cafes dot the island making it easy to enjoy a fun night out.


The island is surrounded by sun-kissed shores and crystalline blue waters making it an ideal destination for beach lovers. Cyprus is home to more than 50 Blue Flag awarded beaches that are enjoyed from April till October every year.


Cyprus is a paradise for nature lovers as it is home to stunning and rare flora and fauna. The island is also home to rare species such as the Mouflon and Caretta-Caretta turtles. There are also plenty of nature trails that can be explored.


Cyprus is the ideal destination to enjoy fun-packed activities available for all ages as well as interests including hiking, climbing, cycling, horse riding, water sports, golf and many more!


The island’s rich cultural heritage and history is showcased across the island. The island boasts with ancient landmarks as well as museums exhibiting unique treasures. Cyprus is also reputed for its art scene as well as performing arts, concerts, festivals and theatre scene that are held all-year-round.


Boasting with more than eleven thousand years of cultural and history, Cyprus’ cultural has been influenced by both the East and West parts of the world. Known as one of the most ancient civilisations, Cyprus is home to hundreds of ancient monuments, archaeological sites and treasures. The majority of ancient sites are included in UNESCO’s World Heritage List and still play an important role in the island’s contemporary life.


The island’s robust and stable economy relies significantly on the services sector. Cyprus has succeeded in maintaining its economic and financial stability despite the world recession and current economic crisis.


Cyprus holds one of the lowest corporate tax rates across Europe. Additionally, the island’s double taxation agreement network is extensive, amounting to more than 45 countries.

EU Membership

Cyprus marked a turning point when it became a member of the EU in 2004. Important improvements and reforms were introduced due to complying with the EU regulations and legislations.

Freehold property 

All property can be owned and passed on to descendents without being subjected to inheritance tax. Individuals control their properties from the moment they sign the Contract of Sales which is then submitted to the Land Registry.


The prices of property in Cyprus are relatively low in comparison to most destinations. This enables individuals to invest in a holiday or retirement home or generally just purchase properties as an investment.  

Communications & Transport Infrastructure

Cyprus is home to two modern international airports, top-notch road network as well as modern marinas and ports.


Tags: Cyprus | services | tax | business | Europe | individuals | legislation | tax rates | inheritance tax | investment | Russia | environment | interest | regulation | cultural heritage | public health | private healthcare | education | Communications | Education | Healthcare



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