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Cyprus Handicraft

Cyprus Handicraft

Steeped in history, Cypriot handicraft is preserved to this day in government sponsored foundations which are committed to keeping this art form alive. Cyprus Handicraft Centers are open in all towns and most villages proud of their heritage, will have a small museum showing their amazing work with anything from basket weaving, to lace making, tapestries, weaving, pottery, leather-work and copper and silverware

Healthcare in Cyprus

Healthcare in Cyprus

 Who is entitled to free or subsidized medical care? Cypriot and EU citizens who are permanent residents in Cyprus are entitled to get a hospital card, whether it is completely free will depend on age, employment and income group. For pensioners and people who work and reside in Cyprus with a low income, medical care is free. Depending on how much you earn you will be able to get a hospital card with reduced charges. For those working in Cyprus, Social Insurance contributions are compulsory and how much is paid will depend on salaries earned. People who contribute social security payments are entitled to free or reduced medical care. The Ministry of Health categorizes patients into those who receive treatment free of charge, those who are entitled to reduced fees and those who have to pay the full amount. This is based on income, number of children, pensioners and chronic illnesses.

Cypriot Wineries

Cypriot Wineries

There is evidence that Cyprus has been producing wine for over 6000 years. The oldest wine, which was proclaimed by Richard the Lionheart, as the wine of kings, is a sweet fortified wine called Commandaria. This wine which is considered to be the oldest named wine worldwide, won the ‘Battle of the Wines’, which is the first recorded wine tasting competition which took place in 1878. Commandaria is still produced to this day, using the same ancient grape varieties.

Finance for Property in Cyprus

Finance for Property in Cyprus

To be entitled to finance your property with the regular loan packages that are offered by the banks, you would have to be a permanent resident in Cyprus for at least 5 years. If you fall within this criteria, you would be allowed to approach any bank in Cyprus and provided you put your property as collateral and can prove you can cover the installments you shouldn’t have a problem being granted a loan. There are packages for first home buyers, holiday homes, for building the house of your dreams and for resale purchases of houses or apartments. You can even apply for a loan to renovate your existing home.  

Golf in Cyprus

Golf in Cyprus

Cyprus now offers award winning golf courses in the most amazing settings overlooking the Mediterranean Sea, most of which are located in the Paphos area. There are currently 4 main golf courses in leisure developments, which include luxury villas and hotels. Due to the great weather in Cyprus, the golf courses are open all the year around.

Buying Property through a Company in Cyprus

Buying Property through a Company in Cyprus

Buying property through a company in comparison to buying as an individual, has many advantages especially with taxes. If you have a limited liability company, you are entitled to buy as much property as you want, without any restrictions. With a company you can purchase any type of property including land without requiring any permission from the Council of Ministers which is the case with non EU citizens buying privately.

How to go about setting up a business in Cyprus

How to go about setting up a business in Cyprus

Cyprus has come a long way in its objective to attract foreign investments. Procedures needed to start a business and register a company have been simplified and in most cases foreign participation can be up to 100%. Now that Cyprus has joined the European Union, EU citizens can open their own business without any restrictions apart from categories in financial services, which are still subject to strict regulations

What you need to know when buying Property in Cyprus

What you need to know when buying Property in Cyprus

Location, location, location. Decide what it is you want, are you interested in purchasing a property as an investment? Are you looking for peace and tranquility with a house near the seafront? Do you have a young family and need to be near the best schools?  Whatever your needs are, with all the properties available, you will surely find something within the criteria you want. Once you have considered all your requirements, then it is time for research. There are thousands of properties for sale, finding the right one for you will take a bit of time and the right approach. Start with the online property sites, Property Cyprus.com is one of the best sites available, be prepared to go and see what’s available, and when you find your dream home, negotiate the best price. When buying property in Cyprus you should adhere to the following steps.

Should I use an Attorney when buying property in Cyprus?

Should I use an Attorney when buying property in Cyprus?

It is a known fact that if you are contemplating spending your hard earned cash on buying property in Cyprus, you should do so through a reputable attorney. There are a lot of unscrupulous people in the property industry who are looking for the opportunity to separate you from your money! You could end up paying a lot more for your property in the long run by being scammed, rather pay the extra funds to a recommended property Lawyer, so that you have peace of mind and also to expedite the whole process. Having someone experienced to act on your behalf will ensure that all the proper documentation is filled with the correct government offices and that the whole transaction is above board. A good lawyer will offer you advice and guide you through the whole process.

Taxes and Cyprus Real Estate

Taxes and Cyprus Real Estate

Like anywhere else in the world, taxes and fees are added onto the costs of property purchases in Cyprus. When you take into consideration the new laws and the fees that you, as a buyer, are liable for, the cost is moderate in comparison to other countries. When purchasing property in the Republic of Cyprus, you should be aware of what these extra charges will be. The costs start the minute you accept an offer, as you will be required to put down a small deposit which is not refundable. After the contract is signed it is expected, in most cases, that 20% - 30% of the purchase price is paid as a deposit. The remainder will be paid according to your agreement with the seller, which will be clearly stated in the contract. 

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