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Retirement Protaras Cyprus

Protaras is a popular holiday destination located on the south eastern coast of Cyprus. The island attracts 2.4 million visitors per year and is one of the most popular tourist destinations in the Mediterranean. However, it is not just good for tourism, but is a frequent place of retirement due to its economical and supportive environment.

More specifically, with two international airports it is a very accessible island with numerous cheap chartered and scheduled flights all year round meaning that relatives and friends can visit with ease and so you will not feel alone. It is easy to settle into the lifestyle as, although the official language is Greek, over 90% of the locals speak English. Known as `The Birthplace of Aphrodite` it not only offers stunning beaches but it also has an average of 340 days on sunshine a  year as well as a low crime rate and clean nvironment. To make your move easier your belongings can be imported duty free and it is even easy to bring pets into the country as long as they have had the appropriate vaccinations.

Cyprus became an EU member in 2004 therefore, if you are an EU citizen, you do not need a visa prior to moving although you will need a Temporary Residence Employment Permit Category F which you can apply for on arrival. Furthermore, it is easy to feel at home in Cyprus as they drive on the left hand side of the road, as in England and they have a similar banking system. In general, Cypriots are proud of their Anglo-Cypriot relations and so create a welcoming and friendly environment for those retiring to the island, which adds to a culturally relaxed way of life and an extensive support and social network for ex patriots.

The cost of buying property in Cyprus is relatively low, with cheap legal fees and A Land Registry System which is not only similar to the British in a model but is thought to be one of the most advanced systems in the world. Added to this non Cypriot residents can buy as many properties as they want to in a system that is financially favourable. More specifically, there is 0% on investment income brought into the island and there is a Double Taxation Treaty between the UK, Canada, Cyprus and the USA which allows retirees to receive investment income and public and private pensions without paying withholding tax. Additionally, UK and other foreign residents, are only taxed on a flat basis of 5% per year on pension income over 2000 pounds. Added to this, Cyprus is seen as one of the Mediterranean`s healthiest countries with a priority towards preventative medicine and a wide range of public and private health care facilities.

Before you move to the island, it would be wise to visit for a holiday with Protaras hotels providing excellent options for accommodation for your trip. Overall, with a sunny climate and a range of attractive beaches to choose from Cyprus is amongst the top of retirement places for UK residents, with a favourable income tax rate on pensions, low cost property and lack of inheritance tax adding to the islands strong appeal.

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