Cyprus is one of the most popular countries in the world to move to among British retirees because of a combination of inimitably attractive factors ranging from its tax friendly treatment of pensioners to its fantastic climate. In this article we’re going to be looking at the reasons why Cyprus is such an exceptionally good location for retirees seeking a safe and appealing nation in which to put their feet up, relax and enjoy their hard-earned retirement.
The article is entitled everything you need to know about retiring to Cyprus so it does touch on realistic subjects such as the type of accommodation you can expect for your budget, how to handle a climate that is largely perfect but occasionally harsh in terms of heat in August or cold in January, how to stay healthy, how to deal with moving to a brand new country and how to settle down to retirement in a foreign land.
The climate in Cyprus does not actually consist of 365 days of sunshine a year and despite media campaigns to the contrary, Cyprus is not really a country for all seasons!
In terms of what to realistically expect from the climate it is this…January and February in Cyprus are very wet months. It can rain hard for a number of days in a row, destructive storms can reap havoc with young gardens and occasionally take tiles off the roof and during these months you will need some form of heating over and above dual heat/cool central heating units – your builder may not advise you of this fact but other expat retirees who are honest will!
From March to May the weather is lovely, you have the occasional rainy day or overcast and windy couple of days but the temperature warms up, it can be quite hot in the daytime with nighttimes sometimes requiring heating as far as the beginning of April. July to September is a very, very hot period indeed in Cyprus!
During these summer months it is advisable to stay in the shade during the day, don’t be out and about and engaged in strenuous activity between 11am and 3pm and to make the most of the balmy evenings by wining and dining with friends al fresco of an evening. During these months you’ll realize why many Cypriots take a siesta in the afternoons because it is too hot to do much else – besides, it means you can stay up much later in the evening and enjoy entertaining friends, going out and the great lifestyle that Cyprus offers during the summertime.
From the end of September right through to December its possible to enjoy really decent weather – again it can rain occasionally and the odd winter storm will come and blow the garden about, but on the whole it’s pleasant and the worst months by far are January and February!
If you’re retiring to Cyprus you will need air conditioning or at the very least powerful fans for three months of the year and you will need central or spot heating for about three months of the year as well.
Pensioners who move to Cyprus from countries with which Cyprus has a double taxation agreement (this includes most nations in the world including the UK, USA and Canada for example) and who have a regular pension income over and above CYP 2,000 at the time of writing, no longer have to pay tax on that income in their previous country and only pay 5% income tax on their pension income in Cyprus. Financially speaking therefore, this is a great reason for retiring to Cyprus!
In terms of housing – Cyprus has an active housing market with many developers producing property specifically for the overseas buyer and foreign retiree market in communities built for people from similar backgrounds and of a like demographic makeup. You can choose from villas on a largely British housing estate for example, village property in the mountains, a city house, an apartment overlooking the sea, a home in the suburbs or on a golf course or a self-build, architecturally designed property on your own land! I.e., the choice is huge.
Property in Cyprus is expensive however because the demand for villas and apartments in the sun is just so intense. If you move away from the main tourism and employment hotspots such as in Paphos or the centre of Nicosia for example you can find more affordable alternatives.
Additionally, it’s possible to take out a mortgage to buy in Cyprus depending on your age and financial circumstances – alternatively you can sell your current principal residence and buy property in Cyprus with the proceeds or maybe buy off plan prior to retirement and stagger your repayments in line with your affordability.
Cyprus has very sophisticated banking and legal systems, it has superior health care facilities - although it is wise to take out private health insurance – and it is also a safe country in which to live with low instances of crime against the person or property. Petty theft is a concern in some of the more built up areas, but if you take basic precautions such as locking doors and windows when you go out and not leaving lots of valuable items lying about the garden in full view you should be perfectly protected.
In terms of the cost of living in Cyprus – this will depend on how you live your life! If you shop in the local supermarkets instead of from individual vendors or weekly markets you’ll pay far more for your food, if you eat out in the main tourism restaurants as opposed to in Cypriot restaurants off the beaten track you’ll pay more and if you drive a gas guzzler your fuel, insurance and tax bills will be high.
If on the other hand you shop at the market, eat where Cypriots do, drink local alcohol rather than imported spirits, drive a modest car and keep your home energy consumption realistic, you’ll find your pension income goes a lot further than it might in the UK for example.
If you’re a resident of the EU you can retire to Cyprus unrestricted but you will need a TRE permit which you should apply for as soon after you arrive as possible. This will give you official permission to live in Cyprus but it does mean you cannot take paid employment and you have to be able to financially support yourself for the entire duration of your stay in the nation. Residency restrictions and rules are subject to change often – and therefore if you have your heart set on retiring to Cyprus, do yourself a big favour and contact your nearest embassy of Cyprus for up to date rules pertinent to your personal circumstances.
(The Embassy of the Republic of Cyprus in the United States of America - 2211 R. Street., North West, Washington D.C. 20008 or email .(JavaScript must be enabled to view this email address)
The Embassy of the Republic of Cyprus in the United Kingdom - 93 Park Street
London W1K 7ET)
If English is your first language or you’re pretty fluent in English you’ll find adapting to life in Cyprus easy as everyone has English language skills and on the whole the Cypriot people are welcoming or at least accepting of foreign retirees.
In areas of the nation where there is a high concentration of foreign residents such as in and around Paphos for example, there are some individuals from a variety of backgrounds and nationalities who market their services specifically at the retiree/foreign/newly arrived market and some of these people do not give best advice or service – it’s the same in any nation in the world from Spain to Belize for example where there is a large influx of sometimes a little naïve retirees and expats! So don’t take offence, just be astute and use your common sense when getting tradespersons or salespersons involved in your life no matter where in the world you move to!
Your best bet as a newly arrived retiree in Cyprus is to start networking as soon as possible – so get down to the local bar or restaurant, get out and about and meet other retirees or foreign residents in your community and start a dialogue, ask about others’ experiences and recommendations and above all else don’t be shy in coming forward! You’re new and on your own in a foreign country so you’d better start making friends to share and enjoy life with quickly!
One final piece of advice from a season expat is this – even though you’ll be keen to make best friends, don’t always assume that the very first people you meet will be 100% perfect to fit this bill. Keep an open mind and use the excuse of having to meet lots of new people to get out and about for meals, games of golf, nights in the pub and so on and so forth – after all, you only retire once!!!!
