Cyprus Property for Sale by Cerise Consulting

Patricia Marks

CRP-497 JUST REDUCED FOR A QUICK SALE Apartment in Chlorakas with 2 bedrooms A two bedroom apartment in the Melanos area of Chlorakas, in a road that leads straight down to the main coast road, just a 3 minute drive to the beach. The property is on the first floor and has an open plan living area with patio doors from the lounge leading onto a veranda with good sea views. The kitchen it fully equipped with oven, hob, fridge, washing machine, microwave oven etc. A door from the living area leads to a small hallway to the large shower-room and two bedrooms, the master bedroom having a further veranda with sea views. All the rooms have fly screens and large ceiling fans to keep you cool. The covered parking space leads to the stairs for easy access to the apartment. This apartment is offered with all furnishings at no extra charge. Delivery: Ready Price:  104,000 € / 60,868 CY £ more info

MORE FRONT LINE COASTAL LAND IN CYPRUS WANTED FOR INVESTORS - PLEASE EMAIL info@ceriseconsulting.com

CRL: 102
	Land in Chlorakas, Pafos, Cyprus with Town Planning for a Hotel. Plot: 66 donums (45,430m2 Tourist Zone T2b and 43,280m2 is Agricultural) Price: Euros 40,000,000 / CY£23,410,960

CRL: 113
	Land in Latsi, Polis, Cyprus with beach frontage close to Latsi Marina with water, electricity and access road, suitable for a hotel, tourist village or individual villas. Plot:  62,800m2 (47 donums) Build:  35% for Hotel (22,000m2) or 20% for dwellings (12,560m2) Price:  €44,000,000  /  CY£23,996,234

An article written by Jessica Brown taken from ‘The Sunday Times’ Newspaper dated January 20, 2008

Revealed: the best places in the world for retirement

Cyprus tops the list of destinations because it has an income-tax rate of just 5% on pensions for retired residents, as well as low property prices and no inheritance tax. It also scores highly on related issues such as ease of gaining residency, low property buying and selling costs and benefits for pensioners.

Do you feel you’ve had enough of the rat race and want to jet off to a life in the sun? Here are your options

RECORD numbers of Britons are fleeing the country for more appealing climates, lower taxes, more affordable property and fewer traffic jams.

Latest figures from the Office for National Statistics show that 200,000 people left Britain for good last year, and the majority of them were retirees.

However, many of those who live the dream underestimate the financial implications. Many couples retiring to Spain, for example, think they will pay lower tax, only to be hit by a wealth tax of 0.2% to 0.5% of their worldwide assets.

And many couples fail to realise that in Spain and France, unlike in Britain, inheritance tax can be levied on assets passed between a husband and wife – and the rate is 30% on average.

Today, we reveal the best places in the world to retire, based on eight key financial categories – income tax, inheritance tax, property tax, property costs, ease of gaining residency, healthcare, climate and culture.

The comprehensive research, conducted by the Homebuyer and Property Investor Show, gave the 10 most popular retirement countries a mark out of 10 in each category, to come up with an overall score out of 80.

Nick Clark, managing director of Homebuyer Events, said: “Not only does Cyprus offer a warm, sunny climate, it also benefits from favourable taxation and healthcare policies.”

Panama, now infamously the chosen destination of “back from the dead” canoeist John Darwin and his wife Anne, comes a close second. This is largely thanks to its pensionado scheme, which offers attractive discounts for pensioners.

CYPRUS

Southern Cyprus is a four-and-a-half hour flight from Britain. It is favoured by retirees because of its hot, dry summers and mild winters – not to mention its preferential 5% tax rate on pensions.

English is widely spoken and they even drive on the same side of the road as in the UK.

Tax

Retired residents from overseas are taxed on their pensions at the rate of 5% above about €3,417 (£2,554) a year, whether it is a state, company or personal pension. To qualify for the low rate, you must have lived in the country for at least 183 days.

Alternatively, you can pay the normal rates, in which case the first €19,500 is tax free, rising to 30% on €36,301. So the smaller your income, the better off you are under the normal system.

Remember that if you continue to have assets in Britain, such as bank accounts or an investment portfolio, you will still be liable for UK tax on any income, even if you are resident in Cyprus. Many retirees therefore move their assets offshore, and then bring the income into Cyprus, in which case there would be no tax to pay, according to Jonathan Spring-Rice of adviser Towry Law.

British retirees will also be attracted by the fact that Cyprus abolished inheritance tax in 2000. However, to benefit from this, expatriates will have to prove they have severed all links with Britain – and this may not be as easy as you think.

It can take more than five years and involves closing down all accounts and selling all UK property, and cancelling your registration with your doctor and dentist, among other things.

Property costs

Property prices in Cyprus start from about £77,000 – although the island is rapidly catching up with prices in more established retirement hotspots such as France and Spain.

Stamp duty is 0.15% for properties worth up to about £130,000 and 0.2% on more expensive homes, compared with 1% to 4% in Britain.

However, there may be property transfer fees of 3% of the first £65,000 or so, 5% on homes worth between £65,000 and £130,000 and 8% on those valued at more than £130,000.

Ease of gaining residency

Retired EU nationals do not require a visa to move to southern Cyprus, but they do need a temporary residence employment permit that should be applied for on arrival.

Those wanting to buy property must also prove they have adequate income or financial resources to live without working. The minimum requirement is about £8,000 a year.

Healthcare

Now that southern Cyprus has joined the European Union, pensioners from other EU countries are entitled to use the public health system.

However, there are few state residential nursing homes or hospices for the terminally ill on the island, so many people needing long-term care simply return home to Britain

You can view the full article from this link: http://business.timesonline.co.uk/tol/business/money/consumer_affairs/article3215247.ece

All prices are in Cyprus £'s and Euros; a currency calculator can be found at the bottom of this page for conversion to GB£ sterling and US$, with a link to our preferred currency broker, Sterling Exchange, where currency can be pre-ordered at better rates than the bank with
nil transfer fees.

Cerise Consulting offers prestigeous properties at the award winning
APHRODITE HILLS GOLF RESORT

GUARANTEED RENTAL INCOME on GOLF APARTMENTS at APHRODITE HILLS GOLF RESORT

EXCLUSIVE MORTGAGE SCHEME OFFER for SELECTED APHRODITE HILLS GOLF PROPERTIES - JUST 20% DEPOSIT AND A TWO YEAR PAYMENT HOLIDAY

CLICK ON THE PICTURE TO THE LEFT TO FIND OUT MORE ABOUT APHRODITE HILLS GOLF RESORT

GOLF:  Aphrodite Hills Golf spreads through an undulating course dotted with carob and olive trees.  Designed by Cabell Robinson, the 18 hole championship standard course measures 6,299 metres and plays to a par 71/70.  Experienced golfers will enjoy the challenge of the Mediterranean terrain, while beginners can take advantage of golf professionals at the Academy.

The Pro Shop offers an extensive range of golfing equipment and apparel, while an inviting clubhouse with a bar and restaurant is the ideal place to wind down and reflect on the day’s golf round.

CAR HIRE IN CYPRUS:
Prices for Car Hire are inclusive, there will be no extras to pay.  Some vehicles are shown below as examples but others are available on request.

Make	Model & CC	March to May Euro per day	June to Oct Euro per day	Nov to Feb Euro per day	Notes
Daihatsu	Domino 1.0	26.00	29.00	21.00	Air con.
Toyota	Yaris 1.2	29.00	33.00	24.00	Air con.
Suzuki	Ignis 1.3	29.00	34.00	24.00	Air con.
Honda	Jazz 1.4	33.00	38.00	27.00	Air con.
Honda	Jazz 1.4	36.00	41.00	29.00	Air con. Auto
Nissan	Almera 1.5	34.00	39.00	27.00	Air con.
Daihatsu	Terios 4x4	38.00	43.00	29.00	Air con. Hard Top
Suzuki	Grand Vitara 1.6	38.00	43.00	31.00	Air con. Auto. Hard Top
Suzuki	Vitara 1.6	34.00	41.00	29.00	Soft Top
Peugeot	307sw	50.00	58.00	41.00	Air con. 7 Seats
Opal	Zafira 1.6	50.00	58.00	41.00	Air con. 7 Seats

Please contact us to reserve a car which can either be waiting for you at the airport or delivered to your accommodation address.

Prices are correct at the time of insertion onto this website but cannot be guaranteed as they are constantly changing.  Every effort is made to keep the website updated but please understand if some prices have changed.

This Cyprus website is regularly updated and every effort is made to ensure that all information regarding properties for sale in Cyprus, holiday rental villas in Cyprus, Commercial Properties in Cyprus and land for sale in Cyprus is as accurate as possible. 

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