Standard and cost of Living
Cyprus provides a fairly high, European level standard of living. The overall cost of living averages about 1/3 to 2/3 of most parts of Europe, Japan or the USA. The relatively low cost of living in Cyprus has an added appeal for the potential buyer, offering a full, but comparatively inexpensive lifestyle. Resent statistics pointed to Cyprus as one of the most inexpensive countries in Europe.
The local markets provide a wide selection of fresh fruit and vegetables, meat and fish of incredible prices and Cyprus’ modern hypermarkets and groceries are fully stocked with a very large variety of both local and imported goods. Therefore people living in Cyprus can live relatively comfortable with a much less monthly income, compared with living in other European Countries.
EUROPEON UNION
Cyprus has join the E.U. 1st may 2004. The benefits of this are considerable. Cyprus already exports 50% of its products to the E.U. and as of May next year the increase of these exports and the income from them will be substantial. Cyprus can expect to be transformed into a regional business center as it has a Democratic system of governance, a free market, excellent telecommunications with direct dialing to over 200 countries, a favorable tax regime, bilateral investment agreements, double tax treaties and a strategic location at the crossroads of three continents.
The E.U recognizes that Cyprus has a good stable functioning market economy and will be a competitive force within the union. Whilst adoption of the Euro and participation in the Economic and Monetary Union (EMU) is expected to lower inflation and interest rates, resulting in increased investment and a higher growth rate.
Investment in property has already risen over the last few months and is expected to increase further as we approach 2004 and beyond. As of next May, with Cyprus’ full membership, the property investment market is expected to increase considerably.
With a booming tourism industry and a strong stable economy Cyprus is looking on the bright side as always, which can only lead to an increase in the economy throughout all sectors
Cypriot People & Official Languages
Cypriots are a mixture of many trading nations on the Mediterranean. The people
are open, frank and friendly to foreigners while being astute businessmen. You will certainly be impressed by the traditional warmth and genuine hospitality of the Cypriots being among the most hospitable people on earth, always making you feel at home on the island.
The local population is Greek speaking.
English is widely spoken since Cyprus was once a British Colony. All street signs, direction signs, shop signs etc. are written in English.
