Cyprus is a beautiful island located in the eastern Mediterranean Sea. It is a popular tourist destination known for its stunning beaches, friendly people, and Mediterranean climate.
There are many reasons why people choose Cyprus as their new residency, the most common reason the low taxation system of the country , others to enjoy the Mediterranean lifestyle that the island offers, while others simply want to be closer to family and friends who have already made the move.
WHY CYPRUS IS ATTRACTING DIGITAL NOMADS FROM ALL AROUND THE WORLD
Let’s look at some of the key benefits digital nomads are taking advantage of when moving to Cyprus.
Tax benefits
One of the key attractions of Cyprus is the low taxation regime. Cyprus has 0% tax on dividends, 0 % tax on rentals income from abroad, and 0% inheritance tax.
Cypriot residents are only taxed on their income that is derived from sources within Cyprus. This means that if you receive rental income from abroad or dividends from foreign investments, you will not be liable for any tax in Cyprus.
In addition, there are a number of double taxation agreements in place, which mean that income from abroad is not taxed twice.
Also, there is no inheritance tax in Cyprus. This is significant for those who wish to pass on their wealth to future generations. Your heirs will not have to pay any tax on the inheritance they receive from you.
An Attractive Lifestyle
Cyprus is a beautiful island with a Mediterranean climate, stunning beaches, and friendly locals. It’s no wonder that so many people are drawn to the island each year.
There’s no doubt that Cyprus is an attractive place to live. If you’re looking for a place to enjoy the Mediterranean lifestyle, then Cyprus is a perfect choice.
A Safe And Stable Country
Cyprus is the 5th safest country in the world compared to countries with under 5m population, with one of the lowest lowest crime rates in Europe.
What’s more, Cyprus is a full member of the European Union and the Eurozone. This means that it is subject to strict financial regulations, making it a safe place to invest your money.
Access To High Education Through British Schools With Base In Cyprus
The high-quality education system in Cyprus is another key attraction for many families. There are many British schools on the island which offer an international curriculum. This means that your children can get a world-class education without leaving Cyprus.
The Bottom Line
Cyprus offers many benefits to digital nomads many of which choose to move to cyprus save by receiving on dividends and purchase a home from their savings.
What’s more, you’ll be able to take advantage of the island’s low cost of living compare to other EU countries and enjoy its Mediterranean lifestyle. If you’re looking for a place to call home, then Cyprus is an excellent choice.
If you’re interested in making a move to Cyprus and considering purchasing a new home, we can help. We are a leading bespoke property developer in Cyprus, with a wide range of luxury properties available for purchase in some of the island’s most sought-after locations.
We can guide you through the process and help you find the perfect property in Cyprus to suit your needs and budget. Contact us today to learn more about our services and how we can help you obtain your new homes.
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