All that should be known about Cyprus

Cyprus is independent sovereign republic. On the basis of the contract signed on April, 16th, 2003 in Athens about expansion of EU, Cyprus became the full member of the European Union on May, 1st, 2004. Greek is for inhabitants of island the native language, but the majority of Cypriotes also freely speak in English. Traffic signs and store signboards are written on Greek and English.

Cyprus - the third island on size in Mediterranean sea with soft, typically Mediterranean climate and abundance of a sunlight even during winter time.

Currency of the country - the Cyprian pound consisting of 100 cents. Commercial banks offer a wide set of services and have correspondent attitudes with the banks located in large cities worldwide. The system of commercial banks is based on English model. Having it is insignificant a low crime rate, only 6 % in comparison with the Great Britain, Cyprus gives safety and calmness - key conditions of well-being as which you feel in your new house far from the house.
The health services on Cyprus differs high standards and in comprehensible cost. Except for comprehensive schools there are also private schools for foreign pupils. The international airports of Larnaka and Pathos, and also seaports of Larnaka and Limassol connect Cyprus with all countries of the world.
The telecommunication system of Cyprus takes the third place in the world; radio, TV and satellite channels broadcast in English, and in local boothes the international printed editions are on sale. As well as to the Great Britain, motor transport on Cyprus with the right rudder, and movement is carried out on the left party pass parts.
Popularity of Cyprus as places for a life on pension and purchase of the real estate for rest by foreigners grows. Splash in demand for the real estate from foreigners speaks many factors, including rather low cost of residing and a high standard of living. The local prices for the real estate still below what in other European countries. The prices for the real estate continuously grow in the course of time and its cost constantly increases. As a rule, it is possible to tell, that the income of investments in the real estate makes from 5 % up to 8 % a year in comparison with current cost. Besides annually cost of the real estate increases on 10-15 %. The legal system of Cyprus generally is based on the British analogue, and comprehensively protects the rights of the buyer. At purchase of the real estate on Cyprus the unitary stamp duty is raised. This sum is paid to tax bodies. For the house in cost of 100,000 pounds the stamp duty makes 150 pounds protects the rights of the buyer.

At purchase of the real estate the buyer should pay an admission fee for registration of the transaction in Ground Chamber. Gathering makes 4,000 pounds for 100,000 pounds of cost. The real estate in cost up to 100,000 pounds is not assessed with the tax to real estate. At cost of the real estate above this sum, the rate of the tax makes 0.25 % at cost from 100,000 up to 250,000 pounds, 0.35 % - at cost from 250,000 up to 500,000 pounds, and 0.4 % - at cost more than 500,000 pounds.

The tax to the inheritance has been excellent in January, 2000 and since then is not raised. The profit tax from sale of capital actives makes 20 % from the income received at sale of real estate with identical norms of indexation.

Local taxes are raised by local self-government institutions, and make from 30 up to 100 pounds a year depending on the size of property. Municipal payments cover a share of the owner of the real estate in charges on cleaning territory and the maintenance of platitudes of using, municipal zones, plantings, pools, a payment operating with object and repair. Pensioners, who receive the sanction to constant residing to Cyprus, pay the tax at a rate of 5 % for the sum of the pension received from abroad exceeding 2,000 pounds year. For clearing of payment of taxes in two countries there are contracts about the double taxation. Due to it foreign citizens receive advantages of the low taxation on Cyprus. Membership in EU provides to citizens of other countries-members of the European Union free entrance to the country, and also unlimited opportunities at registration of the enterprises and to hiring of employees.