The Republic of Cyprus
Visitors travelling through the many checkpoints of the Northern Cyprus border will cross into the country known among its populace as the Republic of Cyprus. A member of the EU, tourists will find that the climate here is the same as in the North. One of the major differences between the two is the spoken language. While Turkish is the mother tongue of North Cyprus, the general population of Cyprus speaks Greek. Both nations speak English as well. While North Cyprus is home to Ercan Airport, Cyprus has two international airports, one in Larnaca and one in Paphos. There is also access to the country via to ports of call. Vehicles are driven on the left hand side of the road as in the United Kingdom.
As with North Cyprus, Cyprus has seen a surge in real estate sales. The low cost of living and high quality of lifestyle that a property owner here enjoys is something many can not afford elsewhere. The property prices in Cyprus is considerably lower than most other European countries, make it prime real estate. Property appreciation in Cyprus is somewhere around ten to fifteen percent a year. Unlike the north, Cyprus does charge a stamp duty on their property which is payable to the tax authorities.
Property owners in Cyprus will pay a communal expense if their investment is located in one of theses areas, such as a bungalow or condo. This fee covers the upkeep of gardens, swimming pools, and other community shared services. Retirees will find this to be a great benefit as they will not have to worry about maintenance on their homes. Also, if they become resident of Cyprus, they are protected by a double taxation treaty so that they do not have to pay on their pensions in two different countries.
Another difference visitors to the island will discover is that a residential or working permit is no longer required for United Kingdom citizens who have homes or businesses in Cyprus. This is due to the countries membership in the EU. The government is in the process of removing additional legal constraints to make the movement between two homes easier for these citizens.