Cyprus is an island in the Mediterranean Sea, south of Turkey. The climate is temperate mediterranean with hot, dry summers and cool winters. The official languages are Greek and Turkish. Most people speak Greek. Cypriot Greek is slightly different from mainland Greek, but is understood by Greek-speakers. English is widely spoken and understood. French and German are also spoken in tourist centres. Most people speak Turkish in the TRNC, though many understand Greek. The main religions are Christianity and Islam. The economy of Cyprus is dominated by the division of the country into the southern area controlled by the Cyprus Government and the northern Turkish Cypriot-administered area. The Greek Cypriot economy is a prosperous one. Cyprus has an open, free-market, service-based economy with some light manufacturing. The Cypriots are among the most prosperous people in the Mediterranean region. Internationally, Cyprus promotes its geographical location as a "bridge" between West and East, along with its educated English-speaking population, moderate local costs, good airline connections, and telecommunications. Cypriots are traditionally courteous and hospitable. When addressing Cypriots, use their title and surname unless invited to use first names. Formal light-weight business dress is generally required. Banks and many offices tend to open later in the warm summer months (May-October) with a longer break for lunch at that time of year. The security risk for expatriates in Cyprus is low. Risks include petty crime, and on rare occasions, violent crime usually linked with organised crime. Cyprus is divided between into the Republic of Cyprus, which is part of the EU, and the Republic of Northern Cyprus which is not recognised by international law. The currency of Cyprus is the Euro (EUR). Banking is on a par with that of Western Europe and North America. The standard of healthcare in Cyprus is good, however costs of treatment for expatriates from outside the EU can be high. The population of Cyprus is 1.2 Million (2019 est.), while the inflation rate (CPI) is -0.2% for Cyprus as at June 2019. Xpatulator Hypothetical Tax for Cyprus is based on the current personal income tax rates which are progressive up to 35%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Cyprus, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports): Cyprus as at 1 July 2019 is low in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Very Low 2) Clothing: Average 3) Communication: Low 4) Education: Low 5) Furniture & Appliances: Low 6) Groceries: Low 7) Healthcare: Low 8) Household Accommodation: Very Low 9) Miscellaneous: Average 10) Personal Care: Very Low 11) Recreation & Culture: High 12) Restaurants Meals Out and Hotels: High 13) Transport: High Cyprus is for example -16.5% cheaper than USA for groceries, -34.2% cheaper for household costs than UK, and 120.5% more expensive for transport costs than India. The hardship premium for Cyprus for an expat from Australia, is for example 0%, i.e. host location (Cyprus) premium of 10% minus home (Australia) location premium of 10%. Cyprus is ranked as a minimal hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Cyprus? Register subscribe to your home location and Cyprus and run your personalised reports.