Nicosia, known locally as Lefkosia is the capital and largest city of Cyprus. Nicosia is important commercially with many shops, two modern shopping malls, restaurants and entertainment. The city is a trade centre and manufactures textiles, leather, pottery, plastic, and other products. Copper mines are nearby. Nicosia is the seat of the University of Cyprus (UCY) and four other universities. 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 Nicosia is 332,000 (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 Nicosia, 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): Nicosia 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: High 10) Personal Care: Very Low 11) Recreation & Culture: High 12) Restaurants Meals Out and Hotels: High 13) Transport: High Nicosia is for example 1.1% more expensive than Houston TX for groceries, -18.6% cheaper for household costs than Kuala Lumpur, and 53.6% more expensive for transport costs than Dubai. The hardship premium for Nicosia for an expat from Perth, is for example 0%, i.e. host location (Nicosia) premium of 10% minus home (Perth) location premium of 10%. Nicosia is ranked as a minimal hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Nicosia? Register subscribe to your home location and Nicosia and run your personalised reports.