If You Are Planning To Make Cyprus Your Second Home
If you are an EU national you will have home ownership. When it comes to non-EU nationals, there are some conditions you need to follow, for instance, you are eligible to purchase one property. If you plan to take out a loan to buy the property, you can contact the commercial bank to discuss information on how to obtain the loan. You will have to make a deposit of the purchasing price, as well as transfer fees and stamp duty.
There’s plenty of property available for rent, whether it is short or long-term. Rented property comes with heating and air conditioning but is usually not furnished. Rental contracts are usually signed from 1 to 2 years and can be renewed depending on the availability and so on. The deposit will be returned upon completing the contract and cost of all utilities are paid by the tenant.
The Central Bank of Cyprus is the primary banking system in the country. You can open a bank account for which you will be required to present your passport or identity card, confirmation of employment, proof of address and work permit or your Cyprus residence visa. Banking hours are from 8.30 to 1.20, however, ATMs function 24 hours allowing you to make withdrawals at any time.
You will drive on the left side of the road. The minimum driving age is 17 years and driving regulations are set by the European Union standards. Speed limit in residential areas is 50km/hr., rural areas is 80km/hr. and on the highway it can go up to 100km/hr. Certain international driving licenses are valid in Cyprus, however, if you’ve lived in the country for more than six months you are eligible to apply for a local driving license.
Private offices will open at 8 am and close by 5 pm. Government offices are open from Monday to Friday until mid-afternoon. Supermarkets and stores are open from Monday to Sunday between 9 am and 7 pm.
The legal age for drinking is 17 years.
The official language is Greek which is commonly used in public schools, however, the private schools use English as their main language. Students can get a free education at public schools but private schools require that students sit for an entrance exam.
Healthcare is free and is accessible across the Island. Some individuals may be eligible for subsidized healthcare or a medical card. Public healthcare is available in towns and villages.