Cyprus Real Estate & Business Insights – January 2025 ?? Welcome to the first edition of our newsletter, in which we summarize the most recent developments in the real estate and economic market of Cyprus! With 2025 just around the corner, investors and entrepreneurs continue to see opportunities in the real estate and financial
When living or working in Cyprus, you are required to have at least social security and participate in the national healthcare system (GESY). If you own a car, third-party liability insurance is mandatory; if you are an employer, liability insurance for your staff is required; and if you buy or rent a home, fire/home insurance is strongly recommended. In addition, there are several recommended supplementary insurance policies for added security: think of private health insurance, professional liability, income protection, general liability, travel and life insurance, cyber insurance, and, specifically for real estate investors, landlord/property insurance.
This page shows that a rental car is virtually indispensable for exploring the island properly. Taxis are more expensive and public transport is limited. You drive on the left, and as an EU citizen, you need a European driving licence, a deposit or credit card, and preferably insurance against damage. Expect budget prices starting from around €15-25 per day in the low season, and an alternative such as car sharing for short periods is also available (from around €5-8 per hour). Book well in advance, check the insurance, and make a video (360-degree tour) of the car before departure to avoid disputes afterwards.
Whether you're an entrepreneur or a digital nomad, want a holding structure, can work remotely, or are looking for unique real estate opportunities, this newsletter is for you.
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