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help with relocation

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sarahjane

From: United Kingdom
4/6/2004 09:14 EST

Hi there! we are a family of three who are moving out to cyprus on 13 april 04,we have rented a property in limassol and have looked in to education for our nine year old daughter,i need some help regarding banking, we do already have a bank account in cyprus but we are unsure as to whether we should leave the bulk of our money in england or transfer it all over.
Also any information regarding jobs would be great,my patner is thinking of setting up his own business in garden work,do think there is much call for this,We would also consider buying a business,we would also like to meet up with some ex-pats to make friends.

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FPE

From: Cyprus
4/6/2004 22:30 EST

Hi Sarah Jane
Re: whether or not to leave your money in the Bank in UK or bring it all here. Much depends on what your intentions are for the monies.
If this money is all to be used to buy property/business and for living expenses in Cyprus then transfer it, however if some of it is to be kept as savings or for other investment purposes it may be wise to keep some in the UK until you have decided how best to make use of it.
In either event I would recommend that you keep a small balance on the account in the UK to keep it open. It is very difficult to open a UK bank account once you are an expat so always best to keep your existing one.

I know a couple of people in the Gardening business and they are kept busy so I imagine it would be a profitable business.
What kind of other business were you thinling of buying. I posted details of a Kids playland on one of the boards recently, if you want further info let me know. I also know that one of the Pizza Mia take away franchises in Limassol is for sale. Not cheap at around CYP 400k but the turnover is good.
Drop me an email before you arrive and I will give you my telephone number and we can arrange to meet up.
Vivian
vivian@financialplanningforexpats.com

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sarahjane

From: United Kingdom
4/10/2004 01:09 EST

Hi vivian, thanks for your advice.we are due to fly out on tues 13th,we would like to consider my partner starting up his own business,we will be offlinr for a while but i have another address that you can contact which belongs to my father in law who is already resident in cyprus.
peterpenny@cynternet.com.cy
many thanks
sarah

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