Cyprus Expat Forum

rms977
Joined 2005
Posts: 2

18 years ago

US Citizen inquiring about relocating to Cyprus

18 years ago

I am a US citizen looking to permanently move to Cyprus. I know that Cyprus is quite popular with the Brits but I am trying to find info about the feasibility of a US citizen moving to Cyprus. I am looking for information regarding the cost of living in Cyprus relative to the US. I can find plenty about the cost of living relative to the UK but I do not have info on what the cost of living in the UK is relative to the US and would rather just have a direct comparison of Cyprus to US.

I am also looking for some feedback on what kind of documentation is necessary to prove you have enough income to permanently reside in Cyprus. I hope to retire early and so only my investment income is available to me until I reach the age where I can start receiving my money from my pensions and social security (I am 46 right now). Would bank statements and brokerage account statements be sufficient? What would be the minimum amount I would need to show on those statements?

Assuming that I bought a flat and paid for it in full, what would be a reasonable annual expense for a single person living in Cyprus - I live a relatively simple lifestyle. Include property taxes, utilities, phone, satellite TV, internet, food. Is a car necessary in Cyprus? What would the costs be to own and maintain a car there?

I have been viewing property on-line and hope to check some out in July. When making an offer on a property, how much lower than the asking price should I offer? Is there a standard percentage to offer? How do I determine what would be a fair price to offer when I know little of the housing market in Cyprus? Property values seem to be increasing and lots of new properties are being built. Any ideas about how many more years it will be before there will be no affordable housing left in Cyprus?

All information would be greatly appreciated.

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