As of 2024, it has been estimated that there are currently 40,000 British nationals living in Cyprus, with up to 15,000 of those based on the north of the island in Northern Cyprus.
Cyprus is an attractive location for British expats for many reasons. It has affordable living costs, a relaxed way of life, and is very accessible for expats. Combined with the Mediterranean weather and cuisine, English is also widely spoken and seen on street signs.
Looking to move to Cyprus from the UK? In this guide, we’ll be outlining everything you need to know as well as providing you with a checklist to make sure you have everything in place.
Obtaining a visa
First of all, you will need to secure a visa in order to move to Cyprus permanently.
If you are just visiting Cyprus for under 90 days, then you won’t be required to get a visa. Despite no longer being in the EU, the UK is on a list of non-EU/EEFTA countries which are tourist visa-exempt.
You can check on the website of the Republic of Cyprus Ministry of Foreign Affairs for all countries that do not require a visa to stay for up to 90 days.
Staying longer than 90 days
If you are staying longer than 90 days, and looking to move to Cyprus permanently, then you will need to apply for a Temporary Residence Permit, known as a Cyprus Pink Slip.
This must be applied for within four months of arrival.
There are also some restrictions to this type of visa. With a Pink Slip visa, you cannot be outside of Cyprus for more than three months continuously. This visa is also not a work visa, you must apply for a separate work visa if you wish to work in Cyprus.
Your Pink Slip visa is valid for one year and can then be renewed annually, provided that you still meet the requirements.
Other types of visa
There are many other types of visas that you can obtain if you are looking to move to Cyprus.
As the UK is no longer part of the EU, and Cyprus joined the EU in 2014, you must now apply for a work permit on top of your residence permit.
After your work permit has been received, the final stage is to then apply for a Cyprus work visa, which is simply an extra visa that allows you to enter the country for the purpose of employment.
This means to move to Cyprus for work you will need (in order):
- A residence permit
- A Cyprus work permit
- A Cyprus work visa
Becoming a permanent resident & citizen
Once you have passed five years of continuous residence, then you can apply for long-term residence, which is essentially an unlimited residence in the country, as long as you remain compliant with the visa.
To get this long-term residence, you are required to pass a Greek language test, which is at the A2 level of the Common European Framework of Reference (CEFR).
After eight years of residency, you will then be eligible to apply for citizenship. You can see all the requirements on the European Commission’s website.
If you are married to a Cypriot citizen, then you can apply for citizenship within three years.
In some cases, highly skilled workers can apply for citizenship after 4 or 5 years of residence if they pass a Greek language test.
Accommodation
According to Numbeo, the cost of living is 14% lower in Cyprus than it is in the UK.
You should also be aware that UK nationals are only allowed to buy one property in Cyprus, and you are also forbidden from renting it out. This is to ensure that the cost of living in Cyprus is maintained and there are no empty communities for large parts of the year.
There are plenty of options for accommodation in Cyprus, and expats will have a variety of choices of where to live, from modern apartments to more rural villas.
Banking
Foreign nationals can open a Cypriot bank account, so if you are a UK expat, this is something that can be done relatively easily.
Some of the top banks in Cyprus include:
- Bank of Cyprus
- Hellenic Bank
- Eurobank Cyprus
- Alpha Bank Cyprus
- AstroBank
- Societe Generale Bank Cyprus
- Ancoria Bank
- Cyprus Development Bank
- National Bank of Greece (Cyprus)
You can start most of the applications for these banks online, so you can get a head start on the process before you travel to Cyprus. This can be particularly useful if you’re looking to get set up quickly and efficiently in the country.
Since 2008, Cyprus has been using the euro and is within the eurozone.
Tax in Cyprus
Tax in Cyprus is similar to that in the UK.
Everything under €19,500 is tax-free, until a 20% income tax.
Then the tax bands increase at a similar cadence:
- €28.001 – €36.300 – 25%
- €36.301 – €60.000 – 30%
- €60.000 – €100.000+ – 35%
Cyprus also has the 183-day rule and the 60-day rule, which vary based on your tax status, and will determine how soon you need to start paying taxes. You can check SPL Audit Cyprus’ website for more details.
Conclusion
Moving to Cyprus can be a complicated decision, but it can be an incredibly worthwhile transition. Cyprus is well-adjusted for expats from the UK, and approximately 80% of the population has a strong level of English.
There are multiple accommodation options too, and regardless of your choice, the weather in Cyprus is known for being consistently warm and sunny.
If you’re looking to buy property in Cyprus or move there, then sign up for an account with CurrencyTransfer today for free, and you’ll be assigned an account manager who can guide you on your new journey.
As always, for currency news and insight into the ever-changing world of currency, make sure to stay up to date with our Expert Analysis, as well as our daily Market Commentary.
Caleb Hinton
Caleb is a writer specialising in financial copy. He has a background in copywriting, banking, digital wallets, and SEO – and enjoys writing in his spare time too, as well as language learning, chess and investing.
