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Retiring Abroad to North Cyprus

For those of you seriously thinking about retiring abroad, North Cyprus could just be the right place for you. Apart from the obvious benefits of living on the island such as its agreeable climate and the slower pace of life, all we generally require of our retirement years is a decent income to live on, a good standard of living and healthcare, and perhaps the ability to have a few of those luxuries which we never afforded ourselves during our working lives – well, all of these benefits and advantages, necessities and luxuries are available in Northern Cyprus.

With the effective shrinking of the state pension in the UK for example, (and we’ve been warned about that for years), it may make sense to explore the benefits of retiring abroad – particularly to an affordable location such as Northern Cyprus.

There are the pros of reduced living costs in Northern Cyprus together with the fact that the expense of major assets such as a property are much reduced on the island. Prices for a home in North Cyprus are still a fraction of those in the south of the island and the rest of Europe too, so it’s well worth looking at as a retirement destination.

The Turkish Republic of Northern Cyprus does seem to tick the boxes for retirees and if you would like to know more, we detail below some more of the pros for its attraction for retirees:

Cost of living – the general cost of most things here – from buying your standard weekly supermarket items here to eating out in North Cyprus – can cost you a fraction of what you are used to paying in Europe. The GDP in Northern Cyprus is a lot lower than in many other European nations, and of course this has to be reflected in the cost of living. A retiree coming from the UK or even another EU nation will notice how much further the pennies go, and this of course ensures pension income goes so much further.

Residency status – some people may bemoan the process for obtaining residency in North Cyprus for its seemingly complicated rules and laborious nature, but you do not have to obtain permission in advance before arriving like some countries such as Australia or Canada for example. You only have to register your arrival with the police within a couple of weeks of moving to live permanently on the island, and from there the residency process is pretty simple as long as you have the necessary funds to support yourself, and your medical tests are satisfactory. It’s renewable once a year, and is never as hard the second time round!

Non-EU – currently being outside the EU, North Cyprus is not signed up to the terms and conditions of the EU Savings Tax Directive. It is therefore possible and legal to offshore all your money legitimately and only pay minimal tax on the money you remit to North Cyprus. There are plenty of financial advisers out there who specialise in international and offshore finance who can help you arrange your affairs legally and tax effectively (depending on your individual circumstances).

Quality healthcare – over the past few years North Cyprus has seen huge progress in healthcare in terms of private clinics, hospitals and healthcare centres, and in general anyone you speak to will be full of praise for the standards of care and professionalism within the North Cyprus healthcare sector. If you are retiring to North Cyprus you can join various healthcare schemes offered by private medical facilities, or you can obviously choose to take out private medical insurance of course, which is the advice that the majority of those who are retiring abroad are given.

Affordable property – the property market in North Cyprus, despite its boom time in the last few years, is still well known as being affordable. It is a fraction of the price of property in southern Cyprus and in the UK. There are also plenty of property types to choose from too, with apartments, penthouses, bungalows and villas as well as wonderfully restored older properties or even renovation projects should you really wish to take on something of that nature in retirement!

Attractive climate – we have to say that the climate in North Cyprus is pretty much perfect! The summer can start in April and last right on through to late October, with really short winter months, which although they can be chilly and rainy at times, are nothing compared to the rest of Europe. Many people will tell you that their health suffers much less in this climate and that the amount of time spent outdoors means they are much more active, and that a general sense of wellbeing prevails most of the time!

Travelling – with Ercan airport in the north and Larnaca and Paphos in the south, there is a great choice for flights to North Cyprus when thinking about ease of travel for yourselves as well as all those friends and family who will come to visit! Though Ercan does not have access to direct flights currently, all airports offer year round flights from all major European airports with an abundance of flight options. Cyprus also happens to be a great base if you plan to go travelling the world in your retirement, with connections to a myriad of locations just a short distance away.

Modern services – massive public and private investment is being pouring into infrastructure improvements across North Cyprus. Ok, so sometimes the electric in the TRNC does go for a couple of hours every now and again, but it’s not as bad as it used to be, and things are improving all the time. Updating of the road networks, water treatment facilities and power stations are all continuing apace, so you can feel assured that North Cyprus, despite its isolation, is able to upgrade just like everywhere else in the modern world.

Community spirit –soon after your arrival in North Cyprus you will hopefully become aware that the expat community on the island is both very well established and extremely active. The community can help settle you in to your new country by offering residents’ societies,  with social and charity groups in North Cyprus offering help and advice. For retirees wishing to remain part of a community this is a comforting thought indeed, as sometimes the initial difficulties and concerns that come with moving abroad are easily overcome with some advice and kind words.

Turkish Cypriot welcome – you will soon find that given half the chance the locals will want to adopt you into their own families! It may be slightly odd or strange at first as they will likely bring you a constant supply of food and invite you to their cousin’s weddings, but you will soon get used to it! There is nothing better than having Turkish Cypriot friends who can help you integrate into the local community in their own wonderful way. Many older generation locals have some great tales to tell, and can occupy you for many a pleasant hour sitting under the shade of an olive tree!

Language – mostly everyone in North Cyprus speaks English either fluently or has a basic gist anyway! Many also speak German too as there is a large Turkish Cypriot population living in Germany. Most locals will have had some English language education at school level anyhow, and those who have had the benefit of studying abroad certainly speak the language fluently, sometimes better than us in fact! However, retirement could mean you have some time on your hands, so it’s always a good idea to take time to try and learn Turkish when relocating to North Cyprus – if only the basic pleasantries!

Quality of life – we would have to say that the general quality of life in North Cyprus, especially for retirees, is superb. Historically the whole island is fascinating, with so much to see and do in North Cyprus. At certain times of the year the place is so full of community festivals and international musical feasts that you will have to pace yourself! Being a Mediterranean country, evenings are spent on your terrace with the friends and family who will no doubt flock to spend their holidays with you, offering the time and place for relaxation. During the day time, take your pick from sightseeing, shopping or sunbathing on one of the wonderful North Cyprus beaches!

So, we would like to advocate North Cyprus as a good bet for your retirement home, an ideal place to find a fantastic quality of affordable life, all set in a beautiful location!