As one the future Expats or Digital Nomads in Larnaca, you want to live somewhere that fulfills your expectations and needs. Larnaca has several beneficial aspects to consider. With a gorgeous terrain, a friendly culture, a stable economic climate, straightforward immigration regulations, and an appealing taxing structure.
Larnaca’s Digital Nomad community is quickly expanding, allowing you to settle into a community of like-minded people. The economic and political systems are geared up to welcome and encourage immigrants to settle and stay for as long as they desire.
Cyprus’ newcomers feel welcome because of our openness and hospitality to foreginers. In this post, we’ll look at why Larnaca is such a popular destination for digital nomads.
The beneficial factors for moving to Larnaca as a Digital Nomad:
1. Taxation
As one of Europe’s most attractive tax regimes, digital nomads in Larnaca benefit the most.
You can become a tax resident by having the following:
- A permanent home on the island
- Holding a business or being an employer in the country
- Spending more than 183 days a year in Cyprus
- Spending at least 60 days in Cyprus (without being taxed in other countries)
Amongst these, Cyprus has the lowest corporate income taxation (12.5%) in the E.U. An attractive tax exemption and low business operational costs. See the article for further information.
It is essential to highlight that Cyprus laws clearly distinguish between a resident and a domiciled person. A domiciled person was born on the island or has lived in Cyprus for more than 17 years.
2. A welcoming culture & relaxed but productive lifestyle
The culture in Cyprus has a warm, loving, welcoming feeling. Cypriots are well-known for their hospitality, and life in Cyprus is calm, collective, and meant to be enjoyed. There are opportunities to indulge in local activities such as beach volleyball, tennis, yoga classes, dog walking, etc. There’s always something to explore, with gorgeous coastal walks, historical monuments to visit, and hikes on both the high and low points of the island.
Not only is Cyprus known for its picturesque lifestyle, but there’s also a huge focus on technology and finance and growing foreign investment hotspots. There are coworking spaces, spaces to take your laptop in coffee shops, and regular meetups amongst communities, allowing you, as a digital nomad in Larnaca, to meet new people.
3. Business & ease of set-up for digital nomads in Larnaca
Setting up a business is a rapid and straightforward procedure. It’s essential to speak to a reliable company that can guide you through the process and provides you with relevant lawyers, accountants, etc. Sunshadow provides this service as a package and offers free consultations for digital nomads in Larnaca. There are financial incentives for setting up a business in Cyprus, which has become popular amongst the digital nomad community. If you’re relocating your business rather than setting it up, we have an article on the benefits of relocating your business to Cyprus, which you can read for further information.
4. The landscape and history
Cyprus is the epitome of the Mediterranean lifestyle combined with a historical, cultural, and natural blend of beauty across the island. For digital nomads in Larnaca, there’s an abundance of opportunities to explore. The natural beauty of open bays, cliffs, and rocks. A mix of sandy beaches, steep mountains, and crystal clear waters.
Cyprus may be a small island; however, it has a long history and a rich culture that spans 11.000 years, making it one of the oldest civilizations in the Mediterranean.
For digital nomads, this means ample ways to enjoy the country.
5. Quality of living expenses and transportation
There is competitive pricing when it comes to properties compared to other European countries. Cyprus has a much lower cost of living than similar countries, ranking 27th in the Economist Intelligence Unit’s 2019 Quality of Life rating.
So whether you’re looking for an apartment in the city center or something more significant, quieter on the outskirts, there are possibilities of finding a suitable fit.
Transport is limited across the island, so it’s recommended to have access to a car. There are no trains in Cyprus; however, buses are available within and across cities. It’s not essential however the freedom you’ll have with the car is more significant. Saying this, once you’re indulged in the Digital Nomad community, somebody is bound to have a car.
Check Cyprus by Bus website
Conclusion
Having touched on settling into Cyprus, as a Digital Nomad in Larnaca, we’re happy to answer any questions regarding relocating your business and searching for a rental property that suits you. Do not hesitate to contact us at info@sunshadowinvest.com or call us at +357 24 816246 or Book a 20-Minutes Online Meeting.
Related: Digital Nomads in Cyprus: 10 Essential Reasons to Choose Cyprus in 2022
