BEST PLACE TO RELOCATE: CYPRUS ON 5TH SPOT

Based on the 2013 Knight Frank Global Lifestyle Review, Cyprus ranks fifth as the best relocation destination in the world, after taking 23 countries under the loop.

Knight Frank is an independent, global real estate consultancy, providing residential and commercial property advisory services to individuals considering relocation for their businesses and families.

This review was developed as a guide for individuals considering the lifestyle element of a potential relocation alongside tax-related elements.

Cyprus offers various advantages for entrepreneurs, individual private investors, families as well as retired people looking for a profitable lifestyle change. Rated both for business and leisure, Cyprus was the only European country besides Switzerland among the top five.

Cyprus scored high for its many days of sunshine throughout the year and the availability of leisure options. The islands’ attractive tax system scored high as well, offering tax breaks for new residents on passive income and capital gains as well as on pensions and income from employment.

Dubai ranked first on the top five list of the best relocation destinations, followed by Palma de Mallorca, Cayman Islands, Geneva and Cyprus.

The key lifestyle factors Knight Frank took into consideration to prepare this review, which carry a significant role for the majority of individuals, are education, climate, leisure pursuits and quality restaurants. Dubai offers strong figures in three of these four categories. Of the other major worldwide cities, Geneva also topped the list, closely followed by Hong Kong for their reputable education system and variety of restaurants, but were further down on the list among the sunny countries.

With 320 days of sunshine and tolerable high temperatures per year, Cyprus ranked on the fifth spot, compared to Nassau and Tortola on the first place with 365 days of sun. On the scale for majority of international schools Cyprus landed on the ninth place. For its variety of leisure options, including golf, water sports, horse riding and theaters, Cyprus ranked second place. For its cost of living Cyprus received the first place.