Quote:
Originally Posted by DCooke
Just a couple of questions you guys may be able to help me out with.
I have just been offered a job in nicosia for CY£12K a year. Does this mean that i get £10K tax free, and then pay 20% on £2K?
Could i keep a my wife and 3 small children of this amount of money, (rent, bills, food etc).
Would it be possible to live in the north and work in the south, or are the politics still to complicated?
Any help you guys can offer would be most appreciated.
One further thing, when i look at the price of property in the south, how can anyone afford it. an average 3 bed house will set you back CY£180K. Unless the average wage quotes i have been given are incorrect. I heard that CY£1000 a month was classed as a decent wage.
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Hi
12k per year is a good wage here in Cyprus.
The cost of living on the whole is cheaper here than the Uk when you take everything into account but the cost of housing is expensive.
If you wanted to buy out here you would need to have 40% ofthe cost of the house as a downpayment. That would mean on a house of £180K you would need £70k cyp downpayment.
My advice would be to keep any money you have somewhere safely invested and rent until you are sure that things work out for you here in Cyprus.
This is not a good time to buy as the market is very slow and if things did not work out you might find yourself in a position where you had a house you cannot sell.
Living in the North and working in the South is not a viable idea because there are still too many political ramifications involved.
I do hope that things work out for you.
Best wishes for your future