Buying in Leivadia nr Larnaca

[jeffrey Streets]

Hi,

I hope to finalise my purchase of my penthouse at the end of January and use it mainly for vacation and long term residence later. I have a recruitment business in UK which I would like to transfer to Cyprus. Is there anyone who can offer some advice on this subject?

Best regards

[Pam n Dave]

Hi Jeffrey,

I am also moving to Cyprus hopefully in the New Year, in the UK I've used recruitment agency's both as a jobseeker and as a recruiter. In the early stages of my decision-making I did look for jobs in Cyprus but was unable to identify any decent recruitment agencies based in Cyprus. I'm not sure if this is because the overall market is too small or if there is a real need that you could fulfil.

I certainly wouldn't move over on the strength of building a business in Cyprus, if you currently have a successful business in the UK then my plan of action would be to use some of the funds from that to open a Cyprus branch, if the Cyprus branch turned out to be successful then think about selling the UK operation at a later date.

If you need any professional advice there is a branch of PwC in Cyprus.

These are just my thoughts but it may give you some more ideas.

Dave.

[jeffrey Streets]

Dave

Thankyou for the advice and at this moment I am in contact with my solicitor in Cyprus to do just that. Fortunately for me my recruitment agency "Safety Solutions Worldwide Limited" can work anywhere as I deal locally and internationally. Cyprus is a cheaper option from an office and salary perpective. My purchase of a home there is mainly for holidays and later long term.
Which part of Cyprus are you moving to?

Best regards
Jeffrey

[Pam n Dave]

Hi Jeffrey,

It looks as though you have most things sewn up. I think that you are following in our footsteps to a certain extent, we bought an apartment in Polis to use as a bolthole and then decided that we we would like to move to Cyprus permanently.

I have heard a couple of other people say that setting up a company in Cyprus can be quite expensive and time-consuming so if you need to do this then plan ahead. One that trick that I have heard that may help speed things up is to use the same name as the UK company but add (Cyprus) Ltd at the end. Apparently the guidelines for selecting the company name are a little stricter in Cyprus than in the UK.

Dave.