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Cyprus Key Facts

Information on some Cyprus Key Facts...

  • Local Time UK time +2
  • Language Greek, Turkish, English
  • Local currency Pound (CYP) (Changes to Euro in January 2008)
  • Dialling code from UK + 357
  • GDP 2006: US $17.6bn; US $21,088 per capita
  • UK exports to Cyprus were valued at £1.02m in 2006

    The northern part of the island refers to itself as the 'Turkish Republic of Northern Cyprus' (TRNC). It is not recognised by the UK, EU or UN, or by any other country except Turkey.

    Cypriots enjoy one of the highest standards of living in the EU, and unemployment is low. Like most island economies, Cyprus is very dependent on imports. The main imports from all nations are:

  • Road vehicles
  • Power-generating equipment
  • Machinery
  • Medicines and pharmaceutical products
  • Clothing
  • Food and drink

    Cyprus Key Facts - Travel to the North of Cyprus
    As the "TRNC" is not internationally recognised, flights to and from the north are made with a stopover via Turkey. Total travelling time from 'Ercan' airport in the north to London is six hours. There are also daily ferryboat services between the north and Turkey.

    It is possible to travel to the north of Cyprus from the south by crossing at several checkpoints, including the Ledra Palace checkpoint in central Nicosia. You may take a hire car through the checkpoints, except at Ledra Palace, which is for pedestrians only. However, you are strongly advised to check the insurance implications with your car hire company before doing so. It is possible to hire a car once you have crossed into the north. There are controls on the quantities and types of goods that can be purchased in the north and brought to the south. Other goods may be confiscated at the checkpoint upon return to the south.

    Source: www.uktradeinvest.gov.uk

    Cyprus Key Facts - Purchasing Property
    Before purchasing property anywhere in Cyprus you are strongly advised to seek independent qualified legal advice. Property issues are closely linked to the political situation (see Cyprus Country Profile) There are a number of potential practical, financial and legal implications, particularly for those considering buying property in the north - these relate to the non-recognition of the "Turkish Republic of Northern Cyprus", the possibility of a future political settlement in Cyprus and claims to ownership from people displaced since 1974.There is also a risk that purchasers would face legal proceedings in the courts of the Republic of Cyprus, as well as attempts to enforce judgements from the courts of the Republic of Cyprus elsewhere in the EU, including the UK. Separately, there are specific rules for foreigners purchasing property in the north and you should ensure you are fully aware of these.

    Source: www.uktradeinvest.gov.uk




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