Table of Contents
All UK nationals are very aware of Brexit, whether we agree with them or not. Either way, there are new rules and regulations about living or buying property for sale in Paphos, Cyprus, or anywhere across Europe. The good news is that countries like Cyprus, amongst others, are still available to UK buyers. In fact, why not check out Pafilia and view their stunning portfolio of luxury properties across Cyprus? You’ll soon fall in love with the country and you’re bound to appreciate how easy it is to get residency status.
Impact of Brexit on Searching for Property for Sale in Europe
Brexit has impacted both the UK and Europe in many ways but in terms of searching for property for sale in Europe post-Brexit, here are some critical highlights to guide you:
- Time allowed in Europe
- Tax
- Golden Visa Residency permits
Time Allowed in Europe
British citizens are only allowed to spend up to 90 days in Europe during any 180-day period. One of the main reasons for this is for tax purposes. As you can imagine though, this has created a few hiccups during the pandemic when people found themselves stuck abroad for much longer periods of time.
The good news though is that Bulgaria, Croatia, Cyprus, and Romania are exempt from the rule. You can therefore spend 90 days in those countries without impacting your overall EU time quota. Therefore, searching for property for sale in Paphos, Cyprus becomes much easier because you have the extra time to explore.
Tax
Some European countries have special taxes for non-EU citizens who live in those countries. This is true in, for example, France and Spain. On the other hand, countries like Cyprus give you a residency fast track process so that you don’t have to pay extra taxes.
Golden Visa Residency Permits
As non-EU citizens, the British now have the option to buy what is known as a Golden Visa. These are essentially residency permits that you can obtain in exchange for investment in property or as a capital investment. For example, you can easily search for property for sale in Paphos Cyprus of at least 300,000 euros or more in value. That then allows you to fast-track your residency application within a couple of months.
Where to Search for Property for Sale in Europe
Now that Brexit is fully in place as of 1 January 2021, all British citizens are subject to the immigration laws of the relevant country where they might be searching for properties for sale. It doesn’t mean that you can’t buy your dream villa or bungalow in Europe. Instead, you’ll now have to deal with a bit more paperwork. Although, the following countries are worth taking note of:
- France, Spain, and Portugal were traditionally the most popular
- Today, Cyprus, Greece, and Malta are worth checking out
France, Spain, and Portugal have always been popular because of their stunning blend of Mediterranean lifestyle with gorgeous food and even skiing in France. Nevertheless, today Cyprus, Greece, and Malta offer all those things. Moreover, they also provide a far easier residency permit process that you can speed up by investing in property for sale.
Searching for property for sale in Paphos doesn’t just mean exploring idyllic villages such as Kissonerga or Tremithousa. It also means that you can ski in the morning in the Troodos Mountains and sunbathe in the afternoon by the Sea Caves or Coral Bay near Peyia.
Why Search for Property for Sale in Paphos?
Cyprus as a residential destination has a lot to offer. This includes everything ranging from great bars and restaurants to fun summer sports and even UNESCO heritage sites to visit. In fact, why not explore the following benefits of Cyprus real estate:
- Residency by investment program
- Property type for every budget
- Wide choice of area with lots on offer
Residency by Investment Programme
If you search for property for sale in Paphos then you’ll be able to leverage the investment you make to fast track your residency permit application. As mentioned, that means that by investing in property that’s worth at least 300,000 euros then you can expect to get your permit with 1 to 2 months. You’ll then be able to stay and live in Cyprus worry-free and apply for non-residency status in the UK.
Property Type for every Budget
As soon as you start exploring Paphos District, you’re bound to be impressed by just how much variety there is. You can opt for a 2 bedroom apartment in Kato Paphos, for instance, or focus on a detached house in the Aphrodite Hills.
Generally, a floor apartment is a more popular option for the rental market. Either way, you can expect to pay anything from around 60,000 euros and up to several million. Regardless, a property agent can guide you and make whatever property type you prefer work for your budget.
Wide choice of Area with lots on Offer
Paphos town center is both close to the international airport to the East and to the Akamas Peninsula National Park to the west. Actually, you’ll find that Paphos District is quite varied. It includes both the touristy town center as well as the quieter and charming surrounding villages. Again, you’re bound to find the right blend of entertainment or seclusion that you’re looking for.
Final Thoughts on Searching for Property for Sale in Paphos in the EU Post-Brexit
Naturally, Brexit has complicated things for those British who want to buy properties in Europe. Nevertheless, some countries such as Cyprus are trying to make it easy. Therefore, you can use your property investment to get your residency permit. Once you have that then you don’t have to worry about your paperwork. Instead, you can sit back and enjoy your new Mediterranean lifestyle and that sun we so crave back in the UK.
