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Briton hails move to Cyprus

Article Date : Thursday, July 24, 2008       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Briton hails move to Cyprus

A retired Briton has told a newspaper why he has decided to leave the country and relocate to Cyprus.

Speaking to the Financial Times, 68-year-old Andy Leck said the Mediterranean island offers a number of advantages such as year-round sunshine.

However, he told the publication that monetary concerns have also played a part in influencing his decision to move to another country.

For example, he said Cyprus taxes just five per cent of a person's pension income, compared with 40 per cent in the UK.

This means that he can enjoy a higher amount of disposable income if he settles overseas.

Commenting on the disparity, Mr Leck said: "I save £40,000 a year by being in Cyprus rather than Britain."

This comes soon after Jet-to-Let magazine revealed that almost 40 per cent of prospective British buyers intend to buy a residence in Cyprus within the next year.
 

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