The World’s Best Place To Retire

July 19, 2010 at 3:09 pm Leave a comment

Yesterday’s article in the Money Section of the Sunday Times reviewed the top five destinations to retire and a Country we to all about at Select Resorts topped the five are countries. The article analysed the destinations based on nine key indicators (a mark out of 10 was given to each):

1. Income Tax
2. Inheritance Tax
3. Property Tax
4. Property Costs
5. Living Costs
6. Ease of gaining residencey
7. Healthcare
8. Climate
9. Culture

Q. So who came out on top?
A. Cyprus

Voted the top country to retire to with a score of 66 out of 90. Key points were the tax that pensioners paid. They have a choice to either pay a flat rate of 5% on global income (there is a personal allowance – PA – of €3,420) or they can elect for a higher PA of €19,500 but you then pay income tax on a growing scale to a maximum of 30% on income over €36,300 – basically the lower incomes are more favourable on this scheme.

There is also no wealth tax and also no inheritance tax if you can prove that you have no links with the UK. Because it is a member of the EU Healthcare and residency is also a relatively easy affair.

Mark Bodega at HiFX, the currency broker, said: “As well as the climate and lower cost of living relative to the UK, the banking and legal systems are derived from British systems and will thus be familiar.”

The sun-soaked island of Cyprus is extremely easy to fall in love with and nothing epitomizes this more than Aphrodite Hills.

Aphrodite Hills is a genuine lively community that is exclusive, vibrant yet so relaxing.

For more information about Aphrodite Hills please follow the below link:

Aphrodite Hills – Cyprus Real Estate