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Cyprus is one of the newest members of the European Union; they joined the prestigious union of rich countries last May of 2004. There’s a misconception that all European country has a high cost of living and will not be suitable for retirees. But North Cyprus is different; the cost of living in Cyprus is not as expensive as living in Spain, France and Italy.
Cyprus is divided into two, the North and South Cyprus. North Cyprus is governed by Turkish and is in fact a de facto type of government. South Cyprus is really where the European Union rule exists. Both divisions have different rules in acquiring residential permits; however, they are both worth to live in.
Capital: Nicosia (Lefkosia to Greek Cypriots, Lefkosa to Turkish Cypriots
Major languages: Greek, Turkish
Area (combined): 9,251 sq km (3,572 sq miles)
Population: 871,000 (combined) (UN, 2009)
Monetary unit: Euro; Turkish lira used in north