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Buyers Guide

Buying property in Cyprus with Title Deeds

Buying property with Title Deeds Purchasers buying a property built some years ago or a one unit and not part of a complex, can acquire their Title Deed immediately.  The procedure is exactly the same as in the U.K. It is wise to appoint a local Lawyer. The Lawyer must then make a search and if the results are satisfactory, contracts can be exchanged immediately. The Vendor then provides t... [Read More]

Buying property in Cyprus without Title Deeds

Buying property  with out Title Deeds Purchasers buying property which is part of a complex will probably not be able to get their title deeds immediately if it is a new complex. If it is a resale from a previous buyer, and not the developer, the title deed might have been issued. Even if it is not issued, your purchase can be safe and secured if the appropriate safeguards are taken by y... [Read More]

Cyprus Property Laws

Legal System The legal system is Cyprus is largely based on the British equivalent and safeguards the purchaser’s rights in many ways. For the purchaser’s protection, once the agreement of property sale has been signed and a deposit paid, the Land Registry in Cyprus provides a simple and effective legal instrument called the “Specific Performance”. This procedure protects ... [Read More]

Cyprus Property Taxes

Transfer Fees The purchaser will be liable to pay the following transfer fees for the property acquired, when this is registered in his/her name at the Land Registry Office. The fees are charged on the property’s market value at the date of purchase. Property Value in € – % Up to 85,000 – 3%85,001 – 170,000 – 5%Over 170,000 – 8%(The rates above ap... [Read More]

Property Running Costs

Municipality ChargesMunicipality charges each household must pay for waste removal around €50 to €200 per year depending on the area. Communal ExpensesCommunal expenses are introduced in most of the complexes for maintenance of communal areas such as lifts, pools and gardens. Depending on the development, communal fees vary between €30 to €100 per month.  TelephoneThe st... [Read More]

The banking system and property finance in Cyprus

The banking system and regulations in Cyprus are of a European standard. The banks have many branches throughout the island, which are efficient, well equipped with the latest technology.  Non-Cypriot citizens may open foreign currency and local deposit accounts without difficulty. Quite a number of branches of many international banks are found operating on the island. Major credit cards, (e... [Read More]

Permanent Residency and Citizenship in Cyprus

Permanent Residency in Cyprus – Category F 
New and accelerated procedure for granting Immigration Permit to applicants who are third country nationals and intent to invest in the Republic of Cyprus 1. According to the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, the Minister of the Interior decided to issue Immigration Permit to applicants, who are thi... [Read More]