Introduction

We are here to help you every step of the way. From your first instructions throughout the purchase process and beyond you will find our specialist team of lawyers dealing with conveyancing in Cyprus approachable, comprehensive and trustworthy. For as long as you need us we will be here to assist.

What Can I Buy?

The property you can purchase in Cyprus is dependent upon your status.

1. Foreigners not residing in Cyprus can buy and acquire the Title Deed to only one property on the island, (house or flat).
   
2. However, by a strange anomaly for Europeans, there is no restriction on the number of plots of land or on the amount of land they can buy.
   
3. According to the Immovable Property Acquisition (Aliens) Law Cap. 109, as amended by Laws 52/69, 55/72, 50/90 and 54(1)/03, approval to acquire immovable property is no longer required (since 1st May 2004, when Cyprus became a member of the European Community), in the following cases;
   
   

• For a citizen of a member state of the E.E.C. who has his/her permanent home in the Republic of Cyprus.
  
• For a legal person (company) who is registered according to the law of a member state of the E.E.C. and which has, as per the Constitution, the Head Office, the Central Administration and the main establishment, in the Republic of Cyprus.
  
• For a citizen of a member state of the E.E.C. who does not reside permanently in Cyprus in cases where he/she acquires property other than a secondary home (i.e. land).
  
• For a legal person (i.e. a company) who is registered according to the law of a State member of the E.E.C. and which has, as per the Constitution, the Head Office, the Central Administration of the Company and the main establishment in a member state, in cases of the acquisition of immovable property other than a secondary home (land).
  

According to Article 2 of the Immovable Property Acquisition (Aliens) Law, Conditions, Restrictions, Requirements, Criteria for the issue of the approval (Amended), Regulations 2004 K.D.P. 534/2004;

• A physical person to whom a permit to stay in the Republic of Cyprus is granted, according to the conditions of Article 7 and/or 11 and/or 18 and/or 30 and/or 37 and/or 57 of Free Movement and Residence of citizens of Member States Of the European Community and of the members of their families, Law (N92(1)/2003), is considered as having a place of permanent residence in Cyprus and
  
• A legal person who is registered according to the law of a Member State, means the legal person who has secured, according to the provisions of the company law, a certified copy of the Certificate of Registration and/or the Registered Office of the company.
  

A person living permanently in Cyprus can easily secure a certificate that he/she can use to acquire as many properties in Cyprus as he/she wishes.

The acquisition of the certificate is very simple. The citizen of a member state of the E.E.C. living in Cyprus, can visit the District Administration Office for the area in which he/she lives, along with his/her passport and Temporary Resident Permit. A form, giving their full name and address, will be filled in and a fee of CY£5.00 is required to be paid. In a few days they will receive the certificate, which gives them the right to acquire an unlimited number of properties of any size in Cyprus.

• Cyprus is now a part of the European Community and there is no longer a need to obtain a work permit to work in Cyprus.

The Procedure

The Stages for Purchase

1. Search on the title deeds of the property and obtaining registration and site plans from the Land Registry;
   
2. Obtaining and checking the building and planning permits.
   
3. Carrying out background financial and stability checks on the sellers.
   
4. Perusal of the proposed sale agreement and modifying the same, if necessary, to fully cover your interests or drafting our own contract;
   
5. Drafting power of attorney, if necessary, enabling us to act for you in your absence.
   
6. Attending signing of sale agreement;
   
7. Stamping and depositing sale agreement with the Land Registry for specific performance purposes;
   
8. Preparing and submitting on client’s behalf application for a licence to acquire immovable property in Cyprus;
   
9. Attending Land Registry and accepting transfer and registration of the property in client’s name and issuing title deeds.

The Cost

We recognise that buying property in Cyprus, whether for your personal use or for investment purposes, is likely to be one of the most important financial decisions you will make. Whilst we know that price is an important factor in the decision as to whether you will instruct us, we believe that the quality of advice and depth of experience that we are able to offer is unrivalled and we firmly believe that both of these factors should be of equal importance in reaching your choice of representative. Our team is dedicated to providing highest quality at an affordable price.

We strive to keep the costs for our clients as competitive as we can and we believe in keeping our clients fully informed of all anticipated costs in advance, through our quotation request service.

Our quotation will outline our legal fees, together with additional purchase costs such as stamp duty, transfer fees and costs of disbursements (such as the searches that we will incur on your behalf). In this way you will be able to budget effectively in advance for the purchase. We will keep you informed and seek your approval for any additional, unforeseen, costs incurred as they arise.

Please contact us for a quotation.

Additional Costs