What type of property can I own in Cyprus?

Written by Mark Vurnum


One ofrepparttar best things about buying property in Cyprus is that, within certain limits, your world really is your oyster, i.e. you can buy almost anything you want! Here,repparttar 136517 types of freehold property that non-Cypriots are currently allowed to purchase include:

∑apartments ∑villas ∑land; provided thatrepparttar 136518 total area ofrepparttar 136519 land does not exceed 4014 square meters

Having found a property that you like, that complies with these very minimal limitations, all you then need to do is to sign a purchase agreement for your chosen piece of property. Here, agreements to purchase property in Cyprus are generally very straightforward and routine. That said, as a non-Cypriot, you will need to submit an application torepparttar 136520 Council of Ministers requesting their approval to transferrepparttar 136521 property deeds to your name.

If you are not too worried about havingrepparttar 136522 property deeds in your own name, you can also buy property inrepparttar 136523 name of a company, and that company (which belongs to you) is also allowed to buy property to be used as a residence for any foreign employees it has in Cyprus, e.g. you!

Do I need to be a resident of Cyprus to buy property in Cyprus?

Written by Mark Vurnum


One ofrepparttar first questions that most of us when we are thinking about buying property abroad is whether or not we need to be a resident in that country. Given that a lot of countries aroundrepparttar 136516 world donít permit non-residents to buy freehold property, this is only a natural question to ask.

Untypically, and very much to its credit, Cyprus is not like most other foreign countries however as it has a very relaxed policy towards non-Cypriots buying property in Cyprus. That said, although you do not specifically need to be a resident in Cyprus, in order to be entitled to purchase and own property in Cyprus, as a non-resident you will need to comply with certain local regulations; including making an application torepparttar 136517 Council of Ministers to request their permission for you to put your name, as a non-Cypriot, onrepparttar 136518 property ownership deeds.

This process, between you applying torepparttar 136519 Council of Ministers to put your name onrepparttar 136520 property title deed, and your request being granted so that your name is shown onrepparttar 136521 property title deeds, can take up to 10 months. However, althoughrepparttar 136522 official process can take some time, once you have paidrepparttar 136523 purchase price forrepparttar 136524 property in question you are allowed to move in and live inrepparttar 136525 property you have just acquired - without needing to wait to get permission fromrepparttar 136526 Council of Ministers.

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