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In Cyprus, unlike other countries, the process of registration is fairly simple. According to the law relating to the purchase of property by, non-Cypriots are entitled to acquire an apartment, house or plot of land for the purpose of building , of an area of no more than 2,675 m sq. Non-Cypriots require the authorization of the Council of Ministers for the purchase of property. All the payments for the purchase of property have to be declared upon arrival in Cyprus, or made by bank transaction so that the buyer will be able to withdraw money at any time in Cyprus without difficulty.
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| According to Cyprus Law the contract exist in written form and it should be registered in Regional Land Registry Office within two month from the date of signature to guarantee
The protection of the legal rights of the buyer in the event of non-observance of the contract (This means that the property belongs to the buyer and the salesman can not sell it again to someone else. From this moment the buyer can take credit from Bank, according Banking Low, with nominal interest of 9% per year. |
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Provided that the buyer has the following documents- certificate of Cenral Bank, sanction of Ministerial Council, registration in the Land Registry office and fulfilment of all contractual obligation -the property passes to the buyers. Usually the process of Registration of the appropriate documents takes 6-12 month. The conclusion of the bargain the buyer is obliged to pay the stamp duty of 0,15% in each thousand Cyprus Pounds, if cost of the property does not exceed 100000 CYP but, if the property cost exceeds 100000 CYP the stamp duty is 0.2% of each 1000 CYP
TRANSFER OF TITLE DEEDS
The Title Deed of the property is a document in which details specifies the name of the owner. The buyer can transfer the property to his or the company's name at any time he wishes. Such a transfer can be carried out after receiving the permission the Council of Ministry. |
The following is pend for the transfer of the title deeds according to the cost of the property:
Up to 50000 CYP - 3%
50000-100000 CYP - 5%
1000000 CYP and more - 8%
OTHER CHARGES
Our company gives you the complete list of duties on operation of the property and its service it is such:
Payment of water and electricity depending on consumption.
Payment for cleaning of territory depending on the orders of local authorities and it is about 50-100 CYP. in a year.
The municipal taxes are not large than 20-50 CYP per year. In case of purchase flat in apartment story-building payments are established for thus by communal areas, such as the lift, ladder platforms, swimming pool and other. The sums of such payments depends on the type and size of the property. |
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Property for Rent
Landlords Required
If you own a property in Cyprus and would like to consider renting through our services please send us an email with your details for a FREE information pack.
Click here info@PropertyDirectCyprus.com
Rent a property in Cyprus
We have many properties for you to rent in all areas of Cyprus: Villas, Flats, Town houses, Executive homes. With sea views or in residential area.
q Paphos
q Troodos Mountains
q Limasol
q Nicosia
q Larnaca
q Ayia Napa
q Paralimni
q Protaras
q Famagustaarea
For either:
Short term - Holiday rentals - 1 - 4 weeks
Medium term - 1 to 6 Months while waiting for your property to be completed or any other medium term reason
Long term - 6 to 12 or more Months for a more permanent stay.
Please note;
Availability of property for rent can change on a daily bases, as there is a very high demand
click here info@propertydirectcyprus.com with your accommodation requirements to help you find your ideal property as fast and efficiently as possible:
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We will then search our records and get back to you, as soon as possible
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Property Direct Cyprus - rssfeeds
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