FAQ

In Order to assist our esteemed clientelle we offer a thorough explanation regarding legal and general information.

Who buys what ?

* All procedures mentioned below will change on 1st May (Cyprus will become a full member of the European council).


The procedure of acquiring real estate property in Cyprus by foreigners is relatively simple comparing to other EE countries. Although Cypriots or persons of Cypriot origin are allowed to purchase immovable property without any restrictions, aliens are permitted to acquire only one of the followings: 
1. Non-Cypriots are permitted to buy, for their personal use and not for commercial use, either: 
• One apartment
• One villa on a site not exceeding 2 donums (2,675 sq. metres)
• A building plot or a piece of land up to 2 donums (2,675 sq. metres)
* Please note that a couple (husband and wife) can only purchase one house, not one each.
2. Offshore Companies may acquire a property to locate their businesses without limits to the extent as well as residence for their foreign employees, provided the house is registered on the employee’s name. In certain circumstances, a non-Cypriot may be given permission to own a property that exceeds these dimensions or to be used for commercial purposes if the particular project aids tourism.

How Do I Make The Offer ?

The procedure is pretty much the same everywhere. You make an offer, and if it is accepted, then a nominal deposit of about CYP 2,000 to CYP 5,000 is being paid to reserve the property. Signing the contract follows after all parties involved have agreed to all terms. Upon signing the contract, the buyer must pay the vendor approximately 30% - 40% of the value of the property. The remaining amount is paid according to the terms agreed previously with the seller. (All terms and agreements are subject to negotiations) 

How Can I Pay For My Property ?

You are required to pay for your property from external funds. Through a ,bank drafts or cash (provided you declare the funds to the airport customs on arrival).

How Can I aquire residential permit ?

Residential permit
Residential Permit is given more easily to persons who have purchased property and are retiring in Cyprus. The granting of this permits based upon the level of foreign income available to support oneself and this includes pensions and income from investments. 
Temporary permit requires:
• Bank account in Cyprus 
• Sales agreement of a purchased property in Cyprus it is good up to fair years 

Permanent Permit Requires:
• The temporary requirements, and 
• A proved and secured annual income of not less than CYP 10.000 per couple