Cyprus Property Regulations
By law, a non-Cypriot in Cyprus is entitled to a residence permit but is not required to hold a permanent residence permit the latter being easy to obtain once certain requirements are fulfilled. You need to submit an application and provide proof that you and your family are self supporting. The following documents must accompany your application: A copy of the sale/rental agreement Duplicates of pension/retirement income Any other document(s) relevant to income Three photos and passport(s) The application for permanent residence may be submitted to the local immigration office in the area of residence.
Permission to buy a property must be obtained from the Council of Ministers by written application. This must be submitted by the non-Cypriot purchaser after the agreement has been signed. However, the permission is granted more or less as a matter of course to all bona fide buyers. In the meantime purchasers may take possession of their property without restriction.
Upon the issue of the covering permit or, if this is not required, an application must be made to the Appropriate Authority for the issue of a certificate of final approval.When this is issued, it will have to be deposited at the District Lands’ Office so that the registration of the building on the title deed of the land is effected.
There’s an increasing tendency by the local and the foreign market (in particular the British market) to acquire old village houses which are subsequently improved/converted into modern residences.Before the “craze” of village cottages started, there were some real bargains for this nature of property. Nowadays cottages of character and colour are relatively pricey and they might amount, together with the repair improvement bills, in excess of what a new villa of the same size would cost.
The seashore protection zone is independent of the town planning zones. It is a zone which extends from the sea and it usually (but not always) has a width of approximately 300 feet. Within this zone no building can be granted, even a small hut, ice cream shed or a swimming pool. When there are ancient monuments close to your plot, be careful to examine whether the Director of Antiquities has any objections to a building project. If a plot of land is classified as an ancient monument area, the Director’s approval must first be sought.
Firstly, a preliminary contract is signed. This binds both the vendor and the purchase to buy and sell the property on terms and conditions that have been mutually agreed. This is subject to the purchaser being able to receive good...
Cyprus Property InvestmentThe contract in then longed with the Land Registry within two months if being signed which will prevent the vendor from selling the property on a second time, and will be a charge on the property pending completion.Application is made...
Sell Cyprus ApartmentsPermission to purchase a property must be obtained from the Council of Ministers by written application. This must be submitted by the non-Cypriot purchaser after the agreement has been signed. However, the permission is granted more or less as a...
Property Developers In CyprusCyprus is the lead nation that joined the European Union in 2004 which is another factor affecting the growth and prices in the property for sale market of Cyprus. It is expected that in the run-up to becoming a member...
Find Rural Property In CyprusThe Cyprus Property market is one of the fastest growing markets within Europe. Purchasers are attracted by the potential growth in terms of returns on investment of property in Cyprus compared to other countries in Europe and the UK. The...