FAQ
(Frequently Asked Questions)
How can a prospective purchaser view the properties
advertised ?
We will assist you in the best possible way to make
thinks easy for you. We can assist you book your ticket,
make accommodation arrangements and even arrange to
pick you up from the airport. Our services also include
trips to the chosen properties and any other assistance
you might need. The first thing to do is to arrange
an appointment before hand, and we will be delighted
to meet you.
What properties can a non-Cypriot acquire?
In brief, buying a property in Cyprus is easy.
As a non-Cypriot you are entitled to purchase
a freehold property for your own use as follows:
A) An apartment or a house.
B) A villa on a site not exceeding 4,014 sq.metres.
C) A piece of land not exceeding 4,014 sq.metres
provided that a residence will be erected for
owner occupation soon.
D) Offshore entities can buy/built office or work
space.
E) A second home may be allowed depending on the
type and use of it (i.e. a holiday home in addition
to a permanent home in the capital city).
F) Acquisition of leases of more than 33 years
duration have the same treatment and restrictions
as buying freehold properties.
G) European citizens currently have the same limitations.
However, EU members will be treated as local residents
soon after Cyprus EU membership.
Which properties have title deeds?
All properties have title deeds and these are
issued by the Cyprus Land Registry Department,
a few years after the project is completed. For
properties that are under construction there is
no title deed and in this case the buyer will
deposit the contract of sale to the Land Registry
to safeguard ownership.
Can a loan be obtained from a financial institution
locally?
A loan can be easily obtained from any major
financial institution here in Cyprus in various
currencies. Normally a 30% contribution from the
lender is required and the 70% can be financed
through mortgage. Interest rates vary but as a
rule of thumb these are approximately 2% - 2.5%
above the base rate (LIBOR rate) with repayment
periods up to 15 to 20 years subject to the case.
What documents are required to complete the freehold
transfer of ownership (i.e. conveyancing procedure)?
For a property to be conveyed the following documents
are needed:
1. Sale of Contract (if any)
2. Council of Ministers Approval (permission to
purchase)
3. The property's title deeds (if any)
4. Written confirmation from the Central Bank
of Cyprus that purchase is done by foreign funds.
5. Confirmation that all municipal/local authorities
taxes are paid.
What are the services offered by us and why should
someone buy from us?
We are one of the largest property consultancy firms
in Cyprus. It was established in 1981 and the firm
is now active in all Real Estate Activities and Chartered
Surveying Practice. The company has an excellent track
record based on a strong professional ethic and a
reputation for integrity and quality of service. It
has links and associates in Cyprus, the UK and Greece.
We also offer a wide selection of properties from
developers with a proven track record. As we increasingly
extend our activities and services from property to
the broader areas of business strategy and consultancy
we believe that we are the best in our field. Our
firm currently deals with:
In addition, the firm provides the following
important services in order to secure the interests
of our clients:
Legal searches of properties to secure a clean
title with no legal or other hidden problems.
Professional Indemnity Insurance covering
every client up to the amount of US$ 300.000.
Full support throughout and after the transactions.
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Finally, our firm has as a primary target the
client, investor or collaborator to meet in our
premises a friend, a proper consultant as well
as a person that can fully trust. top
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