Immovable property


Buying Property in Cyprus

Buying Property in Cyprus

Who needs permission to buy property in Cyprus?Non-Cypriot persons wishing to purchase property in Cyprus must submit a written application to the Council of Minister after signing the contract of sale. As long as this is done within a reasonable time, moving into the property is allowed. In most cases permission is just a formality if you meet the criteria that the Cypriot Government has in place. Legal entities controlled by citizens of the EU require permission to buy immovable property unless they have their headquarters in the country.Who does not need permission to buy property in Cyprus?EU citizens who are permanent residents in Cyprus do not require permission to buy immovable property and they can register multiple properties provided they stay in the country for the following 5 years.EU companies that have their headquarters and registered offices in Cyprus do not require permission to buy immovable property.