Real estate law

Property Transfer Fees & Stamp Duties, in Cyprus

Transfer of the ownership right from the developer to the buyer is accompanied by property registration tax paid by the buyer to the state, a so-called Transfer Fee. Transfer Fee is calculated based on the contract value of the real estate using the following scheme: Transfer Fee calculation: Real Estate Price Commission Fee Under EUR 85.430 3% From EUR 85.431 to EUR 170.860 5% Over EUR 170.861 8% Transfer fee is calculated in in the same way as in transactions on the secondary property market, i. READ MORE

Acquisition of immovable properties, in the occupied part of the Republic of Cyprus: Risks and possible Criminal Offenses

The Government of the Republic of Cyprus is the only recognized Government on the island – a member of the EU since 1.5.2004, as well as member of the UN and other International organizations. As a result of the Turkish military presence and occupation, the Government of the Republic of Cyprus is not in a position to exercise effective control over the occupied areas of the Republic. The so-called “TRNC” has been condemned and declared as both illegal and invalid by the whole of the International Community through Security Council Resolutions 541/83 and 550/84. READ MORE

Permission to Buy a Property in Cyprus

For non-Cypriots, the process of purchasing properties in Cyprus is very simple, especially when compared to other countries. Our team will be with you all the way, assisting you with anything that you may need. Non-EU citizens are entitled to freehold ownership of properties, while offshore entities may buy premises for their business or as a residence for their foreign employees. Permission to buy property must be sought from the Council of Ministers by written application, submitted by the non-EU purchaser after the agreement is signed. READ MORE

Residence and Employment Permit, within the Republic of Cyprus

Residence and employment permits are granted mainly on a temporary basis and for a specified position. In case of self-employed or legal persons, the Civil Registry and Migration Department is the competent authority for the first issue and subsequent renewal of residence permits granted to all non-Cypriots employed by legal persons in Cyprus. The Civil Registry and Migration Department acts in consultation with other competent authorities such as the Registrar of Companies, the Labor Department and the Cyprus Police. READ MORE

Legal Assistance in obtaining a Title Deed for properties

Are you facing problems in obtaining a title deed for your property in Cyprus? Cyprus Government with its new property Amnesty Bill has taken a huge step forward with the modernization and simplification of procedures and legal provisions that eventually lead to the security of updated title deeds by respective property owners. According to the new Planning Amnesty Laws of Cyprus that came into force on the 8th April 2011, any individual or legal entity may apply to the competent authority by submitting an application for the legalization of building irregularities or for the issue of updated title deeds. READ MORE