Buying a Cyprus Property

If you are considering buying a holiday home on the island of Cyprus, you will need to know a few basics. This article is part one of my ‘things you need to know' series.

Firstly, you need to ascertain if you are eligible, and if not find out what you need to do in order to become eligible. There are certain rules and regulations that are governed by the Cypriot Council of Ministers that essentially state that you have to ask permission to duty before you even embark on the journey. It's no rare to hear of permission being denied that I have never had the experience – however it is required none the less. If you are a European national who is not a resident of Cyprus, you can buy all the land you want but are limited to one home or apartment. If you are not a European national, you will still be able to purchase up to an acre of land which is plenty - and this land can contain one house or apartment which is all most people really dream of.

As such, it is strongly advised that you find yourself a Cypriot solicitor at the onset. Local representation is essential as you will not want to wade through all the paperwork and permits. When applying, you will have to submit the details of the identified property you want to buy as well as all the information about its current owner and contract information. In addition, you will have to reveal all your personal history like a passport, current residence and financial means of income.

Show me a man who enjoys bureaucracy and I will show you solicitor in the making. While a home in Cyprus will be worth the effort, be warned that the legal process for approval can take as long as six months – partly due to process and partly due to the pace of life in Cyprus. Fortunately, this is merely official process and you can in fact take move into your new property while waiting for approval.

Essentially, the core process of the process to buying a property is pretty much universal – give or take a few minor or not so minor details. This ‘not so minor detail' in Cyprus is the seeking and gaining approval from the Council of Ministers. Finding a dream property is the easy part – there are many of them to choose from! However, finding legal representation that you are able and comfortable to work with is also very important. This way, you can start living the dream and letting someone else deal with the process.

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