The Buying Process:

Buying a property in Cyprus is relatively straight forward, however there is one main consideration, which is that non-Cypriot residents require permission from the Council of Ministers to purchase a property. This is granted through submitting a written application once an agreement has been signed, however, the permission is granted more or less as a matter of course to all bona fide buyers.

Non-Cypriot individuals residing in Cyprus pay income tax at a flat rate of just 5% and there is no inheritance tax.

Here we have simplified the buying process for you:

• You give us your property requirements

• We arrange a viewing trip to view a selection of properties that match your requirements or we send you details of the properties that you have chosen from our website.

• We arrange for a meeting with our recommended mortgage advisor and legal advisor either in the UK or in Cyprus.

• When you have chosen your ideal property, a non-refundable reservation fee of CY£2,000, in the form of a personal check will be due.

• The next stage of buying a property in Cyprus is to sign a contract to purchase and to pay a 20 or 30% deposit. A completion date is then agreed when the balance is paid and the property ownership is transferred.

It is advisable to always keep an extra 7-10% for taxes and legal fees.

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