The most important aspect of buying property in Cyprus is the presence of the Property Title Deeds. Under the Cyprus law, only the presence of the property Title Deeds in your name identifies you as the absolute owner of that property with all the rights, responsibilities and privileges contained therein.
If you are prospective buyer and want to have the Title Search done for a particular property, you are considered as a “interested person” who is entitled to be furnished with this information from the Lands Registry office.
• Alien means a non citizen of the Republic
• Aliens means a company which is controlled by an alien
Citizen of a member state of the EU is not included in the definition of Alien
Basic principles of the EU Aquis Communautaire Treaty:
>Free movement of persons
>Free settling of persons
>Free movement of capital
>Free and unencumbered acquisition of immovable property
We at Fitzgerald’s believe that some matters are best left to the experts in the field. Buying property in Cyprus is a serious undertaking and we strongly advise all cliens to appoint a real estate lawyer specialising in the Cyprus Immovable Property Law to act on their behalf.
(The Immovable Property (Transfer and Mortgage) Law 9/65)
1. Local Taxes
All properties attract a transfer fees tax for the title deeds which is payable to the Government via the Land Registry.
The actual payment is affected by the price of the property and the number of purchasers.