Since 1970
Call us: +357 (24) 822 870 // www.palourtis.com

Newsletter

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 8 November 2019 Small rise in property sales

    October saw a marginal rise in Cyprus property sales compared to the... read more

  • 31 October 2019 Express Evictions For Bad Payers

    Parliament's plenary session on November 22 will put forward a bill tabled by... read more

  • 9 October 2019 Landmark Agreement between Cyprus and the United Kingdom

    FULL details of the landmark agreement between Cyprus and the United Kingdom... read more

  • 3 October 2019 Breaking News Potential Change to Definition of Russian Tax Residency for Individuals

    Individuals spending 90 days a year in Russia, or having their centre of... read more

  • 10 September 2019 Many Home dwellers few are the first borrower applications

    Implementation of the Home plan has not begun with the best odds, as... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 8 November 2019 Small rise in property sales

    October saw a marginal rise in Cyprus property sales compared to the... read more

  • 31 October 2019 Express Evictions For Bad Payers

    Parliament's plenary session on November 22 will put forward a bill tabled by... read more

  • 9 October 2019 Landmark Agreement between Cyprus and the United Kingdom

    FULL details of the landmark agreement between Cyprus and the United Kingdom... read more

  • 3 October 2019 Breaking News Potential Change to Definition of Russian Tax Residency for Individuals

    Individuals spending 90 days a year in Russia, or having their centre of... read more

  • 10 September 2019 Many Home dwellers few are the first borrower applications

    Implementation of the Home plan has not begun with the best odds, as... read more

Buying process

Permission to buy property:

Non- Eu citizens are entitled to freehold ownership of properties and offshore entities may buy premises for their business or residence for their foreign employees. Permission to buy property must be sought from the District Officer by written application, which must be submitted by the non –Eu citizen purchaser after the contract of sale is signed. This permission is granted more or less as a matter of course to all bona fide purchasers. In the meantime, however, purchasers may take possession of their property without restriction. The same applies to EU citizens that are not resident in Cyprus. EU citizens are the permanent citizens in Cyprus do not require permission to buy any immovable property.

EU citizens can register as many properties as they wish in their name.

Legal entities established in EU countries that have their headquarters and registered office in Cyprus, do not require permission to buy any immovable property. Legal entities established in Cyprus and controlled by citizens of the EU require permission to buy immovable property in Cyprus as well as other legal entities.

Legal cost:

Legal fees vary according to the price of the property but the fee of an experienced property solicitor is usual between €1.500 - €2.000.