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Procedure of property purchase in Cyprus

The constantly developing Cyprus real estate market is a promising place for investments for the acquisition of residential and commercial properties. Prime Property Group will help you explore the property market of the island, through a transparent and straight-forward procedure. The final purchase process is mapped out below, making your decision to become a Cyprus property-owner a unique and exciting experience.

Step 1. Selection

Like any other business decision, the buying procedure begins with a choice, namely with the selection of suitable properties. To narrow down the search process among a huge number of different proposals, it is necessary to determine those basic parameters which apply to your case:

  • The future purchase budget corridor – the price borders which you are ready to act within

  • Location – priority cities and areas where the property must be located (in descending order, if there are several areas)

  • Landmarks: an active urban centre, a quiet suburb, a village (remoteness from the city centre in minutes of drive), a completely isolated corner of the countryside

  • Whether you prefer a sea or mountain view

  • Property type: apartments (with garden, without), villa, penthouse, townhouse, duplex, studio, bungalow, commercial

  • All information concerning the approximate project plan of the object – number of rooms, bedrooms and bathrooms, the desired area (general and separate for each room), etc.

  • All necessary infrastructure availability and proximity: shops, cafes, restaurants, schools, kindergartens, main roads, airports

  • Stage: new building, secondary market, project state

Once you have decided on the most complete description of the future acquisition, you will need to choose between two options

Option 1 – Independent search in the catalogue

At this stage, you may, without the participation of our specialists, review the objects (presented on our website) in the selected category, using convenient navigation, to optimize the search by sorting out the request for the city, real estate type, price, number of bedrooms, availability of certain additional options. Through our website, you will be able to see the exact location of the selected building on the map, using the "Show on map" button – upper right corner of the page. Each proposal you are interested in can be studied in more detail, including photos, descriptions. analyzing the advantages of the selected properties, noting down favorites and using the compare functions to see the real differences between your property choices.

Option 2 – Using help of PPG Managers

You may also use the extensive expertise of our PPG Managers to fully advise you on your selected properties. You may call us through the phone, order a callback, write an email or ask questions in online chat. Whichever option you choose, the next step is a study tour, where you can personally inspect all the properties that interest you, accompanied by our company’s competent PPG Managers.

Step 2. Trial Trip

For more detailed study of all the options for a future purchase, having approved the preliminary program of the visit and agreeing on other main points (booking a hotel or making a short-term lease contract for a temporary accommodation place, settling questions about the documentation required for a trip), You may then proceed with an orientation tour.

Citizens of Russia and Ukraine can enter the territory of Cyprus by electronic pro-visa. Conditions for obtaining it:

I. Entry is possible only by plane (only via Larnaca, Paphos airports) directly from the Russian Federation territory (for Russians), Ukraine (for Ukrainians), and the return trip can be anywhere in the world.

II. Pro-visa is issued for 90 days. You may subsequently visit the country in this way once every 6 months.

III. Requirements for the passport: validity – more than 6 months, any child must present a separate passport availability.

IV. For Russians, You can fill out the questionnaire on the following links: http://www.mfa.gov.cy/mfa/Embassies/embassy_moscow.nsf; for Ukrainians – download at: http://www.mfa.gov.cy/mfa/embassies/embassy_kiev.nsf, fill out and send by email.

V. Pro-visa must be printed for presentation at the airport.

The advantages of this visa kind obtaining:

  • Free

  • Terms from 1 to 3 working days per electronic mailbox, without mandatory visit to the Consulate

  • No need to collect letters of employment, book accommodation, tickets, take photos

  • At your request, filling out and sending out questionnaires for visa obtaining can be taken by our staf

We are often asked if it is possible to visit Cyprus using the Schengen visa? This is possible, but there is a certain condition – Russians and Ukrainians using this visa must have already visited at least one country. For citizens of other countries, it is necessary to obtain a guest or tourist visa.

Step 3. Conclusion of the preliminary contract

Once your tour is successful and the final choice has been made, what's next? A preliminary contract, which allows the buyer to reserve the selected option (usually for a period of up to 1 – 1.5 months), and make a reservation deposit, which is 1–2% of the object value is completed. At this stage, the transaction’s legal substance is also checked and its final conditions agreed.

The licensed lawyer can be entrusted with the verification of documents and property, preparation and agreement of the contract.

Step 4. Opening an account with a Cypriot bank

The chosen banking institution will make all required payments to the property seller on your behalf. To open a bank account quickly, you may use legal help. 
A bank account is also necessary if you decide to pay for the purchase through a mortgage loan. Should the procedure not be clear or if you require further clarifications at this stage, our staff can help you further.

Step 5. Preparation of the sale contract

When the preparatory stage is completed, you may proceed to the final transaction stage. Once you sign the sale contract, pay the required stamp duty, and making half the housing cost, your lawyer must file an application with the Cyprus Council of Ministers and obtain a permit. As a rule, this process is a mere formality, if this is the first real estate purchase bought in Cyprus and your name does not appear on Interpol's lists due to any legal problems.

Step 6. Document registration

A perfect purchase must be registered in the District Land Department. A package of documents is collected and submitted by a lawyer. After registration, information about the purchased property is entered in the Land Registry. This serves as a confirmation of the ownership right until the title of the owner is obtained.

Step 7. Completion of mutual settlements

After receiving approval for a VAT exemption, buying a primary property market (secondary housing is not subject to VAT), payment can be transferred directly to the property seller’s account. At this stage, you, having entered into the possession right, receive the keys to your own ready-made property. If the property is not yet completed, it is recommended to use the ESCROW system, which most Cyprus lawyers will guide you through. In this case, the amount of payment will be transferred to the seller gradually, as construction progresses.

Step 8. Obtaining of the Title Deed

If the property is bought in the secondary market, it can be done immediately. Sellers of new and under construction real estate usually do not have titles yet, so the buyer will have to wait. At this time, the right to property will be confirmed by the sale contract, registered in the Land Department. The application for the title on behalf of the client is filed by a lawyer.

Step 9. Starting a new life

After paying the transfer fee and the purchase procedure is completed, the most exciting stage begins – the stage of arrangement. At this step, you may also rely on the experience and knowledge of Prime Property Group specialists to guide you through starting a new life in Cyprus.

Ongoing support

If you have any questions about how to buy a property in Cyprus, our specialists will answer questions, help you dispel doubts and help you choose and purchase any property you like.

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Head office in Limassol
  • Ambelakion 28 Street,
    P. Germasogeia
    4046 Limassol, Cyprus
  • +357(25)-315-300
Office in Larnaca
  • Kalogirou Bldg, Shop 5,
    21 Agias Fenaromeni
    6025 Larnaca, Cyprus
  • +357(24)-342-050
Office in Paphos
  • Corner building with
    Tombs of The Kings Ave. &
    17 Aristarchou street
    8015 Paphos, Cyprus
  • +357(26)-962-365
Office in China
  • Room 64741, Yayuan Apartment,
    Beijing Friendship Hotel,
    No.1 Zhongguancun South street,
    Haidian District, Beijing, China.
  • +8618668900529
Office in Moscow
  • Мантулинская ул., 14, ЗАО
    123111 Москва, Россия Время работы:
    Пн-Пт: 09:00 – 19:00
    Сб: 10:00–16:00
    Вс: выходной
  • +7(495)-984-09-98
Office in St. Petersburg
  • Невский Проспект, 22-24, лит. А, пом. 24
    Санкт-Петербург, Россия, 191186
  • +7(812)-612-26-20
Office in Dubai
  • Level 20, 48 Burj Gate, Dubai Mall metro station, Dubai
  • +357-(25)-315-300
Office in Nicosia
  • 56 Stavrou Avenue Strovolos, 2035 Nicosia, Cyprus
  • +357-(22)-373-150

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Налоги и пошлины

ID: 6399
Сбор за перевод права собственности (единоразовый)
1445.7 € (1.57 %) один владелец
1380 € (1.50 %) два владельца
Гербовый сбор (единоразовый)
138 € (0.15%)
Налог на недвижимое имущество (ежегодный)
75 € (0.08 %)
Муниципальный налог (ежегодный)
250 €/год (0.27 %)
Стоимость юридического сопровождения (единоразовая)
736 € (0.8 %) — 920 € (1 %)

Более подробную информацию о налогах и сборах при покупке недвижимости на Кипре вы можете получить на нашей странице.

Ольга
Менеджер-консультант
+(357) 25 315 318

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