Buying property in Cyprus
Buying a real estate in Cyprus requires the following procedures:
- When the clients have decided what property they want and its purchasing price, the sales agreement would be prepared by our licensed company. The sales agreement includes the terms of payment, all the information regarding the property and the date of its delivery.
- The contracts contain all elements required by the Law in Cyprus and are signed both by the seller and the buyer, plus by two witnesses.
- The Agreement is deposited to the Land Registry Office which later confirms the purchase right.
- Receive permission by the Council of Ministers to transfer the immovable property from the seller to the purchaser, after submitting the appropriate application form. Then, the purchaser pays the transfer fees to the Land Registry Office. The level of fees is calculated according to the estimated value of the property.
- For the legalization of purchasing a real estate property, the client should pay a stamp duty to the Internal Tax Department.
- Obtain a title deed in the Regional Land Chamber.
Marinos Kineyirou Estate Agencies LTD helps the clients to complete the steps mentioned above in a safe and easy way, due to our experience in the real estate field. Our constant guidance and help will be present throughout the process.