information for non residents of Cyprus and buying property

Buying property in Southern Cyprus

The information from herw within is H-I-P's understanding dating from 6 October 2006 and is organised on information and documents received from the relevant Government departments in Cyprus and several legal professionals including solictiors and lawyers and there assistants.

It is worth noting that this subject is one where incorrect information in not toally uncommon, even within the law and solicitor profession, and it is against this that we have sought rigorously to find as accurate as possible information.

Contradictory information from other sources should be greeted with a high degree of skepticism, although we not totally discrediting any other sources whatever the apparent credibility and reliability of that source. If you would like up to date information, then it is worth contacting the correct Cyprus Government departments themselves.

Permission from Cyprus Council Masters

All non-resident aliens and U.K. ex-pats (expressly including those from EU member states) and some resident aliens require certain permissions from the Cyprus Council of Ministers to purchase residential or commercial property in Cyprus.

The Councils are represented in each district by District Officers who are responsible for issuing work and residency permits to aliens living or working in Cyprus.

Amoxostos: Mr Andreas Stylianides, P O Box 4424, 6304 Larnaca, T: 2381 2068, F: 2430 4168
Larnaca: Mr Kyprianos Matseou, P O Box 40103, 6301 Larnaca, T: 2480 1818, F: 2430 4635
Limassol: Mrs Lenia Antoniades, P O Box 56062, 3304 Limassol, T: 2580 6457, F: 2530 5023
Nicosia: Miss Efi Ioannidou, 2 Alkeo St, 1458 Nicosia, T: 2280 4110, F: 2230 2085
Paphos: Dr Andreas Christodoulides, P O Box 6005, 8100 Paphos, T: 2680 1115, F: 2630 6251

Cyprus repatriation Rules

Cyprus nationals and Cyprus residents from European Union member states can buy all immovable
property freely as the choose.
Non-resident aliens from Eueropean Union member states require a permit for each and every house, flat
or other “residential” property, but can buy other immovable property freely as they choose.
Aliens from outside the European Union, whether Cyprus resident or otherwise, require a permit for all
immovable property including residential and commercial.
District officers of Cyprus will only grant a permit for a second property in exceptional circumstances, including but not exclusive to seperation and divorce.
Where permission was required for purchase, such property can only be subsequently
rented to residents of Cyprus on a long-term basis. Such property may not be rented for
touristic purposes or on a short-term basis.
A Company registered in any European Union member state with a registered office, or management, or
a branch in Cyprus can buy freely. Those without such a Cyprus business link require permission
like any other non-resident alien.

Cyprus Information

It is understood at time of this publication, that these restrictions will continue to be applied until 2009, although no official confirmation of the date is available from any Cyprus Governmental department at the time.

Summary

The following table provides a simple summary of the position (we are not responsible for any unconfirmed or out of date information):

Buyer's Status	Residential Property	All other Immovable Property
Cyprus Nationals	Can buy freely	Can buy freely
Residents from EU member states	Can buy freely	Can buy freely
Non-residents from EU member states	Permission required	Can buy freely
Residents from outside the EU	Permission required	Permission required
Non-residents from Outside the EU	Permission required	Permission required

Disclaimer

While we have taken every effort and contacts in Cyprus to ensure the accuracy of the above, H-I-P are not responsible for any errors or omissions or any repercussions resulting from its use.