1. Research the Market and Choose Your Location
Decide where in Cyprus you want to buy (e.g., Limassol for business, Paphos for resorts, Nicosia for city life, Larnaca for convenience, Ayia Napa for tourism).
Use reputable local real estate agents to view available properties and compare prices.
2. Engage Professionals
Licensed Real Estate Agent: Helps you find suitable properties, negotiate, and navigate the market.
3. Select a Property and Reserve It
When you find a property, pay a reservation fee (typically 10–30% of the price) to secure it while legal checks are performed.
This reservation prevents the seller from selling to someone else during due diligence.
4. Legal Due Diligence
Your agent with the assistance of a Lawyer checks the property’s legal status, ensures clear title, and verifies there are no mortgages or encumbrances.
5. Sign the Sales Agreement
After due diligence, sign a sales agreement with the seller or developer.
The contract must be registered at the Cyprus Land Registry within six months to safeguard your rights.
6. Apply for Permission (Non-EU/Third-Country Nationals)
Non-EU buyers must apply for permission from the District Administrative Office or Council of Ministers (Form Comm. 145).
Processing times vary by district (1–5 months).
7. Arrange Financing (if needed)
Mortgages are available to residents and permanent residency holders, with banks typically financing up to 80% of the value.
Interest rates in 2025 average 4–4.6%, and a down payment of 10–35% is required.
Maximum mortgage term is up to age 65.
8. Complete Payment and Pay Taxes/Fees
Pay the remaining purchase price.
Pay applicable taxes:
- Stamp Duty: 0.15% up to €170,000; 0.20% above €170,000.
- VAT: 19% for new builds, reduced to 5% for first residences.
- Transfer Fees: 3–8% for resale properties, based on value.
9. Transfer Title Deed
Upon full payment and legal compliance, the title deed is transferred to your name at the Land Registry.
Pay transfer fees and register with the Tax Department.
10. Optional: Apply for Residency
Buying property worth €300,000 or more can qualify non-EU buyers for permanent residency under Cyprus’s Residency by Investment program.
Key Documents Needed
- Valid passport
- Proof of funds (bank statements)
- Sales agreement
- Source of funds documentation
- Purchase permit (for non-EU nationals)
- Cyprus tax identification number
Buying Remotely
You can buy property in Cyprus without visiting by appointing a proxy through a notarized power of attorney, certified at the Cyprus Embassy or Consulate.