property  



Buying Property Overseas

During property build

If you decide to make an off plan purchase or custom built house, Cyprus Mediterranean Properties will ensure that regular updates and photographs of the property are provided.

Payment Schedule

A payment schedule will be given to you duly signed by you, your lawyer and the developer. We will assist you with the best way to send your payments to Cyprus. We can arrange a meeting with an independent financial advisor should you require any further advice or assistance. We can also help you arrange a Cyprus Mortgage.

Delivery of property

We will escort and assist you when you take the keys for your property and ensure that you are happy with all aspects of your home. We will then be happy to provide any of our after care services to you as outlined on our after care section.

Title deeds

It can take slightly longer in Cyprus to receive your title deeds but the property is in your name once your sales contract is deposited with the Land Registry as outlined above. It is worth mentioning that you can sell your property before you receive your title deeds.




 

 

 

 

Buying Property Overseas

Our discreet Marketing service has enabled us to successfully sell some of Cyprus’s
finest homes. We pride ourselves on the individual service and personal touch that we are able to offer to our clients, ensuring that we fulfill all of your needs and making us stand out from our competitors. A personalised service is important to buyers and we see this as a major focus to make purchasing and investment as stress-free as possible.

Please see below the procedures when buying property overseas with Cyprus Mediterranean Properties:

Lawyer and legalities

buying property overseas

Once you have found your property, you will need a lawyer to assist you with the purchase process; we can recommend a selection of independent lawyers based here in Cyprus. The legal fees depend on the value of the property.

The lawyer will make all of the necessary legal checks regarding the property and advise you on all legal aspects of purchasing including making a will here in Cyprus for your property.

A sales contract will be drawn up and signed by you, the lawyer and the developer on receipt of your deposit of €3,400.

Stamp Duty is levied on the property purchase price and is payable within 60 days of signing a contract, depending on the price of your property this is either 0.15% or 0.2% of the total property purchase price.

You will pay 30% of the property purchase price within 30 days so your lawyer will register your sales contract with the Land Registry which secures your rights legally. For further advice on your legal requirements please email:

legal@cyprusmedproperties.com


Costs involved in buying property overseas in Cyprus

Legal fees and stamp duty as mentioned above. Transfer Fee – This is payable when your property is ready to be transferred into your name. For the first €85,430 you pay 3% of the purchase price; between €85,430 and €170,860 the rate is 5% and over €170,860 the rate is 8%

Immovable Property Tax – this is an annual tax payable by all property owners in Cyprus, irrespective of their residence status
 buying property overseas

Capital gains tax is payable on gains from the disposal of immovable property in Cyprus.

Council tax is a yearly tax depending on the size and location of your property and is significantly lower than you would pay in many European countries.
Insurance is essential for your property and its contents and our reputable professional associates can arrange this for you.

For further information about buying property overseas in Cyprus please do not hesitate to contact us: sales@cyprusmedproperties.com

 
 
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