Your dream home in Cyprus
Our Real Estate Practice Area is dedicated to providing comprehensive property legal support in Cyprus. Whether you're buying, selling, leasing, or facing property disputes, our team offers expert guidance and assistance every step of the way.
Our Real Estate Practice in Cyprus offers a seamless solution for all your property-related needs, making the process of buying, selling, or leasing real estate easier and more enjoyable. Whether you're a first-time homebuyer in Cyprus or a seasoned investor, our expert team provides comprehensive legal support to ensure smooth transactions and resolve any challenges that may arise.
Our services include contract negotiation, title searches, closings, and handling property disputes. With our attention to detail and focus on efficiency, we streamline the real estate process, saving you time and minimising stress.
To get started, simply contact us to schedule a consultation. We'll discuss your real estate goals, outline the services we provide, and guide you through the process step by step. Let us handle the legal aspects of your real estate transactions so you can focus on enjoying your new property in Cyprus.
Services
Property Due Diligence
Applications for issuance of permission for foreign nationals so as to be registered as owners of immovable property in Cyprus.
Transfers of property - Enclaved Buyers
Our firm specialises in facilitating property transfers for "Enclaved Buyers" through the ΑΕΑ application process.
Contracts review and drafting
Our team is equipped to handle contracts for real estate transactions in Cyprus. This includes contracts of sale, assignment agreements, division agreements, tenancy agreements, and reservation agreements. Whether you're buying, selling, leasing, or dividing property, we ensure that your contracts are meticulously reviewed and professionally drafted to protect your interests and achieve your objectives.
FAQ
Are there property taxes in Cyprus, and what do they involve?
Property taxes include Local Authority Fees, Municipality Tax, Sewage Tax, and utility/insurance rates. Cyprus doesn't impose inheritance tax since 2000, making it attractive for asset inheritance.
How does Title Deeds transfer occur in Cyprus?
After registering the Sale Agreement, the buyer receives Council of Ministers permission for transfer. The buyer then visits the Land Department for taxes and Title.
What's the process for non-EU citizens to acquire real estate in Cyprus?
Non-EU citizens must seek Council of Ministers approval post-Sale Agreement signing, typically taking 2-3 months, allowing possession before approval.
How does the registration of the Sale Agreement with the Land Registry Office work?
The Sale Agreement is registered using Form ΔΕ 129 within a specified deadline. A Court Order allows deposit if the deadline passes, but only the buyer can withdraw it.
What is conveyancing, and why is it important?
Conveyancing is the transfer of real estate from seller to buyer, requiring legal representation for document preparation and filing, ensuring a legally binding transfer.
What is Property Reservation, and how does it work?
Property Reservation involves offering to purchase a property at an agreed price, accompanied by a non-refundable reservation fee. This fee, usually is estimated between 5%-10% of the total transaction value. It secures the property for an agreed period, typically 30-60 days. It is deducted from the final purchase price upon signing.
Is appointing a legal representative necessary for property transactions in Cyprus?
While not mandatory, appointing a lawyer is advisable. A lawyer can handle contracts, conduct due diligence, and negotiate terms, ensuring a smoother transaction.
Are there any other real estate or property law issues your firm can assist with?
Yes, our legal consultants are equipped to handle any other issue related to real estate or property law, ensuring our clients receive comprehensive support throughout their real estate transactions.
What role does your firm play in legal due diligence for property transactions?
We can undertake advance legal due diligence to ensure the property's status and provide comprehensive advice to our clients.
Do you provide assistance with obtaining bank finance for property purchases in Cyprus?
Yes, we can assist clients in obtaining bank finance for property purchases.
Can you assist with property registration under the client's name?
Yes, we represent clients before domestic authorities to ensure successful authorisation for property registration under the client's name.
Can you assist with transferring property to "enclaved buyers"?
Yes, we can assist with transferring property to "enclaved buyers" as provided for under the Immovable Property Cyprus Law (Transfer and Mortgage), No.9/1965 (as amended by Law 139(I)/2015).
Do you represent both sellers and buyers?
Yes, our firm acts for both sellers and buyers in real estate transactions for the Cyprus market.
Who are your clients?
We represent a diverse clientele which includes local and foreign individuals, companies, and developers.
What services does your real estate team provide?
Our real estate team offers a comprehensive range of services including reviewing, drafting, amending, and negotiating sale and assignment agreements for Cyprus properties. We also handle matters concerning land such as issuing title deeds, property tax clearance, and property transfers.