Property law in Cyprus FAQ

Frequently Asked Questions on Cyprus Property

How can I buy a house or apartment in Cyprus?

After you find the property you would like to buy, you should appoint a lawyer to do the due diligence and contracts. The lawyer will take care the transaction for you and make sure that you have a smooth process.

Do I need to come to Cyprus at all if I am buying or selling property?

You do not need to come to Cyprus at all during the conveyancing process. We can deal with almost everything for you.

Can I buy a property in Cyprus without title deed?

It depends on the reason why the property does not have title deeds. Read our article for more information on why a property in Cyprus may not have a title deed and how to decide if it is ok to proceed.

How do I choose to which estate agent to give my property to sell?

There are a few considerations about this. The estate agent profession is regulated in Cyprus. A regulated estate agent’s fees are deductible from capital gains tax calculations (on the profits from the sale) as a recognisable expense.u003cbru003eOther than that you should look for someone who has sold properties in the area where your house or apartment is situated before and you enjoy working with.

How much time does it take to buy a property in Cyprus?

Typically, most conveyancing transactions in Cyprus take anywhere from 3 to 6 months. We conclude most of our straightforward transactions in around 30-45 days.u003cbru003eWith our innovative Fast Conveyancing Initiative, we can do the conveyancing in 10-15 days or even less in certain occasions.u003cbru003eTiming depends on the availability of funds, the co-operation of the involved parties (buyer, seller and their lawyers) and the date on which the seller wishes to vacate the property.

How much are Estate Agent’s fees in Cyprus and who pays these?

Typically the Estate agents’ fees are 5% plus VAT and these are paid by the seller of a property.u003cbru003eIf you are a buyer of property it may not make a difference whether the agent you use is a registered estate agent or not.u003cbru003eIf you are a seller of property, you must be aware that commission paid to a registered estate agent is deductible from any Capital Gains Tax you may have to pay due to the sale if you are making a profit. Commission paid to a non-registered estate agent is not tax deductible.

How long does a reservation deposit take the property off the market?

The reservation deposit usually takes the property off the market for a period of around 30 days (or as otherwise agreed) to allow for searches to be carried out and the transfer of further funds for the signing of contracts.

What happens if change my mind after paying the reservation deposit of a property?

Typically, a property buyer who backs down after paying a deposit, loses the deposit. The Seller however may agree to return the deposit back but this is unlikely in most circumstances.

What do I need to pay if I am selling property in Cyprus?

The following is an indicative list of the things you may have to pay when you are selling your property in Cyprusu003cbru003eLegal fees, VAT and disburesements (e.g. for the certification of documents),u003cbru003eAny outstanding mortgage/ loanu003cbru003eBalances to utility authorities, local authority taxes (e.g. refuse and sweage) and management committee (if in a building block or project with communal areas)u003cbru003eAgent’s commissionu003cbru003eImmovable Property Tax (IPT) if you held the property during 2014-2016u003cbru003eIn addition, the law provides that every seller of property must deliver an Energy Efficiency Certificate but some buyers don’t insist on this.

What do I need to pay if I am buying property in Cyprus?

The following is an indicative list of the things you may have to pay when you are buying property in Cyprus in addition to the purchase price:u003cbru003eThe purchase price;u003cbru003eTransfer Fees (unless the property is new which has VAT instead of Transfer Fees)u003cbru003eLegal Fees, VAT and Disbursements (for example stamp duty)u003cbru003eCost of connection of utilities

Why would I give a power of attorney to my lawyer in Cyprus?

This makes the transaction much easier and faster as buyers or sellers don’t have to be in Cyprus for the duration of the transaction.u003cbru003e

Can I give a power of attorney even if I am not in Cyprus?

Yes you can. We will explain how you can do this at the start of a transaction.

How do I prove my source of funds in Cyprus banks?

Depending on the specific bank’s requirements we have a list of documents that we will give you and we will assist you in the process.

Can I pay for the Cyprus property I am buying with Sterling Pounds?

Yes if both the seller and the buyer of the property agree.

Can the purchase price be paid by the seller to the buyer directly in the UK?

Yes but this needs proper safeguards in place to ensure that money payments and related actions tied to the payments are executed safely/ simultaneously.

What happens if the Cyprus property I want to buy is mortgaged?

We will find out for you and make sure that the mortgage is lifted if the amount of the mortgage is less than the purchase price. If it is for more, then the bank would have to agree to remove the mortgage for less.u003cbru003eWe will make sure that your propertyu003cbru003eThis means that the deed of the property will be clear when you take it over.u003cbru003eThere are some situations where the mortgage on the property may be an obstacle impossible to overcome and will inform you if this is the case.u003cbru003e

How can I find a property for sale in Cyprus?

Typically, through estate agents, developers or your own network.

What do people mean when referring to “blocked title deed process”?

There was a Law voted by the Cypriot Parliament allowing buyers of property to apply directly to the Land Registry to get their title deed transferred onto their names and to by-pass any problems/issues which the Developer may have had and which have been hindering the process of the transfer of the deed to the buyers. For more information you can have a look at our blocked title deeds guide.

Can I use the Cyprus developer’s lawyer?

This is risky as you and the developer have conflicting interests; you wish to buy for less and with better terms for you while the developer wishes to sell for more and with better terms for him.

Do I need to use my own lawyer in Cyprus?

You should. Very often the legal terminology and drafting is not easy for a non-professional to understand. In addition to what is written in a contract, one should note that omitting important information can also be very detrimental.

What is the Cyprus title deed procedure?

The process of property development, starts with an application for the division of the land in order to become a plot suitable for construction. Then a planning and a building application must be obtained prior to start building. As soon as the construction finishes, the authorities will examine that construction has been made according to the licenses and that all terms of the licenses have been observed and if everything is ok they will issue the final approval certificate. The separate title deeds for each property are issued after the final approval certificate. For more information as well as the reasons that complications may arise see our u003cstrongu003eguideu003c/strongu003e.

Should I buy a Cyprus property without title deeds?

This depends on the reason the title deeds have not been issued, the price and the reason for purchase. For more information you can read our u003cstrongu003eguideu003c/strongu003e.


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