Want to Buy Property in Cyprus? You Have to get Permission from the Council

If you are gearing up for a move abroad to live in Cyprus then you may be interested in purchasing property overseas in Cyprus. If your move overseas does include purchasing a new home in Cyprus you just might need to have permission before you can buy a property. Before you get your heart set on a particular villa or apartment home you may want to make sure you can get permission if you need it.

If you are a citizen of a European Union country and you want to buy up some land or some property in Cyprus then the process is not that difficult. If you are a European Union national and you are a resident of Cyprus then you are entitled to buy as much property or land as you desire with no restrictions on your purchases. You also do not need to have permission from the Council of Ministers to make your purchase.

However, if you are a European Union national not residing in Cyprus, or a resident of Cyprus, then you will meet a small amount of restrictions during your property purchase endeavor. European Union nationals that are not residents of Cyprus can buy land with no restrictions. There are restrictions on property though. European Union nationals that are not residents are limited in their property purchases of only one house or apartment. And European Union nationals that are not residents are required to apply to the Council of Ministers to obtain permission to buy property and land. While the property buying restriction and the need for permission from the Council are set to expire in 2009, both do apply to current purchases.

If you are not a European Union national then you are required to apply to the Council of Ministers to obtain permission to buy property and land. As a non European Union national you are only allowed to buy one house or apartment. You are also restricted in the amount of land you can own. All non European Union nationals are permitted to buy no more than 4000 square meters, or about one acre, of land in Cyprus.

If you are not a resident European Union national, you will need to apply either by way of a lawyer or in person, to get permission to buy property or land at the District Administration Office local to where the property or land that you wish to purchase is located. You will have to submit an application for permission, your personal information, detail on your financial resources, details of the property or land, information on the current owner of the property or land, the sale contract and terms of your payment for the property or land, and a copy of your passport.

After you submit your application it typically takes around six months for an answer. You are allowed to take possession of the land or property during that time as it is rare that an application is denied. In the event that you application is denied, you should make sure that there is a clause in your sales contract that stipulates that you are to get any monies you put down returned to you in the event of denial.

If you are considering purchasing your land or property for commercial purposes you may want to rethink that. The Council of Ministers only grants permission for property or land that will be used for personal use only.