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Government Bilateral Agreements
Bilateral agreements between Cyprus Government and Iranian Government have been recently signed in order to open the horizons of new ...
Foreign companies can be active in Cyprus
New legislation has been recently enacted providing that a foreign registered company can move their registered offices and the place of ...
Legislations
Recommendation A
Based on the endeavors of the Cyprus Government to offer correct and high standards services to the investors, they have prepare and they ...
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Ownership Information
All properties in Cyprus are freehold. Only in certain areas there is a small percentage of leasehold properties and you need to ask your lawyer to verify you the status of the property that you are purchasing.
The Europian citizens are free to purchase any number of properties on their individual names and the need of the Council of Ministers application is not needed any more after Cyprus has entered the Europian Union.
EU citizens are free to purchase property (a home in Cyprus) just as local persons, but for a second home there is a restriction in that, permission has to be granted by the Cyprus government. This restriction for a second home will be lifted from the 1/5/2009. After this date, all EU citizens will be allowed to purchase whatever property they wish, just as locals.
The non-europian citizens are allowed to purchase only one property on their individual names and in case they want to proceed and purchase more than one they need to purchase it through a limited liability Cyprus company. Purchasing property in their individual names they need to apply to the Council of Ministers to acquire the permit.
