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Topics for General discussion
Hi
I have created this discussion thread for sharing thoughts on topics and issues of general interest in/about Cyprus or if you have any questions. I invite you to login and start your own topics for discussion or participate in existing ones or simply create a forum to make any specific announcements, events, book /movie / music reviews etc etc. even things for sale !
You could always write to me to start a new topic or send me your comments for posting on any subject.
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Happy surfing meanwhile !
/VanG/
Hello VanG
Do you have information that could be helpful to foreigners about how to buy property in Cyprus? I have been doing some research and any feedback from you will be great help.
tx
Hi Andy
Non-Cypriots have certain restrictions while buying property in terms of how much can they buy, an approval from council of ministers and consideration having been paid by foreign exchange brought into Cyprus through a recognized bank.
Expatriates can buy only one apartment or one house or land upto 2 donums(2670sq mtrs).
Transfer fee varies from 3% to 8%
Real Estate property valued below CYP100,000 is exempted from property tax and in case of sale of property, there is a capital gains tax.
However, above is only some very basic information so please do consult a lawyer about latest provisions.
This link at Cyprus Government Web portal has some useful information about acquiring Immovable property in Cyprus
More detailed information is available at Department of Lands and Surveys, Government of Cyprus
Most real estate developers in Cyprus also have relevant information on their websites and in their publicity brochures.
Hope this helps!
And thanks for the query - i am sure there would be many more readers who might be interested in this information so am posting it as a separte topic also on the site.
Many thanks , Vandana. A