Why Cyprus
Cyprus is considered one of the most popular vacation destinations in the region, attracting international travellers due to its convenient location and unique climate. There are many attractions from historical monuments, churches and castles to touristic beaches, bars and amusement parks.
Official language is Modern Greek
Warm and friendly Cypriot hospitality
Low Crime rate
330 days of Sunshine
Highly developed infrastructure
Sandy beaches
Mountain and forest scenery
Excellent Educational system
Advanced telecommunication network
Excellent Medical healthcare
Mediterranean Cuisine and Lifestyle
Permanent Residence & Citizenship by Investment
The Cyprus Citizenship by Investment program offers the fastest and most assured route to gaining a European passport through investment in property. It is fast and guaranteed and available to investors with sufficient funds for buying residential or commercial Real Estate. No other European golden visa program guarantees such assured results offering an EU second passport in just two to three months.
When completing the submission of the application, approval is granted for citizenship to the investor and his family members. The Citizenship by Investment program can only be completed when investing more than €2 million in real estate. Effective candidates gain the privilege of the Cypriot passport, live and work in Cyprus, as well as, travelling visa free across all countries of the European Union.
The Cyprus Citizenship by Investment program offers the fastest and most assured route to gaining a European passport through investment in property. It is fast and guaranteed and available to investors with sufficient funds for buying residential or commercial Real Estate. No other European golden visa program guarantees such assured results offering an EU second passport in just two to three months.
Frequently Asked Questions
With a simple scroll through our site, when you find a property you are interested in, make a note of the code number and contact us. Our professional team of experts can guide you in finding the best suitable property for your needs, following a process which is effective and transparent.
1. Why invest in Cyprus property?
Apart from its location and unique climate, Cyprus is considered a low tax destination for property buyers. The application process is fast and very straightforward with a high approval rate. Acting on your behalf, our DRE team of professionals can provide you advice, details and valuable guidance in the process whilst helping you buy or sell your home.
2. Is the process to buy/sell property in Cyprus difficult?
The process is simple and very straightforward. With a functional and well-established legal system and a team of professional experts the process is fact and effective. Another key consideration when deciding between residential or commercial property in Cyprus is the rate of tax (VAT) that applies. Commercial property will attract VAT at a rate of 19% whereas residential property will attract 5% on the first 200sqm of the first and main permanent residence property.
3. Do I need to hire a lawyer?
It is not compulsory to hire a lawyer, however, it is advisable to ensure all your rights and title deeds are covered, as well as the land registry and all further operational details in the buy/sell property market. Do not enter into a contract before being assured by your lawyer.
4. Do I have restrictions in buying property in Cyprus?
If you are an EU citizen, you do not have any restrictions. If you are a non-European citizen, you will have to obtain a permission from the Council of Ministers in Cyprus. This process is simple with the right team of experts.
5. Property Fees & Taxes
The main reason why Cyprus has become a great attraction for investing is the business-friendly tax system that offers many advantages. The key benefit of a resident corporation is the uniform 12.5% corporate tax rate which is one of lowest in Europe.
When buying property, taxes include immovable property tax, Capital gains tax and other property taxes paid to the local municipality; this varies depending on the size and value of the property. Fees on property include your Stamp duty and transfer fees which are according to the price of the property. It is important to include these standard fees/taxes in your budget when setting it out and note that VAT is also applicable on these.
6. What is a cancellation agreement and is there a fee?
If a property does not have title deeds then a cancellation agreement is drawn up that cancels the contract between the developer who still holds the deed and the seller. Then a new contract is made between the developer and the new buyer. A fee is charged for the existing contract between the original buyer of the property and the developer to be cancelled. This is a cost of selling without deeds and is undertaken by the seller. The cost is generally 3% of the original purchase price but depends on the developer.
When buying a property without deeds you may be able to cap a future possible cancellation fee at around 500 Euros in your contract when you purchase.
7. How do we calculate property transfer fees?
The purchase price is usually the market value and the fees are based on the market value of the property. The first 85,430 Euro is charged at 1.5% if the property is in one name. If the property is in two names then each person gets this allowance, so for two people its 1.5% up to 170,000 euros. The next 85,430 is charged at 2.5% and any amount over 170,860 Euros will be charged at 4%.