Buy Cyprus Properties in Paphos Cyprus

Property price & rental index Q1 2023

The 54th quarterly publication of the RICS Cyprus Property Index with KPMG in Cyprus records the property price and rental index, tracking property and rental prices across all Cyprus districts and main property types. Market values year-on-year A year-on-year comparison of values shows an increase in all asset classes, with the largest evident in Apartments, f...

NEW RESIDENCY REQUIRMENTS FROM THE 2ND MAY OF 2023 FOR ''FAST TRACK'' - NON EUROPEANS APPLICANTS

NEW RESIDENCY REQUIRMENTS FROM THE 2ND MAY OF 2023 FOR ''FAST TRACK'' - NON EUROPEANS APPLICANTS Are you looking to move to Cyprus from another country? You might be interested in the expedited Immigration Permit process. After receiving approval from the Council of Ministers, the Minister of Interior released its latest review of Immigration Permits to third-country na...

RECORD SALES IN MARCH 2023 SINCE THE RECORDS BEGAN

RECORD SALES IN MARCH 2023 SINCE THE RECORDS BEGAN March saw the second highest number of property sales in the month since records began in 2000. On the one hand Cyprus, which has always ‘benefitted’ from trouble in the region, has strong interest from abroad due to Vladimir Putin’s war in Ukraine and also government incentives to attract foreign comp...

Property sales to non-EU citizens more than doubled in the first two months of 2023 compared to the same period in 2022 according to official figures from the Department of Lands and Surveys.

Property sales to non-EU citizens more than doubled in the first two months of 2023 compared to the same period in 2022 according to official figures from the Department of Lands and Surveys. Speaking at the opening of the 5th Property Show, last Friday evening in Nicosia, head of the Department Elikkos Elia noted that non-EU citizens from Russia and the UK were the two l...

Purchasers Guide

The legal system in Cyprus is based on the UK legal system of common law. Real estate, tourism and services are three of the main pillars of the Cyprus economy; hence the law has been developed extensively in order to protect individuals, companies and investors. The attractive international tax system of Cyprus and the immigration policies for permanent residency and citizens...

The RICS Cyprus Property Price Index with KPMG in Cyprus reveals that property purchase and rental values continued to rise in the fourth quarter of 2022.

The RICS Cyprus Property Price Index with KPMG in Cyprus reveals that property purchase and rental values continued to rise in the fourth quarter of 2022. According to the Index, the fourth quarter of 2022 saw a further increase in the price of residential properties (apartments and houses), both of which continue to be relatively strong performers over the quarter. Offic...

RESIDENCY IN CYPRUS

If I purchase a property can I get a Residency permit? Yes you can!. WHAT IF I PLAN TO BUY A HOUSE IN CYPRUS & SPEND MORE THAN 90 DAYS THERE? Those of independent financial means, who do not need to work in Cyprus to support themselves, can apply for Permanent Residency, under either Category F or Category 6(2). AM I ELIGIBLE TO OBTAIN PERMAN...

The legal system in Cyprus

The legal system in Cyprus is largely based on the British equivalent and safeguards the purchaser’s rights in many ways. For the purchaser’s protection, once the agreement of property sale has been signed and a deposit paid, the Land Registry in Cyprus provides a simple and effective legal instrument called the “Specific Performance”. This procedure pro...

Tax & Foreign Pensions

This article provides a brief outline in relation to the provisions of Tax law , further information can be obtain from independent tax advisor. Income Tax Law 1) Physical Persons The law provides that an individual is a resident if he / she lives in Cyprus for one or more periods which exceed the total of 183 days per year. Days in and out of Cyprus are calculated as follow...

Obtaining a reduced VAT rate towards immovable property

PLEASE NOTE THAT THE LAW RELATED TO VAT ON PROPERTIES WILL BE CHANGING THEREFORE WE ADVISE OUR CUSTOMERS TO OBTAIN LEGAL ADVISE Reduced VAT rate is granted when the following requirements are fulfilled: A customer shall be an individual (not a company), 18 years of age and over. The purchased property shall be the applicant’s main place of residence in the Republic o...