PERMIT FOR THE ACQUISITION OF PROPERTIES IN CYPRUS FOR NON-EU NATIONALS
Unlike citizens of the Republic of Cyprus and EU nationals, a permit for the acquisition of properties in Cyprus for Non-EuU nationals must be obtained. The Application is submitted once the deal for the property has been finalised and have proceeded with the execution of the sale agreement.
The non-Eu national will not be allowed to register the immovable property under his name without furnishing permit by the Council of Ministers of the Republic for the following type of properties:
- building plot or land up to approximately two donums (2,676 square metres)
This permission is obtainable provided that the property is not intended for commercial exploitation. In certain cases, however, the Council of Ministers may grant the approval for the acquisition of property for commercial purposes if the particular project is considered to help the Cyprus economy in general (e.g. in terms of tourism or employment).
A company owned by Non-Eu Nationals may also acquire premises for their operations (with no limit on the extent) and for the residence of their foreign employees, provided they maintain a fully-fledged office and the residence to be registered on the name of the employee.
PROCEDURE FOR OBTAINING THE IMMOVABLE PROPERTY PERMIT – COMM 145
We prepare and submit on behalf of the applicant the application with all required supporting documents to the Local District Office where the applicant resides. In turn the District Office once satisfied will prepare their report and submit it to the Council of Ministers for their decision.
If the Council of Ministers is satisfied, it shall give instructions to the District Office to issue the relevant Permit.
The following documents are required and accompany the COMM 145 application form:
- Application COMM 145 duly completed and executed.
- Survey plan of the property
- Copy of the title of deed (certificate of ownership) of the property
- Copy of the building permit for the erection of the house/block of flats or for the residential development of estates. If separate titles of ownership have been issued for the flats of the block or if the house is mentioned on the title of ownership, applicants need not submit a copy of the building permit. For plots under division, applicants must submit a copy of the division permit.
- Copy of the sale contract duly stamped by the Inland Revenue Department.
- Level Plan of the house or the flat. A division plan must be submitted in the case of division of plots. In areas of residential development, the plan must be submitted showing the position of the house on the entire holding.
- Documents stating the financial situation of the applicant.
- Copies of the pages of the applicant’s passport and those of his spouse (the pages containing the data and the photo of the holders and stamps of arrival to and departure from Cyprus).
- Certificate of marriage of the applicants or relevant attestation of their Embassy and in cases where the spouses do not have the same surname and when the name of the husband is not written on the wife’s passport.
- Copy of the residence permit or work permit of the applicant in the Republic of Cyprus.
The review period by the District Office and Council of Ministers is usually concluded within 30 – 40 days.
For any questions regarding the immovable property permit in the Republic of Cyprus contact us at email@example.com