FAQ – Frequently Asked Questions

FAQ

Can foreigners buy property in Cyprus?

Yes. Non-EU citizens can purchase real estate in Cyprus after obtaining approval from the Council of Ministers. This is a standard procedure and usually takes a few weeks.
How many properties can a foreigner buy?

In most cases, an individual can purchase one property (a house, apartment, or plot of land). However, investors or companies may acquire more under certain conditions or residency programs.
What is the process of buying property in Cyprus?

The purchase process includes: 1. Selecting a property; 2. Signing a reservation agreement and paying a deposit; 3. Legal due diligence; 4. Signing the Sale and Purchase Agreement; 5. Registration at the Land Registry; 6. Receiving the Title Deed.
Do I need to be in Cyprus to buy a property?

Not necessarily. The purchase can be completed remotely through a notarized Power of Attorney.
In which currency are property payments made?

All real estate transactions in Cyprus are carried out in euros (€). Payments are processed through a personal account in a Cypriot bank.
Is mortgage financing available for foreigners?

Yes. Cypriot banks offer mortgage loans to both residents and non-residents, with a typical down payment starting from 30%.
What taxes and fees apply to property purchases?

Buyers pay: • Registration fee at the Land Registry; • Stamp Duty (government fee); • VAT, if applicable. Our experts will advise on exact rates and possible exemptions.
Can I rent a property in Cyprus without residency?

Yes. Residency is not required for either short-term or long-term rentals.
How is the rental agreement arranged?

A written rental contract is signed, specifying the duration, rent amount, deposit, and all terms of stay.
How much is the security deposit?

Typically, one month’s rent (sometimes two for premium properties) is required as a security deposit.
Who pays utility bills?

Utilities — electricity, water, internet, and waste collection — are normally paid by the tenant unless otherwise stated in the contract.
Can I rent out my property through your agency?

Yes. Cyprus Realty Center provides full property management services — finding tenants, signing contracts, collecting rent, and maintaining the property.
What documents are required to buy property in Cyprus?

You’ll need a valid passport, proof of financial capability, and documents for opening a Cypriot bank account. Your lawyer will handle the rest.
What is a Title Deed?

The Title Deed is the official ownership certificate issued by the Land Registry Department, confirming your legal rights to the property.
Can I buy a property without a Title Deed?

Yes, but only if your Sale and Purchase Agreement has been registered with the Land Registry. This registration legally protects your ownership rights.
Is there an annual property tax in Cyprus?

The annual Immovable Property Tax was abolished in 2017. Only small municipal fees remain — around €200–300 per year for waste collection and public lighting.
What is the VAT rate on real estate in Cyprus?

• Standard rate: 19%
• Reduced rate: 5%, if the property is purchased as the buyer’s first permanent residence.
Can I obtain residency by purchasing property in Cyprus?

Yes. Buying a property worth €300,000 or more qualifies you for Permanent Residency (PR) in Cyprus.
What are the benefits of obtaining residency in Cyprus?

• The right to reside in Cyprus permanently; • Simplified travel within the EU for residents; • Easier business setup and banking; • Significant tax benefits under the Non-Dom regime.
Is Cyprus a safe country to live in?

Yes. Cyprus ranks among the top 5 safest countries in Europe, with low crime rates and a welcoming atmosphere.
What is the climate like in Cyprus?

Mediterranean — more than 320 sunny days a year, mild winters, and a long swimming season from April to November.
Can foreigners access healthcare in Cyprus?

Yes. Cyprus has both public healthcare under the GESY system and a wide range of private clinics that meet European standards.
Which city is best for living or investing?

• Limassol – business hub and luxury living; • Paphos – calm and prestigious; • Larnaca – convenient and affordable; • Ayia Napa / Protaras – ideal for holiday rentals; • Nicosia – the capital and administrative center.
Can I get assistance in my native language?

Absolutely. Cyprus Realty Center offers full support in Russian, English, and Greek, including legal and after-sales assistance.
Why choose Cyprus Realty Center?

• Over 10 years of experience in Cyprus real estate; • Thousands of verified properties; • Full legal and transaction support; • Transparent terms and personalized service; • Dedicated after-sale assistance.