- Book your viewing trip
- Bring your documents - Passport - Driving License - Utility Bill – KYC Documents Required
- Meet your personal consultant
- Consultation to confirm - Why - Where - How?
- View the properties
- Confirm your choice - Reservation to secure property
- FX company recommended to save on future Currency Transactions
- Open bank account - personal and property direct debits for utilities
- Consultation with Cyprus Independent Solicitor - Cyprus law based on British system
Buying Process Fees -
- Solicitor fees are approximately 1% + vat of the purchase price (a minimum fee is applicable)
- Solicitor will complete land searches and carry out full due diligence.
- Your Solicitor will complete a draft contract for approval by all parties which can be officially signed by a POA in the clients absence (POA to be signed whilst in Cyprus) POA cannot be used without written consent.
- Your Solicitor will obtain tax clearance on the property from the tax authorises.
- Once all documents are approved your Solicitor will complete at land registry by exchanging contracts.
- Solicitor can make application for separate Title Deed and drafting of a will.
Stamp Duty fees are based on the selling price stated on the agreement as follows -
The first €5,000: 0.00%
€5,001 – €170,000: 0.15%
More than €170,000: 0.20%
Purchase Price €200,000
€5,000 at 0.00% = €0.00
€165,000 at 0.15% = €247.50
€30,000 at 0.20% = €60.00
Total = €307.50
Assignment Fees (Lodging the assignment agreement at land registry)
This is a set fee of 0.5% and is based on the highest price. For example if the vendor bought the property at 200,000 and the buyer is purchasing at 150,000 the 0.5% will be charged on the €200,000. This fee is normally charged to the buyer. If a title deed is available then the Assignment Fees do not apply as you will be completing via a direct transfer of title deeds.
The fees for the Title Deeds are as follows
Up to €85,000 @ 3%
The Next €85,000 @ 5%
Remaining contract figure @ 8%
If the Contract of Sale is in two names the property valued at € 155,400 in two names would be based on € 77,700 each and levied at the rate of 3% for each purchaser
Title Deed transfer fees are based on the value of the property applied by land registry at the time of transfer. Incentives can apply in accordance with Government directives – current resale 50% discount continues and new build – Zero fees.
Your Solicitor would charge approximately 500 Euros to handle the Title Deed Transfer.
Consultation with after sales
After sales will oversee the buying process of the property purchase and keep you informed.
Consultation with Customer Service
- Insurances - household
- Utility bills
- Car purchase / tax / insurance
- Residency application
- Medical services - sign on
- Furniture purchase
- Transportation of personal goods and lots more!
- Traditional evening out with your personal consultant and 'the team'
- Transfer back to the airport
- Keep in touch! A regular update from our After Sales Team until your sale is complete!
The Occupied Area of Cyprus
If you are thinking of buying property in the occupied area of Cyprus, please think very carefully.
The European Court of Human Rights has ruled that any property transactions undertaken by the authorities in the occupied area of Cyprus are considered illegal under International Laws.
92% of the legitimate title-deed holders of the occupied area of Cyprus continue to be Greek refugees who were forcibly removed in 1974. Accordingly, it is highly likely that the property you may be asked to buy is constructed on Greek Cypriot owned land.
Under any potential settlement, the right to property will be retained by the legitimate owners (Greek Cypriot refugees) as confirmed by the United Nations and as such any illegal purchases will be nullified.
The British High Commission in Cyprus gives the following advice:
"You should seek legal advice and be certain that the person from whom you are purchasing the property is the legal owner with pre-1974 provenance.
This is necessary to prevent the possibility of losing your property in the event of a solution to the Cyprus property question"
EMERALD PROPERTY CONSUTLANTS – CYPRUS DOES NOT SELL PROPERTY IN THE OCCUPIED AREA OF CYPRUS