The natural beauty of the scenery in the island of Cyprus, the attractive climate with mild winters and long, dry summers, the hospitality of the local population, the efficiency of the services offered including medical and legal services, the low crime rate and the low tax jurisdiction has attracted a considerable demand for acquisition of real estate in Cyprus by businessmen, pensioners and families who all wish to experience the beauty of our Mediterranean Island.

The detailed legislation that governs the acquisition of immovable property in Cyprus, the size of the project and the amount of money it involves makes it imperative that before entering into an agreement to receive professional legal advice.

Stylianos N. Christoforou & Associates Law Firm routinely and with commitment provides independent advice and subsequent protection on matters such as acquisition and sale of property, property management for non-residents, estate planning and administration, mortgaging and finance. Furthermore, following your instructions we will negotiate the whole purchase of the property on your behalf, taking away from you this stressful procedure.

In brief, the transaction relating to the acquisition of property requires the approval and signing of a contract of sale, which shall be subsequently registered at the District Land Registry for the purpose of safeguarding the purchaser’s interest to the certain piece of immovable property. The contracts shall, amongst others, regulate the consideration of sale plus all construction details and specifications, as agreed between yourselves and the construction developer.

A separate title deed shall be issued within certain time limit after the completion and delivery of the construction works, as stipulated in the contract of sale. Title deeds are made available through the District Land Registry and upon application by the construction developer.

In almost all countries it is usual for the state to regulate and control the acquisition and ownership of immovable property by aliens. In Cyprus aliens are regarded as the non Cypriot passport holders, the citizens of states who are not members of the EU, companies controlled by aliens, foreign non EU companiew and trusts in which any alien is a beneficiary

If an alien person, however, wishes to purchase property on the island then a special permission will have to be granted. The application for the permission however is always examined with a flexible and positive eye, in order to promote people to meet, enjoy and invest in our island.