Buyers Guide

Who Can Own Property?

Cyprus has very liberal foreign investment laws regarding real estate. According to the Cypriot Constitution and Legislation, a Cypriot or EU national who is a permanent resident or a company of Cyprus can own both land/plots and property without any limitations.

Permanent residency can be obtained by applying to the Civil Registry and Migration Department of the Ministry of Interior only after a period (5 years) of uninterrupted legal residency in Cyprus. Legal residency has as a requirement that a person needs to reside on the island for 185 days per year or more.

EU nationals that are not permanent residents may own as much land or as many plots as they like, but are limited with regards to property. They can only buy one house or apartment for which approval from the Council of Ministers is needed. The restrictions applying to E.U citizens not residing in Cyprus will seize after 2009 and all citizens of the E.U. will be treated equally with Cypriot citizens, regardless of their residential status.

Non EU nationals must seek approval from the Council of Ministers before owning any type of immovable property. In addition, (except under special circumstances) this will be limited to only one apartment, or one house, or land/plot of maximum size 4.014 sq.m. (the equivalent of about three donums).

It is unusual for the Council of Ministers to refuse permission to bona fide EU citizens and other foreign nationals. Recently these powers have been assigned to the pertinent Authorities of every district, in order for the procedure to become speedier.

Please read more about the Buying Process, Buyers Protection and the relevant Fees & Taxes.