Council of Ministers Cyprus - Property Application - Permit

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Permission (Permit) from the Council of Ministers in Cyprus

The permission (permit) from the Council of Ministers in Cyprus is required for the transfer of the real estate property, new home or investment property to a non-Cypriot's (foreigner's) name. This process is a formality and granted in all cases unless you have a dire criminal record or are on the FBI's most wanted list. Your lawyer in Cyprus will arrange these matters for you together with the other documentation required when purchasing property.

An application to the Council of Ministers in Cyprus should be accompanied by:

Personal details of applicant
Financial standing of applicant
Particulars of the property
Particulars of present owner
Terms of payment
Type of acquisition (i.e. freehold, leasehold, shares in property company name, etc.)
Copies of the government survey plans. The completed application form is submitted to the District Officer in the district where the property is situated. The District Officer, together with other relevant government departments, will make further enquiries and prepare a report that is submitted to the Council of Ministers through the Minister of the Interior.

The permit is subject to the following conditions and restrictions:

The transfer to be effected within a year from the date of the permit, or within three years in the case of construction of a building on the property
The costs to be paid in foreign currency
All taxes to be paid
The permit is issued for the specific property and use only

Process period to receive the Council of Ministers Approval - Permit

The whole application procedure to the Council of Ministers can take from 10 months up to one year. However, during that time there is no restriction on taking possession of the property and, as the legal owner, you would be entitled to resell or rent the property.

For further information on the Council of Ministers in Cyprus contact us or please contact:

Joanna Koukounis - Lawyer - Legal Consultant - in Paphos, Cyprus.

Tel: 00357-26944077. E-mail: koukjoan@spidernet.com.cy

Click below links for any information page.

Cyprus Property Lawyer - Real Estate Agents in Cyprus - Transfer Tax-fees - VAT

Stamp Duty - Bank of Cyprus - Mortgages in Cyprus

Immovable Property Tax - Capital Gains Tax - Residence Permit in Cyprus

Cyprus Income Tax - Work Permit in Cyprus - Overseas Mortgages

Transfer Money to Cyprus

Andrew Sharpe, a British expatriate, has been living in Cyprus since 1977. He is married to a Cypriot and has four children. Thanks to the many years he has lived in Cyprus, he is able to offer a hands-on approach to the many unknowns that may await any prospective resident, providing a very relaxed helpful, information service for property sales. Cyprus property has offices in all the island's major towns, i.e. Nicosia, Limassol, Paphos/Pafos, Protaras, Larnaca/Larnaka and Platres. Details on property finance, property sales, laws on purchasing property in Cyprus. Regular web site updates.

E-mails replied to within 24 hours.

Cyprus Fax/Tel 0035725571715 Mobile 00357 99537985 E-mail andrew@cyprusprop.com

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