Central Bank of Cyprus - Purchase Property for Non-EU Residents
By Andrew Sharpe
An application to the Central Bank of Cyprus is required for non-EU (European Union) residents; to verify your property purchase was paid for in foreign exchange money. Your lawyer in Cyprus will arrange this. The bank will provide you with a clearance certificate on submission of the following documents on form EC/NR/01:
Contract of sale
District officer's approval to property the property.
Copy of the Council of Ministers approval to acquire the property
Certificate from your Cyprus bank proving the importation of your funds to purchase your property via foreign exchange. Therefore, you must open a bank account in Cyprus before purchasing any property.
See Also: Cyprus Property Lawyer | Cyprus Estate Agents | Cyprus Transfer Fees | Cyprus Property VAT | Cyprus Stamp Duty | Cyprus Council of Ministers | Cyprus Property Tax | Cyprus Capital Gains Tax | Bank of Cyprus | Mortgages in Cyprus | Purchase Contract | Cyprus Land Registry | Cyprus Chartered Surveyors | Making a Cyprus Will | Cyprus Title Deeds | Cyprus Certificate Final Approval