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Central Bank of Cyprus - Purchase Property

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