Buy Cyprus Properties in Paphos Cyprus

RESIDENCY IN CYPRUS

If I purchase a property can I get a Residency permit? Yes you can!. WHAT IF I PLAN TO BUY A HOUSE IN CYPRUS & SPEND MORE THAN 90 DAYS THERE? Those of independent financial means, who do not need to work in Cyprus to support themselves, can apply for Permanent Residency, under either Category F or Category 6(2). AM I ELIGIBLE TO OBTAIN PERMAN...

The legal system in Cyprus

The legal system in Cyprus is largely based on the British equivalent and safeguards the purchaser’s rights in many ways. For the purchaser’s protection, once the agreement of property sale has been signed and a deposit paid, the Land Registry in Cyprus provides a simple and effective legal instrument called the “Specific Performance”. This procedure pro...

Tax & Foreign Pensions

This article provides a brief outline in relation to the provisions of Tax law , further information can be obtain from independent tax advisor. Income Tax Law 1) Physical Persons The law provides that an individual is a resident if he / she lives in Cyprus for one or more periods which exceed the total of 183 days per year. Days in and out of Cyprus are calculated as follow...

Obtaining a reduced VAT rate towards immovable property

PLEASE NOTE THAT THE LAW RELATED TO VAT ON PROPERTIES WILL BE CHANGING THEREFORE WE ADVISE OUR CUSTOMERS TO OBTAIN LEGAL ADVISE Reduced VAT rate is granted when the following requirements are fulfilled: A customer shall be an individual (not a company), 18 years of age and over. The purchased property shall be the applicant’s main place of residence in the Republic o...

Healthcare in Cyprus

Healthcare in Cyprus is cheap and effective, and is another reason many expats relocate to the island. The Cyprus healthcare system is divided into public and private sectors. Public healthcare is either inexpensive or free, at least for citizens of the EU, and even private healthcare costs can be relatively affordable. Both state-funded and private ho...

REAL ESTATE SALES CYPRUS 2022

Despite the property market generating €6 billion in sales in 2022, real estate agents expect a challenging 2023. Releasing its quarterly “Real Estate Market Bulletin”, the Cyprus Real Estate Registration Council said that the value of real estate sold last year was €5.85 billion. The Council appeared satisfied, noting that “against ...

13 % INCREASE IN REAL ESTATE SALES FOR NOVEMBER 2022 VS NOVEMBER 2021

Official figures from the Department of Lands & Surveys indicate that the Cyprus real estate was the highest in numbers of property sales in November since 2007. During November a total of 1,293 property sales contracts were deposited at Land Registry offices across Cyprus compared with 1,149 in the same month last year; a rise of 13%. However, the number of sal...

Property sales €1.65 billion in Q3 2022

Despite the adverse economic conditions, the Cyprus real estate market saw a 34% increase in the value of property transactions in the third quarter, rising to €1.65 billion from €1.2 billion in Q2. Real estate expert Marinos Kinaigirou said interest from Cypriot buyers has remained steady while demand from foreign companies is increasing. According to the Departmen...

Education in Cyprus

Education in Cyprus one of the Highest in Europe.Public primary and secondary education in Cyprus is of high level. Teachers are qualified, school buildings are beautiful and they occupy some the best plots of land. The government spends 7% of GDP on educational needs. As per this figure Cyprus is a leader (along with Denmark and Sweden) among the European Union countries. Pub...

Sales up 18 per cent in first nine months of 2022

Sales up 18 per cent in first nine months The Department of Lands & Surveys reports that 1,157 property sales contracts were deposited at Land Registry offices across Cyprus in September compared with 914 in September 2021; an increase of 27%. Sales rose in all districts with Limassol leading the way with 398, followed by Paphos (240), Larnaca (226), Nicosia (21...