Application to the Council of Ministers

An EU national resident in Cyprus can buy as much land or property as he likes without restriction and without needing permission.

Anyone else must apply to the Council of Ministers for ‘permission’ to buy a property or land and is restricted as follows:

• EU Nationals – EU nationals not resident in Cyprus can buy as much land as they like but property purchase is restricted to one house or apartment. This restriction, and the requirement to obtain permission, are likely to be lifted by 2009, but both currently apply.
• Non- EU Nationals – All non-EU nationals may buy no more than 3 donums (just over 4,000m2 or almost exactly 1 acre) of land and only one house or apartment.

Anyone other than resident EU nationals must therefore apply, in person or via a lawyer, for permission to buy land or property to the District Administration Office in the area where the property is situated. Along with an application form, you will need to supply the following:

• Your personal details, including your financial status;
• Details of the property;
• Details of the present owner, the sale contract and the terms of payment;
• A copy of your passport.

The authorities then consider your application, a procedure which may take around six months, but you can take possession of the property while you’re waiting for permission (!). It’s highly unlikely that your request will be refused, and your contract will still be valid if it is, but you should ensure that your lawyer includes provision for such an event in the contract.

Note that Council of Ministers’ permission to buy a property is granted for personal use only, not for letting or commercial purposes.

Article by www.justlanded.com. Click to read more articles about Cyprus and many other destinations.