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One of the best things about buying property in Cyprus is that,
within certain limits, your world really is your oyster, i.e.
you can buy almost anything you want! Here, the types of
freehold property that non-Cypriots are currently allowed to
purchase include:
·apartments ·villas ·land; provided that the total area of the
land does not exceed 4014 square meters
Having found a property that you like, that complies with these
very minimal limitations, all you then need to do is to sign a
purchase agreement for your chosen piece of property. Here,
agreements to purchase property in Cyprus are generally very
straightforward and routine. That said, as a non-Cypriot, you
will need to submit an application to the Council of Ministers
requesting their approval to transfer the property deeds to your
name.
If you are not too worried about having the property deeds in
your own name, you can also buy property in the name of a
company, and that company (which belongs to you) is also allowed
to buy property to be used as a residence for any foreign
employees it has in Cyprus, e.g. you!
Once you have decided on what type of property you want to buy
in Cyprus, and have submitted all of the relevant paperwork, the
process of transferring the property title deeds into your name
can take up to 10 months. However, so long as you have paid for
the property, there should be nothing stopping you from taking
possession of the property and living in it during the time it
takes for the Council of Ministers to process all of your
paperwork.
All of which means that buying property in Cyprus could not be
made easier – so, next time you and your mates are moaning about
the cold winter weather, and are thinking of places to buy your
retirement or holiday home, why not think of buying some
property in Cyprus – after all, it’s part of Europe and has
lovely weather all year round!
About the author:
Mark Vurnum offers free advice and uses his experience in
helping people buy their dream property in Cyprus.
http://www.yourcyprusproperty.co.uk
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