General
The laws governing the purchase and ownership of immovable property in Cyprus are based on those of the U.K. Properties are Freehold and Title Deeds state the legal owner of given property. Non-Cypriot persons wishing to purchase are restricted to owning only one property at a time, which must have more than 2 Donums of land with the property (28,800 ft2/m2) unless exceptional circumstances apply. The size restriction on the land also applies when purchasing just the land in order to build on it.

Approval of the Council of Ministers
Having signed a contract of sale for your property, a routine procedure, it will be unnecessary to make an application to the Council Of Ministers to grant its approval for non-Cypriot to acquire immovable property. Antonis Petrides will assist in the processing and monitoring of your application at no extra cost.

Paying for Cyprus property
You are required to pay for your property in foreign currency. Personal cheques, bank drafts and telex transfers are all acceptable.

Antonis Petrides can deal with all your money transfers ensuring that necessary certificates are obtained from the Central Bank of Cyprus, relating to your property purchase.

Antonis Petrides & Son has easy terms of payment based on your own personal financial capabilities to serve our clients best needs.

Transfer for the title deed and fees
When permission is obtained from the Council of Ministers to own property in Cyprus and Title deeds are available, in order to have a non-Cypriot person(s) registered on the Deeds, a Transfer fee is levied. This is calculated on the value of the property when purchased, which are always available at Antonis Petrides & Son L.T.D.