Cyprus
General: Cyprus is a beautiful island in the northeastern basin of the Mediterranean Sea, at the crossroads of Europe, Asia and Africa. Throughout the centuries, Cyprus has been a meeting place of civilizations and cultures
>> more infoCriteria of selecting a jurisdiction to buy property
Property in Cyprus remains a good value. In recent years, Cyprus has become a popular place for the acquisition of property. This increase in demand is attributed to many factors
>> more infoLegislation related to immovable property
The legal system in Cyprus follows the English Legal structure and consequently all statutes relating to business matters and procedures are very similar to those of the English system. Most laws have been officially translated into English allowing foreign entrepreneurs to easily come to terms with the Cyprus Legal System
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The Land Registry system in Cyprus was originally based on British standards. It was established during 1875. Throughout the years it has been updated making it one of the most sophisticated land registry systems in the world
>> more infoImmovable Taxes
Real Estate Transfer Tax fees are necessary in order to transfer FREEHOLD ownership to the name of the purchaser. The transfer fees will be paid when the transfer of the title deed in the name of the purchaser will take place. The Purchaser is responsible for the tax payment
>> more infoMortgage Finance
Most commercial banks in Cyprus are authorized to offer mortgage facilities to local as well as foreign applicants to assist in the purchase of their property
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The law office Symeou, Konnaris & Co. property department deals with all matters relating to freehold and leasehold property, including transactions and disputes involving commercial and residential property and the provision of a comprehensive service to non-resident purchasers of property in Cyprus
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