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Grant for property sale

Government grant for the purchase of new property: Individuals purchasing property in Cyprus, provided that it will be used as first residence, are eligible for a government grant/return of 10% of VAT. Individuals entitled for the grant must:

• Be 18 years of age, plus
• Be citizen of the Cyprus republic or any EU member state and
• Not use any other residence as first and permanent place of residence
The grant is subject to the following conditions:
• The application for the issue of building license was filed at the Town of Planning and Housing Department after the 1st May 2004
• The residence is to be used for the first time as primary and permanent place of stay and
• The property should not exceed 250 sq. m2.